McCormick’s Purpose is "To Stand Together for the Future of Flavor," a demonstration of our commitment to work collaboratively with stakeholders in creating a more sustainable future. We understand our business has a wide impact, beginning with the farmers and communities we source our raw ingredients from, to our employees, customers, consumers and beyond. Our strategic approach to PLP is focused on creating long-term value for our business, while positively impacting people, communities and the planet.
Our PLP approach includes a series of commitments and time-bound goals aligned with the United Nation’s Sustainable Development Goals (SDGs). McCormick is committed to playing an active role in advancing the SDGs, focusing on the areas in which we can have the greatest impact. We are working closely with the United Nations Global Compact (UNGC) on industry-wide strategies and actions to achieve them.
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In 2021, we updated our materiality assessment, identifying the most relevant environmental, social and governance issues for our internal and external stakeholders. The prioritization of these topics allows us to focus our PLP commitments, goals and initiatives.
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McCormick’s Purpose-led Performance goals reflect a series of commitments and performance targets that guide us through our sustainability journey. Since we formally launched PLP in 2017, we’ve continued building on our successes while simultaneously raising the bar for ourselves as we navigate changing landscapes in our business and industry. We’re proud of the progress we continue to make as we hold ourselves accountable to People, Communities and the Planet.
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TO OUR STAKEHOLDERS—As a global leader in flavor, we believe great tasting food and beverage has the power to bring people together across the table and the world. We envision a world united by flavor, where healthy, sustainable and delicious go hand in hand. We are guided by a commitment to provide our customers and consumers with the highest quality flavor products and solutions, with a responsibility to people and the world around us. Our Purpose-Led-Performance (PLP) approach is embedded in our values and strategies because it strengthens our business fundamentals and financial performance. From responsibly sourcing our iconic ingredients to ensuring our workforce represents all consumers, our actions are consistently focused on what fuels McCormick’s future.
Our PLP approach is two-fold, to deliver industry-leading financial performance and do what’s right for people, communities, and the planet. Our goals are closely aligned to globally recognized standards, and we’re committed to creating a healthier planet with healthier people while also driving shareholder value. Our customers and consumers continue to turn to McCormick, in part, because of our robust sustainability program which creates a competitive growth advantage for us. Furthermore, our global supply chain sustainability initiatives drive brand differentiation and supply resiliency and continue to expand one of our strongest competitive advantages.
As I reflect on 2023, I am encouraged by the progress we made against our PLP commitments, the positive impact we created across our communities and our continued focus on delivering shareholder value. As we pursue our goals, we believe it is vital we do so in a balanced, transparent and sustainable way. With that in mind, I’d like to highlight key areas where we made progress in 2023.
Our efforts reflect our strong commitment to our PLP approach, and that it is not only the right thing to do, but also a driver of growth and value creation. Delivering best-in-class financial performance and doing what’s right are not mutually exclusive and complement each other. As we move forward, PLP remains integrated into our day-to-day ways of working and decision-making processes. We are relentless in the pursuit of our long-term goals and expect to continue to utilize our purposeful, data-driven strategies and to focus on key areas that will drive the most impact. In doing so, we will remain in a position of strength to continue to advance our leadership and differentiation and drive long-term value for all our stakeholders. Importantly, by leading the way in these commitments, we believe we can make a difference and inspire others to join us in this journey.
As a global citizen, we understand our role in ensuring a sustainable future. I am incredibly proud of the progress we made towards our PLP goals, and I look forward to continuing our journey with our dedicated employees, industry peers, non-governmental and governmental organizations, suppliers, and customers to create a more sustainable and resilient future. I am grateful for our employees who remain the cornerstone of our success, embodying our Power of People principle and I am proud of our people-first culture, which is rooted in respect for the contributions of every employee.
As a final note, I invite you to explore this report and learn more about our efforts and the results they are driving. I appreciate your trust and support as we keep advancing on this important journey.
Brendan M. Foley, President & Chief Executive Officer
We’re proud to be recognized for our contributions to sustainability across our industry and beyond, but we know we can continue to increase our impact. We don’t embed Purpose-led Performance throughout our business to garner awards, we do it to positively impact society and to successfully drive our global business.
2023 PLP Report 
Governance and Approach 
Planet 
Communities 
People