- Grown for Good
To Our Stakeholders, From Our CEO
As a global leader in flavor operating across approximately 170 countries and territories around the world, committing to our Purpose–To Stand Together for the Future of Flavor–has never been more important. Delivering top-tier financial performance while doing what’s right for people, communities where we live, work and source and the planet we all share continues to be a core principle in how McCormick operates.
Overall, I am pleased with our progress on our 2025 goals and commitments. I hope you will take the opportunity to learn more about how the Company is performing and making a positive impact. The global landscape in which we operate has changed dramatically since the publication of our 2019 Purpose-led Performance (PLP) Progress Report. The global pandemic and the continued negative effects of climate change have caused unprecedented disruptions to international supply chains around the world. McCormick recognizes the important role we play as an industry leader to help solve some of the world’s toughest challenges. In this newly released 2021 PLP Report, you will see additional commitments to achieve 1.5°C by 2030 and Net Zero by 2050. We have achieved our Scope 1 and 2 greenhouse gas emissions goals four years early. Like most companies, we have a significant amount of work to do to positively deliver our commitments for Scope 3. We are announcing new goals and programs in this area that will be validated by science-based targets. We’re also proud to announce that we have established the position of Chief Sustainability Officer, who is tasked with the responsibility of driving our Purpose-led Performance agenda and delivering on our sustainability imperatives.
In recognition of our work since our last report, McCormick was officially awarded the inaugural 2021 Terra Carta Seal from His Royal Highness the Prince of Wales. The seal recognizes private sector companies who are leading their peers in creating genuinely sustainable markets. The Company was also named a United Nations Global Compact LEAD Company for our ongoing commitment to the UN Global Compact and its Ten Principles for responsible business. McCormick continues to be recognized as one of the most sustainable companies in the world. The Company was ranked the world’s 14th most sustainable corporation and 1st in the Food Products sector by the Corporate Knights Global 100 Sustainability Index. The Company was also recognized on the 2021 Barron’s 100 Most Sustainable Companies list for the fourth consecutive year and as a DiversityInc Top 50 Company for Diversity for the fifth year in a row.
McCormick continues to deliver robust growth and is performing at the top tier of the food and flavor industry. We recently joined the Fortune 500 due to our focus on organic growth and the successful execution of our strategies, and additions of our newest acquisitions, Cholula® Hot Sauce and FONA International. We are proud of our sustained performance and being included on this prestigious list. I’d like to thank our 14,000 employees around the world for the focus and dedication to driving our business, even during the global pandemic. Our commitment to improving the lives of people and doing what’s right has never been stronger. I’m proud of our progress on our Diversity, Equity and Inclusion initiatives where we’ve increased the representation of women and ethnically diverse talent throughout the organization. Our focus on Human Rights and ensuring fair Labor practices have also been outlined in this report. The global pandemic has highlighted the need for an increased focus on health and nutrition and we have a commitment to help people live healthier lives and create a healthier world. We will accomplish this by continuing to educate others about the health benefits of culinary herbs and spices and by providing more information about all-natural flavor options that can reduce salt, sugar and fat and positively impact health outcomes.
Throughout the COVID-19 global pandemic and into the future, ensuring the health, safety and financial wellbeing of our employees was our most important priority. McCormick implemented measures ranging from enhanced facility safety protocols to global people care tools and resources, and we’re committed to addressing the needs of our people.
Improving the livelihoods of the farmers who grow our iconic ingredients remains a top priority for McCormick. To date, we’ve been able to increase the resilience of over 22,800 smallholder farmers, putting us over the halfway point to our 2025 goal of positively impacting the lives of 35,000 farmers. We also have a steadfast focus on support for women farmers. McCormick, in partnership with CARE International, has launched the McCormick Women’s Empowerment Framework, designed to assess the level of women’s empowerment in key sourcing communities and address opportunities to reduce inequality. To ensure the sustainable sourcing of our herbs and spices, we’ve advanced McCormick’s Grown for Good framework to include our third-party verified sustainability standard for suppliers in the herbs and spices industry. The Grown for Good framework–the first-of-its-kind in the herb and spice industry–promotes community resilience, economic stability for farmers, gender equality, women’s empowerment, biodiversity, conservation and regenerative farming practices. To date, we’ve also achieved 100% sustainably sourced branded red pepper and have made significant progress toward sustainably sourcing our other branded iconic ingredients (Cinnamon, Oregano, Black Pepper and Vanilla).
McCormick understands the importance of limiting climate change and doing what’s right for the planet. We are dramatically increasing the use of renewable energy sources to power our operations and have made large investments in sustainable manufacturing facilities. Since our last report, we’ve updated our science-based targets to align to 1.5°C by 2030 and to achieve Net Zero by 2050. As a result, we’ve adjusted our goals to reduce our Scope 1, 2 and 3 greenhouse gas emissions by 42% by 2030.
At McCormick, Purpose-led Performance is more than just about meeting sustainability goals–it’s how we operate our business. It’s a journey that continuously evolves as our business and the world changes. With each Purpose-led Performance Report, we see that our investments are having real, tangible benefits and we’re excited to transparently share our progress and success as we move forward. We remain committed to doing what’s right for people, communities where we live, work and source and the planet we all share.
Thank you for being a part of our journey.
Chairman, President and CEO
McCormick & Company, Incorporated