Sysco Announces Sustainability Bond Framework
HOUSTON, TX - As one de Saint-Exupéry taught us, a goal without a plan is just a wish. And for its ambitious goals in stewardship, Sysco has designed a Sustainability Bond Framework. The framework details projects as the foodservice distributor works toward its 2025 corporate social responsibility (CSR) goals, focusing on three key areas: people, products, and planet.
“Sysco has been engaged in corporate social responsibility initiatives since its inception. Over the years, our strategic approach to environmental, social, and governance matters has evolved as our business has grown. We are committed to creating positive change in our organization, the environment and the communities we serve, a commitment that ultimately enhances the value of our business,” the company says on its website.
In the framework, the company lays out: types of projects that are eligible for financing or refinancing with the use of any potential bond proceeds, how any projects would be evaluated and selected, how any potential proceeds would be managed, and how the company may provide any allocation and impact reporting.
Sysco announced its 2025 CSR goals back in 2018, setting forth a comprehensive set of objectives, including:
- Sourcing 20% of its electricity from renewable sources
- Powering 20% of its truck fleet with alternative fuels
- Expanding its sustainable agriculture program to five fresh crops
- Doubling the availability of Sysco Brand organic produce
- Increasing its spend with women- and minority-owned suppliers by 25%
This latest move, according to a press release, sets a clear path for the future and demonstrates the company’s continued commitment to caring for people, sourcing products responsibly and protecting the planet.
Sysco said that the framework is the strategy under which it may issue green, social and/or sustainability bonds to advance the company’s 2025 CSR goals. You can read about eligibility under the framework in the full announcement here and access the actual plan here.
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