WELCOME
OPENING REMARKS FROM OUR CEO
Last year, Princes Group introduced a refresh to our management of Environment, Social and Governance (ESG) and I am proud that, in 2024, we are spotlighting our work in this field in a dedicated report.
Like all food businesses, of course our role is not just to meet the needs of our customers and consumers but to provide careers for thousands of colleagues and do all of these things while being profitable to enable future success. But this cannot and will not come at the cost of our planet or its people. And Planet and People sit alongside Products as core pillars of our approach to sustainability; a holistic and wide-ranging programme of initiatives that began many years ago and which are condensed here.
I hope that you will find this report interesting, reassuring and transparent. I am proud of the ways that we at Princes Group have a history of speaking plainly and honestly about what are –rather ominously, but accurately –referred to as ‘complex issues’.
The complex issues impacting our business are some of our global society’s most pressing challenges: modern slavery, human rights, climate change, the depletion of our planet’s natural resources and the ability of families to put nutritious and affordable food on the table.
These things really do matter. They require our urgent attention and our immediate action. As you will learn from this report, that is exactly our commitment and our demonstrated approach at Princes Group.
We made the decision to separate ESG from our usual Business Report because we want to give it the space and the attention it deserves.
In the following pages, we’ll take an in-depth look at our ambitions for the future across:
People: People Excellence, Human Rights
Planet: Climate Change, Sustainable Supply Chain, Food Waste Products: Circular Economy, Nutrition
One of my many areas of pride is the impact we are having in securing and maintaining sustainable supply chains and minimising the risks of unethical practices. To take just one example, we have a long-standing, proactive approach on human rights issues in Italian agriculture, where the exploitation of seasonal labour has presented historic challenges.
Other successes include:
• a 29% reduction in food waste since 2018/2019
• our emissions reductions at our manufacturing sites by 24% versus our 2018/19 baseline
• taking great strides towards our goal of 100% Marine Stewardship Council certified branded tuna by the end of 2025.
Our work across ESG will never be finished. We must constantly endeavour to do more and to do better, which is why the word ‘journey’ is so frequently deployed when it comes to sustainability. While it may be somewhat of a corporate cliché, ‘journey’ invokes a sense of continued advancement, with purpose, and that resonates.
I am immensely proud of the progress we’re making on that journey and want to express my thanks to all colleagues at Princes Group for their hard work and dedication. Thanks also to our brilliant roster of ESG partners, who help us to action positive change across our supply chain.
Finally, thank you for reading. I hope you find this report insightful. If it sparks ideas or questions we would love to hear from you, so please do pick up the conversation.
Yours,
SIMON HARRISON CEO
DOING THE RIGHT THING TASTES GREAT
VISION
DELIGHTING MORE PEOPLE WITH MORE SUSTAINABLE CHOICES
CREATING A WINNING CULTURE
Engaging and celebrating the successes of our inclusive and high performing teams
DRIVING A CUSTOMER CENTRIC BUSINESS
Being easy to do business with to help our customers grow
GROWING OUR REVENUE
Reaching more consumers, for more occasions, more often
OUR STRATEGIC IMPERATIVES
PROUDLY OFFERING GREAT TASTING CHOICES FOR EVERYONE WITHOUT COSTING THE EARTH
RYONE
SAVING TO INVEST
Continuously driving improvements to enable future investment
OPERATING SUSTAINABLY AND ETHICALLY
Protecting people, the planet and our collective future
POWERING OUR SUCCESS
Harnessing our full digital capability to support business resilience, innovation and growth
ENVIRONMENT, SOCIAL AND GOVERNANCE (ESG)
Our ESG strategy helps to frame our approach on the challenges our world and industry faces. It outlines how we work every day and collaborate with a wide range of stakeholders to address issues in our supply chain and owned operations.
We believe everyone at Princes plays a part in delivering and building a more sustainable business. In 2023, we established a new ESG framework to better embed action and collective responsibility across our business and to ensure we’re delivering on our vision of ‘proudly offering great tasting choices for everyone without costing the earth’.
Many of the material issues these workstreams focus on are not new to us and have long established working groups. However, the framework is intended to better accelerate our progress and ensure it is embedded in all areas of the business and that ESG considerations, along with related compliance and corporate governance needs, are factored into everyday decision making in every area.
HOW IT WORKS
Under three headline pillars of ‘People, Planet, Products’ we established seven workstreams covering the material social and environmental issues affecting our operations, our colleagues, supply chains and our products, complemented by an eighth workstream of ESG Governance & Reporting.
Each workstream reports into an Operating Board member, is managed by a senior leader in the business and is staffed with subject or sector experts and engaged colleagues of all backgrounds. Workstreams are tasked with delivering against existing targets, establishing new ones, horizon scanning emerging risks, opportunities and solutions and further embedding what we do by communicating across the business.
Our Governance & Reporting workstream takes an overview role for all workstreams and also ensures reporting requirements are met, such as our inaugural Climate Finance Disclosure (CFD) which will be published later this year and preparing for the EU Corporate Sustainability Reporting Directive (CSRD), amongst others.
PEOPLE PLANET PRODUCTS
SCOPES 1 & 2 SUSTAINABLE SUPPLY CHAINS FOOD WASTE HUMAN RIGHTS PEOPLE EXCELLENCE CIRCULAR ECONOMY NUTRITION
GOVERNANCE & REPORTING
PEOPLE EXCELLENCE
As an Employer of Choice we take seriously our responsibility to ensure that no matter where our people are in the world, we have a common purpose in striving to achieve our mission to ‘proudly offer great tasting choices for everyone without costing the earth’.
And that requires us to create a culture where everyone matters and feels that they belong. First established back in 2017, we have evolved our People Excellence Strategy and developed six pillars that bring to life the ‘Our Princes, Our People’ philosophy – as a framework, this approach enables us to check and challenge our efforts and track our progress culturally.
We share an annual update on our ‘Our Princes, Our People’ journey with colleagues and candidates –it is an honest account of our approach, progress and next steps.
Find out more:
OUR PRINCES, OUR PEOPLE ANNUAL COLLEAGUE UPDATE NOVEMBER 2023
COLLEAGUE ENGAGEMENT AND INCLUSION SURVEY HIGHLIGHTS
We undertook our first ever Group Colleague Engagement & Inclusion Survey in October 2023 – it marked a significant milestone on our journey to becoming an Employer of Choice.
We now have valuable insight into what matters most to our people, and we’re working with a group of 63 volunteer colleagues to drive positive change across the business.
4,077 COLLEAGUES COMPLETED THE SURVEY
76% OF OUR COLLEAGUES FEEL ENGAGED WITH PRINCES
76% OF OUR COLLEAGUES FEEL INCLUDED AT PRINCES
76% OF OUR COLLEAGUES WOULD RECOMMEND PRINCES AS A GOOD PLACE TO WORK
COLLEAGUE HEALTH & WELLBEING:
Sitting firmly within the ‘Our Princes, Our People’ framework, we have a clearly articulated Health & Wellbeing Programme that is designed to foster a culture of empowerment, support and holistic wellbeing. Far from taking a one-size fits all approach, we work with colleague advocates across the Group to check and challenge that we are meaningfully supporting people’s physical, emotional and financial wellbeing.
72% of our colleagues believe that Princes cares about their Health & Wellbeing
An impactful example of our Health & Wellbeing Programme in action is the success of our ‘Time To Talk’ initiative. Recognising the importance of creating a safe space for people to talk about their mental wellbeing, we now have 31 trained and certified volunteer colleagues ready, willing and able to lend a listening ear and to help signpost colleagues to the professional support they may need.
In the UK, that expert support may well be sought through Grocery Aid.
Find out more: GROCERYAID DAY
Aligned in our commitment to create a culture where everyone counts and feels that they belong, our approach to Health & Wellbeing also informs our people policies. As a recent example, our new UK Carers’ Leave policy demonstrates that we mean it when we say that wherever they are in the UK, our people matter.
Find out more: ANNUAL CARE LEAVE
PEOPLE PEOPLE EXCELLENCE
INCLUSION & DIVERSITY
As an employer of more than 7,000 colleagues across the UK, continental Europe and Mauritius, we recognise and celebrate our diversity and are committed to creating an inclusive workplace by ensuring that everyone feels valued and heard.
We have six well-established Colleague Resource Groups (CRGs) covering: LGBT+, Accessibility, Social Mobility, Gender Diversity, Multicultural & Age Diversity. Each CRG is supported by an Inclusion Champion, members of our Senior and Executive Leadership Teams, who provide leadership, guidance and advocacy.
of our colleagues are comfortable being themselves at work
Our CRGs are the driving force behind our journey towards becoming an increasingly inclusive workplace. These groups provide a safe and welcoming space for colleagues to connect, collaborate and ignite positive change. More than just forums for discussion, they are catalysts for action.
At a strategic level, we recently published our evolved Inclusion & Diversity Strategy 2.0. Four years on from the initial launch, it is designed to keep I&D firmly at the top of our business agenda by focusing on:
• Organic Inclusion
• Positive Reputation
• Balance Reputation, and
• Education & Understanding Find out more:
UPDATE 2024
We are honoured that our efforts have been recognised by the British Diversity Awards, with Princes shortlisted in the 2024 Company of the Year category.
GENDER PAY GAP
The UK average gender pay gap is 14.3%. The Food Manufacturing Industry average 2023 Gender Pay Gap is 8.7% (median) and 7.3% (mean).
GENDER PAY GAP = 6.7%
GENDER PAY GAP = 7%
Princes employs more men than women in the UK which reflects the gender imbalance typical in the industry and is the main driver of our pay gap.
To address our Gender Pay Gap and foster an inclusive workplace, we are committed to implementing tangible and sustainable measures that will enhance our culture and ensure a welcoming environment for everyone.
Find out more:
PEOPLE PEOPLE EXCELLENCE
Spotlight: REPRESENTATION TARGETS
Princes is committed to being an inclusive employer with diverse representation at all levels of our business. As a result, ‘Balance Representation’ is one of our Inclusion & Diversity Strategy 2.0 focus areas.
In October 2023, as part of our Group Colleague Engagement & Inclusion Survey, we embarked on our diversity data collection journey, seeking a greater understanding of the representation that exists within our workforce.
Aside from binary sex data, which utilises comprehensive people data, the understanding of our current representation is shown here.
SEXUAL ORIENTATION
SOCIO ECONOMIC
We have more to do to fully understand the diversity of our workforce and gain our colleagues’ trust in providing this information. Clear action plans are in place to enable this.
Equipped with a glimpse into the representation within Princes, and with deep analysis of the communities where Princes operates, we have established aspirations around our future representation.
GROUP-WIDE
50% of middle management roles (Grades 3-5) to be held by women by 2030.
35% of senior leadership roles (Grade 6+) to be filled by women by 2030.
15% of our workforce to be people with disabilities by 2030.
WITHIN THE UK
15% of our workforce from UK ethnic minority backgrounds by 2030.
35% of senior management and leadership roles (Grade 5+) will be occupied by individuals from working-class backgrounds by 2030.
6% of our workforce to be from the LGBT+ community by 2030.
All of our aspirations were developed in collaboration with our Colleague Resource Groups, and with full support from our Board.
GENDER DIVERSITY
Enabling
ACCESSIBILITY
Cultivating
MULTICULTURAL
PEOPLE PEOPLE EXCELLENCE
Case Study: ONE MILLION MENTORS
Princes is committed to ensuring that everyone, regardless of their background, has the chance to reach their full potential. In April 2024, our Social Mobility Colleague Resource Group (CRG) spearheaded a 12-month mentoring programme in partnership with One Million Mentors.
One Million Mentors is a unique community-based mentoring system with the aim of connecting one million young people with one million opportunities. As part of this initiative, twenty colleagues from Princes Head Office underwent training to become effective mentors and were then partnered with twenty Year 12 students from across Calderstones School in Liverpool and The Oldershaw School, Wallasey in Wirral. The programme will provide 240 hours of mentoring, supporting young people in our local communities to gain the skills, knowledge and networks to achieve their aspirations.
Karen Rowles, Careers and Opportunities Manager at The Oldershaw School, said:
“This is already proving to be a fantastic opportunity for our students. I fully believe that students need to ‘see it to be it’, and this provides exactly that. The mentors have struck up a great working relationship with the students. We’re so pleased to see them growing and learning from these interactions.”
Paul Richards, Head of Year 12/13 & School Careers Lead at Calderstones School, said:
“We are delighted to be working with Princes on this mentoring programme. It was clear from the first session that the mentoring was going to make a difference.”
THE PRINCES WAY
Created by our colleagues, for our colleagues, we were particularly proud to share our new and evolved Values in Autumn 2023. Deliberately dynamic and active, our bespoke Values are intended to describe what good looks like at Princes, or the ‘Princes Way’, by defining our culture and what it is to be a Princes’ colleague, all the time fostering a sense of belonging.
Find out more: THE PRINCES WAY
ENVIRONMENT, HEALTH & SAFETY (EHS)
WHAT IS EHS?
Environment, health and safety is an interdisciplinary field focused on the study and implementation of practical aspects of environmental protection, and the safeguarding of colleague health and safety, especially at site level.
HOW IT WORKS AT PRINCES
Princes has an integrated EHS policy and management system implemented across the group verified to ISO 45001 and 14001 standards. All manufacturing site leadership teams review performance daily, including safety, as part of the Safety Quality Cost Delivery People (SQCDP) review. There are senior operations weekly, and quarterly monthly performance reviews. We’ve also implemented a behavioural based safety system, which has helped to improve the safety culture amongst our operational colleagues. EHS is included on the agenda of the Princes executive board meeting.
OUR PLANS
We’ve set a three year strategic plan, which is reviewed annually to ensure it stays relevant to current business risk and performance and to ensure we are on track to achieve our EHS goals and objectives.
We audit our systems and performance via internal audit, Lloyd’s Register and customer audits. Our aim in the next three years is to achieve best-in-class EHS performance, and to ensure we have low risk with our Accident Incident Rate (AIR) below the Beverage Industry benchmark standard.
EHS PROJECTS
We have various continuous improvement projects running at the manufacturing sites. Named by our teams the ‘Light House’ projects, they are coordinated by the Operational Performance Transformation team and are focused on improving manufacturing performance, relating to cost, waste, delivery and EHS improvements.
We also have group projects including fire control improvements, facilities management service improvements which include Safety and Environmental Performance, Business Continuity Planning / Training and behavioural-based colleague surveys and feedback initiatives.
TRAINING ACADEMIES
Training academies take place throughout the year which train our managers in techniques for improving performance. Each course identifies a ‘Light House’ project to deliver. These projects are communicated and monitored regularly.
TOTAL ACCIDENT PERFORMANCE V’S 2018
RESULTS 2023/24
Total Accident Performance v’s 2018
2022/23 V 2023/24
SOCIAL SUSTAINABILITY
IN
2022 IT WAS REPORTED THAT THERE WERE OVER 49.6 MILLION PEOPLE WORKING IN
MODERN SLAVERY CONDITIONS AND THE FOOD INDUSTRY IS A HIGH-RISK INDUSTRY.
WHAT IS MODERN SLAVERY?
Modern Slavery is a crime and a violation of fundamental human rights. It can take many forms, including servitude, forced and compulsory labour and human trafficking, all of which result in the common deprivation of a person’s liberty by another to exploit them for personal or commercial gain. At Princes, we recognise that modern slavery is a global issue and is linked to the rise in global migration. Slavery exists in every region of the world and in most types of economies, whether industrialised, developing or transitional. No industry or sector can be complacent or considered immune.
SUPPLIER MANAGEMENT
All suppliers to Princes are required to register with the Sedex platform, complete a Self-Assessment Questionnaire and undertake a Sedex Members Ethical Trade Audit (SMETA). Where the supplier is unable to use Sedex we do accept valid alternate accreditations and audits.
This is our ‘base level’ requirement. Over and above, we risk assess suppliers and supply chains considering known risks, guidance and shared information from customer and industry networks and bodies such as the Ethical Trade Initiative (ETI).
SUPPLY CHAIN TRANSPARENCY
We are committed to supply chain transparency and continue to call on our suppliers to join us on this journey. In 2020-2023 we published annual updates for all finished goods suppliers showing the site location, a breakdown of full-time and temporary workers, gender, and the presence of an active trade union or worker committee. Regrettably, we have recently taken this down from our website as some newer suppliers have raised data sharing concerns, however, we are in the process of dialogue with all suppliers to reaffirm our views on transparency and expect to publish an update later this year.
PRINCES SUPPLY CHAIN AT A GLANCE PRINCES SUPPLY CHAIN AT A GLANCE
INTERNATIONAL LISTING ON CIPS’ ETHICS REGISTER
Since 2019 we have held the Chartered Institute of Procurement and Supply’s (CIPS) Ethics Mark – a certification which requires companies to adopt CIPS’ Code of Ethics, make a public commitment to sourcing ethically and to train and test all staff responsible for sourcing and management of suppliers.
To achieve this recognition, procurement colleagues have demonstrated their respect and awareness of international standards against criminal conduct, including bribery, corruption, fraud and human rights abuse, protecting Princes from potential supply chain malpractice.
This is a critical point of principle to us. The behaviours we need in our entire supply chain start with our own behaviour and it’s important that everyone in Princes with purchasing power – imported goods, raw materials, packaging or even services – understands how their role and behaviour can have impacts across the supply chain.
PEOPLE HUMAN RIGHTS IMPACT ASSESSMENTS
At Princes we recognise the importance of taking a ‘beyond audit’ approach to identifying, assessing and mitigating social sustainability risks within our global supply chains.
A Human Rights Impact Assessment (HRIA) is a specialist study informed by international standards and frameworks, including the United Nations Guiding Principles on Business and Human Rights (UNGPs), to assess all aspects of the value chain to identify and respond to potential impacts to workers.
Last year, we published the first-of-its-kind HRIA into pulses from Argentina as part of our approach to evolving our understanding of risks and opportunities within key value chains.
We currently source around a fifth of our pulses from Argentina, principally chickpeas and cannelloni beans which are used within our Napolina brand and for customers’ private label products.
Within the HRIA an assessment of all aspects of the supply chain were assessed to identify and respond to human rights impacts, informed by international standards and frameworks, including the UNGPs.
We have used this HRIA to share with customer and supplier contacts in the industry, through both specific workshops within the Ethical Trading Initiative and Food Network for Ethical Trade, to encourage others operating in the sector to use our insights to drive required improvements.
We are currently assessing the supply chain to undertake our next HRIA, which we expect to commence in late 2024.
Our approach is to consider a HRIA for supply chains or raw materials of significance to us that have had little or no ‘deep dive’ investigation to date from private sector or civil society organisations.
Watch our YouTube video on our beans and pulses HRIA.
Find out more about our Argentinian pulses HRIA
MORE INFO
HUMAN RIGHTS AND ITALIAN TOMATO SOURCING CONTRATTO DI FILIERA
We have a long-standing and proactive approach to human rights issues in Italian agriculture, working for many years to tackle illegal labour and ensure that growers in our supply chain receive a fair and profitable price from us for their tomatoes.
We are in the sixth year of a collaboration called ‘Contratto di Filiera’ (Supply Chain Contract) in collaboration with both the Department of Agricultural Sciences at the University of Foggia and Italy’s leading agricultural union, Coldiretti. Princes is committed to paying prices that reflect the genuine cost of production, delivering a profitable return to our growers ahead of the harvest season and ensuring they have the resources to pay legal and fair wages to seasonal workers during the summer harvest season.
Seasonal labour is an area a grower can try to reduce costs during harvest season, making the services of illegal gangmasters an appealing option if there are concerns regarding the profitability of a crop. These concerns can stem from the remuneration that growers have historically received because of the wider industry’s drive to relentlessly reduce costs. Princes is the only company in the south of Italy that agrees prices outside of industry-wide negotiations, which often do not conclude until just before harvest.
Late contracting has been frequently cited by Non-Governmental Organisations (NGOs) as a key contributor to forced labour and human rights abuse, yet it is a practice that remains prevalent across the Italian tomato supply chain.
Our Contratto di Filiera seeks to agree prices many months earlier to give growers visibility and security. Our agreement requires growers to implement best current environmental practices. In 2024 we once again were the first industrial processor in the south to conclude all price negotiations.
Committing to pricing that reflects the actual costs of production is the only way to ensure that farmers can remain both profitable and sustainable while eliminating the labour issues that remain in Italian agriculture.
Watch our video on human rights:
COLLABORATIVE ACTION TO ADDRESS ROOT CAUSE ISSUES
Princes recognises the importance of collaborating with Non-Governmental Organisations, charities, trade union organisations, customers and our competitors to strive towards meaningful change and address some of the root cause issues of large and complex modern slavery risks.
Since 2017 we have been a member of the Ethical Trading Initiative (ETI), a leading alliance of companies, trade unions and non-Governmental organisations representing the food, farming, and fishing sector.
We remain an active member of the Food Network for Ethical Trade (FNET), a collaborative initiative between supermarkets and large food suppliers to improve human rights in global supply chains. We have also participated in a project on worker recruitment fees with FNET and the Global Tuna Alliance (GTA) this year with our manufacturing site in Mauritius contributing to the research. Where any areas to improve our commitment to the ‘Employer Pays Principle’ are identified we will seek to address them.
GRASP (GLOBALG.A.P. Risk Assessment on Social Practice) is a 3rd party assessment which defines the minimum requirements for a good social management system in primary production. Since 2018, we have required that all our tomato growers in Italy hold GLOBALG.A.P. GRASP.
We’re also a member of the Seafood Ethics Action Alliance, established to share best practices and insights on emerging industry challenges.
PLANET
CLIMATE CHANGESCOPES 1&2 SUSTAINABLE SUPPLY CHAINS - SCOPE 3
DEFORESTATION FOOD WASTE SEAFOOD SUSTAINABILITY
CLIMATE CHANGE - SCOPES 1 & 2 EMISSIONS
WE RECOGNISE THAT FOOD MANUFACTURING IS A CARBON HUNGRY AND ENERGY INTENSIVE PROCESS.
Against growing global populations our industry must improve its approach to feeding more people but doing so in ways that minimise the environmental impact of
At the end of the 23/24 year our Scope 1 and 2 emissions total 85,791 tonnes – a reduction of 24% on 2018/19. Our move to 100% renewable electricity
SCOPE 1
Direct E missions
Direct GHG emissions occur from sources that are owned or controlled by the company
SCOPE 2
Indirect E missions
Indirect GHG emissions occur from the generation of purchased electricity consumed by the company
The figures above are based on our % reduction from our baseline of 2018/19.
Our transition to 100% renewable energy at our UK locations has reduced our Scope 2 emissions by half.
WATER
Water surveys and mass balances carried out at manufacturing sites have informed local projects that are starting to meaningfully reduce our water use.
INTERNAL ENERGY
We are working to generate up to 50% of our energy on site, by 2030. We will soon be installing solar PV roof panels on our largest manufacturing sites in the UK and are also working on other potential projects including hydrogen gas to power our boilers and carbon capture. reduction in each category, 2018/19.
Our solar roll out is underway with work completed at our Long Sutton site and ongoing at Bradford at the time of publication. While these will have relatively small carbon impacts, they evidence our approach to try to generate as much of our energy needs ourselves. Once UK sites have been addressed, it is our intent to install Solar PV at Princes Tuna Mauritius (PTM), which we expect to provide 100% of its energy needs.
PTM is already part of an energy and waste closed loop where our effluent, and that of an adjacent fish meal plant, are routed to a biogas plant which provides us with green energy to power our cookers and byproducts of fertiliser are supplied to domestic Mauritian farmers.
By implementing these sustainable projects across our manufacturing estate, with site teams sharing successes and learnings, we are demonstrating our commitment to taking all possible steps to reduce the impact of our operations. We are proud of the progress we have made so far and remain dedicated to further reducing our environmental impact in the future.
SUSTAINABLE SUPPLY CHAINS - SCOPE 3 EMISSIONS
We completed an initial pilot measurement in 2022 and this year conducted a full footprint following the Greenhouse Gas (GHG) Protocol.
Within our Scope 3 of 2.63 million tonnes, our key ‘hotspots’ are rapeseed oil, corned beef, tuna, sunflower oil, steel (cans) and tomato puree.
We have committed to the Science Based Targets initiative (SBTi) and our intention is to establish Science Based Net Zero carbon targets on a 1.5-degree pathway. We will publish these once verified by the SBTi. In addition, our new ENVIRONMENTAL & SOCIAL GOVERNANCE (ESG) framework will play a role helping us to embed a net zero culture and achieve these targets.
Net Zero for our Group will have long-term impacts on our sourcing and suppliers, factories, capital expenditure, future brand strategy and everyone in our business will play a role in this transformation.
We consider it to be a true ‘game changer’ for Princes and our industry, and ensuring that this is embedded in all areas of our business will be critical.
We have started to upskill key teams such as Procurement, Logistics and Commercial teams with the “Net Zero basics” webinars which have also been opened up to the wider colleague community. Our operating board have fully endorsed a Net Zero future for our business and their commitment and leadership will ensure this cascades through all our teams.
Critically, the cascade on our Net Zero ambition to our suppliers has started. A successful global transition to Net Zero will require shared ambitions and actions and we are engaging initially with some of our largest suppliers – identified by volume, by carbon intensity of the raw material or by both – to commence the carbon mapping of the material to identify future actions.
While our current focus is at Group level, we intend to understand detailed product information and footprints. We are supporting any customer requests for product information where we can but are mindful of potential future legislation regarding on label declarations (mandatory and voluntary) and how meaningful such information is for consumers at present.
SCOPE 3 Supply Chain
Other indirect GHG emissions which are consequences of activities of the company but occur from source not owned or controlled by the company
SCOPE 3 EMISSIONS
This graphic shows Scope 3 data for calendar year 2022, where we established our first full footprint. We will recalculate the footprint for the period April 2023 > March 2024 later this year.
Purchased Goods & Services
Staff Commuting
Upstream Transport & Distribution
Fuel & Energy Activities not in Scope 1 or 2
Capital Goods
Business Travel End of Life Emissions Waste in Operations
Data Jan > Dec 22
DEFORESTATION PLANET
THE FOOD SECTOR’S RELIANCE ON LAND FOR AGRICULTURE AND LIVESTOCK PRODUCTION HAS A SIGNIFICANT IMPACT ON THE ENVIRONMENT.
The expansion of land for grazing cattle and cultivating crops like soy has contributed to the loss of precious forests and other valuable habitats.
These ecosystems play a crucial role in maintaining biodiversity, regulating the climate, and providing essential services for human wellbeing.
Protecting forests is not just critical to halt the loss of global biodiversity, but also to protect the rights and livelihoods of indigenous communities and forest peoples.
SOY
Soy beans are an excellent source of protein and are used in large volumes in livestock farming, aquaculture, and the production of meat free proteins. Work undertaken in 2022 has identified that Princes has an ‘exposure’ of c.12,000 tonnes of soy within its supply chains up stream of our manufacturing operations and third party finished goods suppliers. This year, we have recalculated our soy footprint for our financial year 2023/24 to c.10,500 tonnes of soy. We have used the RTRS datasets, with primary sources mostly from the Profundo and Hoste (WUR & IDH) studies.
Princes is committed to sourcing verified Deforestation and Conversion Free (vDCF) soy and ensuring that our supply chain is not contributing to the destruction of natural forests.
In 2022 we became a signatory to the UK Soy Manifesto, which outlines a set of ambitious commitments to eliminate deforestation from the soy supply chain.
We are engaging with all our suppliers of raw materials linked to soy to highlight our vDCF requirements and to better understand their plans to ensure that all soy they use is from a source in line with our deadline of 2025.
We’re also asking them to set similar policies and to publicly disclose their progress. In line with our UK Soy Manifesto commitments, we will publicly disclose our performance from 2024.
This will include reporting on our progress towards our deforestation-free soy target and the percentage of our soy that is deforestation-free.
PALM OIL
All Palm Oil we use is RSPO certified. We have set an updated target that, by the end of 2025, we will only use RSPO certified Segregated Oil.
BEEF
Where we source Brazilian Beef, we have a specific policy requirement for suppliers on Net Zero, zero deforestation (including legally permitted) and other measures intended to improve environmental and social governance issues.
Find out more:
FOOD WASTE
AS ONE OF THE UK’S LEADING FOOD AND DRINK MANUFACTURERS, WE UNDERSTAND OUR RESPONSIBILITY TO ADDRESS THE ISSUE OF FOOD WASTE, FROM FARM TO FORK
A Princes, we take food waste very seriously. It’s not just about the general principle of wasting food while there are people in need of food, but the climate change impact of emissions from growing, transporting and processing of raw materials and ingredients into products.
That’s why we’re committed to a 50% reduction in food waste by 2030, aligning UN Sustainable Development Goal 12.3 with our own Green Goals initiative for our sites.
OUR JOURNEY SO FAR
We’re proud of the 30% reduction we have made in the last five years at a Group level in particular, the performance of our UK sites, Princes Industrie, Italy Princes Industrie Alimentari (PIA) and Princes Tuna Mauritius (PTM) businesses.
Our site teams are constantly looking for ways to minimise waste across our entire operational estate and our performance is testament to the mindset and work of our site-based colleagues.
Our journey is ongoing, with three key approaches being taken to reduce the food waste generated at our manufacturing sites:
1) Working in partnership with our waste disposal companies to find more positive uses for our food waste and better manage the segregation and sorting of waste on site.
2) Detailed analysis of our production processes to identify where food waste is generated, to take action to reduce / prevent spillage of raw materials and product.
3) Engagement with our factory colleagues to develop a war on waste and value in waste culture that focuses on waste prevention rather than disposal.
OUR SUPPLIERS
We ask suppliers to challenge us regarding the raw materials they deliver to our sites. If our current delivery or specification requirements are causing unintended waste in their business, we want to know about it, so we can work with them to change it.
We are encouraging suppliers to measure waste, to set targets and to take action in line with WRAPs ‘Target - Measure - Act’ guidance.
HELPING CONSUMERS
While focus is rightly on the food supply chain to play its part, the fact remains that 70% of the food waste occurs in the consumer home.
This is why our brands are playing a part in encouraging consumers to make small changes at home that, in turn, reduces food waste and saves money. Following on from our initial social media campaign with our Princes fish brand, ‘Love your Leftovers,’ our Napolina team has an ongoing campaign based on not wasting Napolina’s ‘Not so Humble Ingredients’ and in support of WRAP’s - Love Food Hate Waste on-going campaign.
We are committed to driving this message with consumers to help raise awareness and help them do the right thing at home.
Target
Set a food waste reduction target for your own UK Operations
Measure
Measure in a consistent way, and share what you’ve learnt
Act
Take action to reduce your own food waste, collaborate with your supply chain partners and support citizens to reduce food waste
FOOD WASTE
FARESHARE
FareShare lead the way in tackling hunger and food waste. During 2023 alone they helped 8,500 charities and community groups with 54,000 tonnes of food, the equivalent of 128m meals or four meals every second.
In addition to our donations, we seek to support FareShare wherever possible on projects that help reduce waste through using our sites, colleague expertise or our influence with wider industry.
FLEX PROGRAMME
FareShare’s Food Life Extension (FLEX) project seeks to convert surplus fresh food they can’t donate in time before it is spoiled, into long life formats so it can continue to be donated by e.g. canning or freezing.
To date we have not been able to find a solution at our own sites to support this but are delighted we have played a role in linking up a packing supplier with the project. Their involvement means that a FLEX project at a small canning business in the North West of England can proceed and costs of the project are minimised, allowing it some additional length of time and security.
THE KING’S CORONATION
FOOD PROJECT
We’re proud to be part of the King’s Coronation Food Project which was launched in 2023. This initiative tackles food insecurity and waste by connecting FareShare’s network with those in need. We’ve pledged 500,000 meals through a collaborative partnership with suppliers, ensuring a regularised flow of donations and will report on this in the near future.
George Wright, CEO at FareShare said:
“ FARESHARE OPERATES IN ALL REGIONS OF THE UK, TRANSFORMING THE ENVIRONMENTAL PROBLEM OF FOOD WASTE INTO A SOCIAL GOOD THAT CAN CHANGE LIVES. PARTNERS LIKE PRINCES PLAY A CRUCIAL ROLE IN THIS MISSION, HELPING US DELIVER FOOD TO OVER 8,300 CHARITIES THAT MAKE A DIFFERENCE EVERY DAY.”
APRIL 23 – MARCH 2024
206
Tonnes of food
3,441 Charities helped
490K
Equivalent meals
265 Tonnes of Co2e prevented from being wasted
KEY STATS: 2022-23
34 Sites
54,000 Tonnes of food (53,894)
8,500 Charities
128M Meals provided
5,300+ Volunteers
OVER 1M
People receiving food to Fareshare
4 MEALS A SECOND
SEAFOOD SUSTAINABILITY
We want to be able to bring this fantastic source of natural low carbon protein to families for generations to come. That means sourcing in the right way and accepting that we have a role in influencing markets, supply chains and using our voices with the government bodies that manage global fisheries.
OUR APPROACH TO SOURCING
Founded in 1880 and initially trading solely in canned fish, few businesses have a heritage as rich in Princes in the sourcing of seafood.
Even though we don’t own any boats, our commitment to sourcing seafood responsibly is a key part of our sustainability programme. We ask that our suppliers follow the International Seafood Sustainability Foundation (ISSF) Conservation Measures. We never accept fish that could be linked to Illegal, unreported and unregulated (IUU) activities.
We see the science-led, independent Marine Stewardship Certificate (MSC) blue tick as the key tool to preserve long term sustainable stocks, to increase transparency and build consumer trust in a complex area of sustainability. This is why, where possible, we aim to source from MSC certified fisheries or those that are actively involved in Fishery Improvement Projects (FIPs) with the aim of achieving MSC certification.
Supply quality and nutritious products.
Work only with approved supply partners who ensure our high standards of quality and sourcing are adhered to.
Ensure full chain traceability.
Support the principle of Marine Protection Areas and Marine Reserves.
Fully support and comply with the International Seafood Sustainability Foundation’s (ISSF) efforts and measures to reduce bycatch and control fishing capacity. Princes also applies ISSF’s definition of ‘FAD (fish aggregating devices) free’ when sourcing tuna.
Play an active role in the debate over catch methods, bycatch and sustainability and shape our approach based on the latest scientific information.
Audit our suppliers against our standards.
Comply with all relevant regional, national and international legislation.
Ensure large-scale purse seine vessels used to source tuna are registered on the ProActive Vessel Register (PVR) and have 100% observer coverage – either human or electronic.
Adhere to the internationally recognised strict standards of the Earth Island Institute (EII).
Endorse the Global Dialogue on Seafood Traceability (GDST) standards.
* Responsibly
Coalition:
Pole
Line; Purse Seine FAD Free; Purse Seine with FAD coming from a publicly reported Fishery Improvement Project with a clear goal of entering MSC assessment.
DO
It is vital that all our seafood meets strict standards, to ensure quality and integrity of our seafood.
D ON’T
We do not source any IUU seafood and take a firm stance on compliance with regards to the required documentation to all seafood we purchase.
Permit long-line caught fish in our branded products –we see longlining as unacceptable due to inherent high labour and indiscriminate bycatch risks.
Trade with companies or vessels that have not banned the practice known as shark finning - we require our suppliers to have a Fins Naturally Attached policy for any sharks landed.
Permit transhipment at sea other than under the strict control measures required within ISSF conservation measures.
Trade in any species listed as endangered or critically endangered on the International Union for Conservation of Nature (IUCN) Red List of threatened species.
Over-package our products. We also aim to use recyclable packaging materials wherever possible.
SEAFOOD SUSTAINABILITY
PARTNERSHIPS & COLLABORATION
INTERNATIONAL SEAFOOD SUSTAINABILITY FOUNDATION
Princes is one of the founding partners of the International Seafood Sustainability Foundation (ISSF) whose science and evidence led mission is to make improvements to global tuna fisheries. The ISSF board is comprised of marine scientists, government agencies, non-governmental organisations and the seafood industry representing several countries.
Many ISSF recommendations have successfully been transferred into Regional Fishery Management Organisation action and can also be found within the sourcing policies of global retailers and brands.
Princes has a seat on the International Seafood Sustainability Association (ISSA) board. The ISSA is a trade association whose members commit to follow the conservation measures established by the ISSF.
Find out more: iss-foundation.org
GLOBAL TUNA ALLIANCE
We are also members of the Global Tuna Alliance (GTA) where market actors collaborate to use our collective voice to advance tuna sustainability through advocacy with the countries and politicians that manage tuna stock health within the various Regional Fishery Management Organisations (RFMO).
The GTA represents a truly global voice from processors and brands, all of whom are commercial entities but share the same understanding that there is no long-term commercial success without sustainable management of tuna by RFMOs (Regional Fishery Management Organisations). Princes currently has a place on the Partnership Advisory Group of the GTA.
EARTH ISLAND INSTITUTE
The Earth Island Institute (EII) was founded in 1982 to support people who are creating solutions to protect our shared planet. The EII runs a specific international monitoring programme aimed at eliminating any impact on dolphins, turtles, sharks and other sea life because of tuna fishing.
Its monitoring helps ensure that the catch methods used by tuna suppliers are legitimate, responsible and dolphin friendly.
NORTH ATLANTIC PELAGIC
ADVISORY GROUP
NAPA is a market-led approach to improve North Atlantic pelagic fisheries management.
NAPA was formed in response to the continuing dispute between Coastal States over mackerel quota allocation in the Northeast Atlantic. Over time, this dispute has resulted in annual catches well in excess of the advised level for three commercially important species: mackerel, herring, and blue whiting.
Princes currently has a role on the steering committee of NAPA.
Find out more: napafisheries.org
MARINE STEWARDSHIP COUNCIL
The Marine Stewardship Council (MSC) runs a globally recognised certification programme for sustainable seafood. Some of our fish products are sourced from fisheries that are certified to the MSC standard –our goal is that all our fisheries achieve this.
The MSC has three principles required by a fishery to meet its standard:
• The fishing activity must be at a level which ensures it can continue indefinitely,
• Fishing operations must be managed to maintain the structure, productivity, function, and diversity of the ecosystem,
• The fishery must comply with relevant laws and have a management system that is responsive to changing circumstances.
ADVOCACY ROLE AND REGIONAL FISHERIES MANAGEMENT ORGANISATIONS (RFMO s)
As evidenced in some of the partnerships described above, we are increasing our engagement with the political decision makers on matters of ocean governance for wild caught fish.
The GTA and NAPA are specific instances where commercial market actors such as Princes are being called on to use their voice to clearly signal that the market – be it processors, brand, or retailers –has as much interest in sustainable seafood as the environmental NGOs that have historically occupied this space alone.
Going beyond our membership in these collaborative “market voice” associations, Princes has been active in direct advocacy to governments and coastal states, especially in the Indian Ocean where sustainable tuna stocks are not only important for environmental reasons, but crucially because they pose a business and livelihood issue. Indeed, across our two tuna processing sites in Mauritius, we have 4,000 colleagues relying on us for employment and thousands more in the wider local supply chain.
It is also important for us to engage with stakeholders to increase understanding and break down barriers that lead to disagreement and inaction. No one voice represents fishing fleets, processors or brands and we will continue to build our own and wider understanding, collaborate with like-minded partners, and seek to build consensus for the long-term benefit of all.
SEAFOOD SUSTAINABILITY
MACKEREL
Princes sources mackerel from the Northeast Atlantic fishery and is a member of the North Atlantic Pelagic Advocacy Group (NAPA) which calls on coastal and fishing nations to improve the management of the fishery and set catch limits in line with the scientific advice.
The NEA stock for mackerel, blue herring and whiting is experiencing overfishing and to date no political agreement has been reached between the key coastal states on Total Allowable Catches (TACs).
As a result, the fishery lost its MSC certification, and this will not improve until political agreement on catches is reached.
All NAPA members – brands like Princes, major retailers, and processors – are actively using their voice with politicians to urgently reach agreement.
SALMON
Princes sources MSC certified pink, red and keta salmon from the Alaskan fishery, one of the oldest MSC fisheries in the world.
SARDINES AND ANCHOVIES
Our sardine and anchovies supplier is a member of the Moroccan sardine and anchovies FIP (Fishery Improvement Project) and has contributed to the funding of additional scientific research into the status of the stocks.
TUNA
In 2021, we reached the milestone of 100% of Princes’ branded tuna across the Group being Responsibly Sourced for the first time, a definition matching the criteria established by the UK Sustainable Seafood Coalition. Responsibly sourced means all tuna is either MSC certified, from a pole and line fishery, from a Purse Seine FAD free fishery, or from a fishery engaged in a timebound publicly reported FIP with the clear aim of attaining MSC certification.
Over time many global FIPs have started to meet their goals and we can see a significantly larger proportion of MSC certified tuna becoming available. We welcome this and see a clear role for Princes, as a leading brand, to renew our support to fisheries who have long invested in improvements via FIPs. As such, we have set a target that all branded tuna will be Marine Stewardship Council certified by the end of 2025.
Princes brand sold in the Netherlands has already reached this target and our Vier Diamanten Brand in Austria is working towards 100% MSC by the end of 2024.
In Poland, Princes brand, which represents roughly 5% of the market share (and growing) has this year received an award by MSC for being the first brand fully MSC certified in the country!
In 2023 we reaffirmed our direct involvement in improving tuna sustainability in the Indian Ocean –through an extension of the Sustainable Indian Ocean Tuna Initiative (SIOTI) FIP which we are engaged in. The SIOTI FIP and its members have been an active contributor to a brand-new FAD recovery programme in the Seychelles (‘FAD watch’).
AQUACULTURE
Princes plays a small but growing role in the supply of chilled and frozen farmed fish to UK and European markets. Our main species are Basa and shrimp, sourced principally from Vietnam. All farmed fish we source must meet rigorous standards including:
• It must be certified to the Aquaculture Stewardship Council (ASC) or Global GAP or BAP (Best Aquaculture Practices) 4*;
• All suppliers need to be registered on the Sedex system and have a recent, valid SMETA (Sedex Members Ethical Trade Audit) audit;
• All soy used in feed must meet our Group wide policy requiring it to be verified deforestation free by 2025.
Our due diligence of supply chains includes understanding the wider supply chain behind processing sites and immediate farms, to include hatcheries and feed mills.
CIRCULAR ECONOMY AND PACKAGING NUTRITION
CIRCULAR ECONOMY AND PACKAGING
PACKAGING ENSURES THE SAFETY, QUALITY AND PRESERVATION OF OUR PRODUCTS, REDUCING FOOD WASTE AND OUR CLIMATE IMPACT.
The environmental impact of our packaging is critical, and we continue to operate with the four key principles of Reduce, Remove, Recycle and Responsibly Source.
All our product packaging should be widely recyclable and use the minimum materials necessary, be sustainably sourced and include recycled content where possible. In addition, they should maintain durability for supply chain movements and ensure the safety and quality of the food isn’t compromised.
We understand our responsibility toward a circular economy, ensuring that materials are reduced and reused where possible. We work with our customers and suppliers to establish reusable formats to support any appropriate closed loop initiatives.
When considering new packaging formats, the overall environment lifecycle and supply chain impact of materials is at the forefront of our experts’ minds. Considering these factors along with effectiveness means we can make the best decision for our customers and consumers.
Our main packaging type is steel cans that are easily sorted and recycled, with one of the highest recycling rates of packaging in the UK and Europe. Our steel cans contain a minimum of 75% recycled content, further demonstrating the circularity of this material.
We currently use a minimum of 30% recycled polyethylene terephthalate (rPET) content in all our drinks and oils bottles, and our Napolina Olive Oil bottles are at 100% recycled plastic.
During 2024 we are continuing to roll out the removal of multipack shrink-wrap around our Branston Baked Bean cans and replace it with widely recyclable cardboard, reducing plastic by nine tonnes.
We continue to work on light weighting our packaging where it is safe to do so and have started a transition to ‘lift’ caps on juice cartons that will deliver a further plastic weight reduction annually of around 11 tonnes.
We’ve continued to roll out the implementation of tethered caps, which is intended to ensure that the caps remain with the bottles so that they too can be recycled.
If the caps are separated from the bottles before they get to the recyclers, then they drop through the sieves at the sorters and never reach a recycling plant. The initiative was driven via the EU Single Use Plastics directive 2019/904 that covers ready to drink plastic and carton beverage containers up to 3 litres.
We’ve been working hard to ensure most accurate packaging data relating to our products for the UK Extended Producer Responsibility legislation as this is key for the UK as a whole to be able to prioritise the investment in improving our recycling infrastructure.
LOOKING FORWARDNEAR TERM TARGETS
• All our packaging to be widely recyclable by the end of 2025.
• We remain committed to the removal of all non-recyclable plastics and our last area for action - plastic pouches we use for sauces and tuna industrial customers - is a key focus for us in 2024 - 2025
• Focus on moving the few remaining card or paper items over to FSC or PEFC accredited.
• Establishing a new baseline and future target for the use or recycled rPET in our drinks and oils business.
• Preparing for the implementation of Deposit Return Schemes in October 2027. Find out more from the British Soft Drinks Association:
TOTAL PLASTIC USED 14,672 TONNES TOTAL PLASTIC WIDELY RECYCLABLE 14,371 TONNES (97.95%) PLASTIC REDUCTION PROJECTS REMOVED 9 TONNES AVERAGE RECYCLED CONTENT OF PLASTIC IN OUR PRODUCTS 29.5%
NUTRITION
WE UNDERSTAND OUR ROLE IN PROVIDING NUTRITIOUS AFFORDABLE FOOD TO MILLIONS OF FAMILIES
Find out more:
ACROSS EUROPE, EVERY DAY.
The major areas of our product portfolio – fish, pulses vegetables, fruit, seed and olive oils – all play a role in a balanced and healthy diet and are found within UK Government advice on balanced diets. Within the UK, recent legislation introduced or coming in 2025 restricting the advertising and promotion of foods High in Fat, Salt or Sugar (HFSS) have had significant impacts across our industry, but our portfolio has been unaffected.
The NHS recommend we consume 5 portions of fruit, vegetables or pulses per day. Our products fit perfectly into a balanced and nutritious diet. We understand the importance of offering a variety of nutrient-rich options to support overall health and well-being, that’s why whilst our range already offers great sources of nutrition, we are constantly striving to improve and promote their health benefits to consumers. For example, our pulses provide an excellent source of fibre, while our canned wild caught fish is rich in Omega 3 oils.
In our soft drinks business, we do not add any sugar to any of our branded drinks – the only sugar to be found within them is naturally occurring from the fruit sources.
We retain ongoing concern at potential changes in methodology to the Nutrient Profiling Model used by the Food Standards Agency which would see pure juice classified as an HFSS product. Fruit juice is a source of natural sugar, and we recognise there are concerns in relation to overconsumption and dental health, but also note that pure fruit juice is by far the biggest source of recommended 1 of 5 a day portions of fruit and vegetables within the UK for all age groups.
RESPONSIBLE MARKETING
We take responsible product marketing seriously in relation to labelling and advertising of our products to ensure they are not just compliant but totally transparent with consumers. This extends to product labels, websites and outer packaging.
Source NHS website
ULTRA PROCESSED FOODS
Over recent years no nutritional issue has received more attention than Ultra Processed Foods (UPF). These are widely classified by NOVA as industrially manufactured food products made up of several ingredients including sugar, oils, fats and salt and substances of no or rare culinary use. Typically, NOVA consider anything with more than five ingredients to also be UPF.
While UPFs have no legal definition, we concur that the NOVA system currently best describes in simple terms the concept of UPF, while noting that the NOVA definition does not comment on the nutritional content of food and is not intended to be used for nutrient profiling.
We clearly have a broad range of products – tuna in water or oil, olive oil, tomatoes and pulses in water – that are hugely beneficial in terms of diet and health, and all of these would be ‘processed’ under the NOVA system but would not be classified as UPF.
We fully accept there are very clearly some areas within our portfolio that are clearly UPF –e.g. canned pasta products and canned ready meals - and, like all our products, are subject to regular recipe reviews and benchmarking. There are also some hugely important products to families that are more nuanced. Baked Beans,
canned mackerel in sauce and many types of soup would be considered UPF under NOVAs definition. While we accept, they would be UPF under NOVA, we see these as important sources of protein and other nutrients to consumers and classification of them as UPF is unhelpful and misleading to consumers.
Given this diversity within our portfolio, it is clearly incorrect to consider all canned foods as UPF or to consider that foods which are UPF are inherently unhealthy. There are also other reasons for ingredients that NOVA consider ‘non culinary’ which are there to preserve food and keep it safe so there are considerations on food waste and safety for example that NOVA currently ignores.
While UPF is a moving issue, and one that at times lacks consensus, it is an issue we are mindful of and is being addressed by our ESG (Environment, Social and Governance) Nutrition workstream, brand and technical teams and we expect it to accelerate industry action in terms of reformulation, consumer transparency and communication.
HOW WE ARE DOING
RESULTS 2023 / 2024
RESULTS 2023/2024 PEOPLE
Ethical Procurement
TARGET DESCRIPTION
Retention of CIPS Corporate Ethics Mark & all colleagues in procurement roles undertake annual assessment
BY: ONGOING
Farm level ethical certification - Italian Tomatoes
TARGET DESCRIPTION
100% of tomato growers in Southern Italy that supply Princes hold ethical accreditation (Global Gap GRASP or SA8000)
BY: ONGOING
PROGRESS
SUMMARY PROGRESS: On Target
STATUS: Achieved each year
COMMENTS
First achieved in 2020.
PROGRESS
SUMMARY PROGRESS: On Target
STATUS: Achieved each year
COMMENTS
First achieved in 2018.
Carbon Neutral
Manufacturing:
Scope 1&2 Emission
TARGET DESCRIPTION
Carbon Neutral Manufacturing
*baseline 2018/19
BY: 2030
Scope 3 Emissions
PLANET
Internal Energy Generation
TARGET DESCRIPTION
Set Science Based Target for Princes Group Net Zero BY: ON GOING
TARGET DESCRIPTION
Up to 50% of our energy needs, to be generated on site
Water Reduction
BY: 2030
PROGRESS
SUMMARY PROGRESS: On Track
STATUS: 24.04% Reduction
COMMENTS
45% of all Group electricity purchased is now renewable.
Scope 1 and 2 targets for Net Zero will be set in line with Group Net Zero submission to the SBTi during 24-25.
PROGRESS
SUMMARY PROGRESS: On Track
STATUS: On Track
COMMENTS
Our Scope 3 emissions are 2.63m tonnes for the year Jan > Dec 22.
A recalculation of our Scope 3 for the period April 23> March 24 will take place later this year. Science Based Net Zero Targets for Scopes 1,2,3 are in development on a 1.5 degree pathway.
PROGRESS
SUMMARY PROGRESS: Year 1
STATUS: On Track
COMMENTS
We cannot currently quantify this but will report in future. We are in the process of installing Solar PV roof panels on our larger manufacturing sites in the UK and are also working on other potential projects.
TARGET DESCRIPTION
Reduce water waste by 25% *baseline 2018/19 BY: 2030
PROGRESS
SUMMARY PROGRESS: On Track
STATUS: -11.73%
COMMENTS
Water surveys and mass balances carried out at manufacturing sites have informed local projects that are starting to meaningfully reduce our water use.
RESULTS 2023/2024
Reducing General Waste
Reduce Food Waste
PLANET
Food Redistribution
TARGET DESCRIPTION
General waste reduced by 30%
*baseline 2018/19
BY: 2030
PROGRESS
SUMMARY PROGRESS: Achieved
STATUS: 34.9% Reduction
COMMENTS
Improved ways of working with waste contractors to ensure we focus on value in waste, continuous improvement projects to reduce waste at source, and engagement with colleagues at manufacturing sites are having a significant impact in waste generated.
TARGET DESCRIPTION
Reduce food waste across our manufacturing sites by 50%
*baseline 2018/19
BY: 2030
PROGRESS
SUMMARY PROGRESS: On Track
STATUS: 29.64% Reduction
COMMENTS
We have achieved a 12.27% reduction in overall group food waste compared to 22-23 following collaboration between ESG and site teams, Light House projects and improved ways of working with waste management companies.
TARGET DESCRIPTION
Ensure all unsold food and drink is donated to charity
BY: ONGOING
PROGRESS
SUMMARY PROGRESS: No Target
STATUS: 350 tonnes donated (year ending March ‘24)
COMMENTS
Since 2013 our partner for donations in the UK is FareShare. In 2023, we signed an agreement with the Kings Coronation Food Project to donate 500,000 meals via FareShare. We also have local arrangements in Italy and Mauritius for donations.
Responsibly
Sourced
Palm Oil
TARGET DESCRIPTION
100% certified RSPO Palm Oil use (% Segregated)
BY: ON GOING
PROGRESS
SUMMARY PROGRESS: On Target
STATUS: 100% ( 99.91%)
COMMENTS
We have set an enhancement to this position of only using Segregated RSPO certified Palm Oil by the end of 2025.
PRODUCTS PLANET
Responsibly Sourced Soy
TARGET DESCRIPTION
We are committed to 100% responsibly sourced soy BY: 2025
PROGRESS
SUMMARY PROGRESS: Year 1
STATUS: Not yet available
COMMENTS
We have identified our suppliers that require the use of soy ‘upstream’ for animal feeds and continue to engage with key suppliers. We have also signed up to the UK Soy Manifesto.
MSC Certified Seafood
TARGET DESCRIPTION
100% MSC Certified branded tuna by end 2025 BY: 2025
PROGRESS
SUMMARY PROGRESS: On Track
STATUS: Not yet available COMMENTS
100% of our tuna continues to be Responsibly Sourced (as first achieved in 2021). We are progressively moving our supply to MSC certified fisheries to meet our target of 100% MSC certified branded tuna by the end of 2025.
Increasing Recycled Content
TARGET DESCRIPTION
Average of 40% recycled content for all plastic packaging we use for our products
BY: 2025
PROGRESS
SUMMARY PROGRESS: On Target
STATUS: 29.51%
COMMENTS
We have dropped to 29% in terms of our recycled content due to reducing the level of recycled PET (rPET) in plastic bottles to 30% after significant dialogue with customers in relation to inflation and cost of living crisis. We are addressing a renewed target for recycled content that reflects our ambition to significantly increase use of recycled materials.
Enhancing Product Recyclability
TARGET DESCRIPTION
All of our product packaging is classified as widely recyclable
BY: 2025
PROGRESS
SUMMARY PROGRESS: On Target
STATUS: 97.95%
COMMENTS
We are focused on the small remaining areas of our portfolio that are not currently recyclable.
