How Del Monte Foods Will Reach Net-Zero Emissions by 2050

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Del Monte Foods announced today its commitment to achieve net-zero emissions by 2050 in line with the Science Based Targets Initiative's (SBTi) Net-Zero Standard. To achieve this goal, the company has also committed to define near-term science-based targets to reduce Scopes 1, 2 and 3 carbon emissions that support SBTi's focus on limiting global temperature rise to 1.5°C.

To achieve its net-zero goal, Del Monte Foods plans to reduce or eliminate the majority of its existing emissions rather than purchase external carbon credits to offset emissions. This approach is also aligned with SBTi's requirement that registered companies reduce at least 90% of baseline emissions, minimizing the use of carbon credits.

Del Monte Foods has made the following strides toward net-zero:

• Streamlining its operations footprint to maximize output and eliminate unnecessary emissions from facilities operating at less than full capacity.
• Doubling its capital investment in production operations over the past three years to add automation and other technologies for improved efficiency and reduced waste.
• Investing in renewable energy, including installing a 3MW solar array at its Hanford, CA facility, one of the company's largest sites.
• Increasing the use of rail by 20% over the past year, while optimizing truck transportation by increasing average truck miles per gallon by 14.3%.
• Reducing food waste, including diverting more than 25 million pounds of food from landfills over the past two years through a focus on upcycling and food donations. An upcycling leader, Del Monte Foods' Blue Lake Petite Cut and Blue Lake Farmhouse Cut Green Beans products were the industry's first canned vegetable product to be Upcycled Certified by the Upcycled Food Association, the world's only third-party certification program for upcycled food ingredients and products.

Del Monte Foods will continue to invest in key areas to aggressively reduce carbon emissions in both direct and indirect operations, including renewable energy, automation technology, transportation efficiency, earth-friendly packaging innovation, and regenerative agricultural practices in partnership with its network of U.S.-based, multi-generational growers.

Now that Del Monte Foods has registered its net-zero commitment with SBTi, it will develop specific 2030 emissions reduction targets aligned with SBTi criteria which will be presented to SBTi for official validation. Once validated, Del Monte Foods will publicly announce these targets as well as report company-wide emissions and progress against these targets each year.