Kraft Heinz
KHC:US US5007541064
Key Information
HQ:
United States
Market Cap:
$41.98bn
Primary Markets:
North America, Europe & Russia
Company Information
Company Summary
The Kraft Heinz Company produces and distributes dairy products, sauces, flavoured milk powders, and other products. Kraft Heinz serves customers worldwide.Revenue
Revenue by Geography
Revenue by Segment
Protein Diversification Engagement
Analysis Overview
Climate Strategy - Integration of Protein Diversification Climate Strategy - Governance and Influence Climate Strategy - Adoption of Just Transition Product Portfolio - Resource Allocation Consumer Education - Consistency of Marketing Strategies
Analysis Breakdown
Climate Strategy - Integration of Protein Diversification
DNF
Quantify Potential/Opportunity
DNF
TCFD-aligned scenario analysis
The company mentions that it conducts scenario analyses and updates its Enterprise Risk Management (ERM) framework to adapt to changing internal and external factors, including evaluating climate-related risks. Kraft Heinz recognises the financial and climate opportunity of expanding its offering of plant-based proteins. However, the company does not mention any specifics of its scenario analysis and it is unclear if it was conducted on a 1.5C scenario or 2C scenario.
No Evidence
Reporting of Scope 3 emissions from animal agriculture
The company discloses the categories of its total scope 3 emissions. However, it does not disclose emissions from animal agriculture.
No Evidence
1.5C aligned SBTi Scope 3 FLAG target
The company aims to achieve net-zero greenhouse gas emissions by 2050 within all its scopes. In the company's CDP report it states it has a new FLAG target, to reduce emissions by 50% by 2030. The company has yet to submit its target to the SBTi for validation, stating it plans to do this within two years.
No Evidence
Quantifying the opportunity of protein diversification
Kraft Heinz recognises the climate-related opportunity linked to protein diversification in its CDP reporting. Additionally, it recognises the need to reduce emissions from the animal proteins it sources.
Limited
Protein Diversification Strategy
DNF
Integrating protein diversification into climate transition plans
Kraft Heinz states in its CDP report that it is increasing its offering of plant-based proteins both in response to consumer demand and also recognise the climate benefits of these products. However the company is not strategically integrating plant-based within its climate strategy.
No Evidence
Protein diversification target is timebound
There is no evidence for this KPI.
No Evidence
Business coverage of protein diversification target
There is no evidence for this KPI.
No Evidence
Alignment of target with climate and health guidelines
There is no evidence for this KPI.
No Evidence
Measuring Progress
DNF
Disclosing progress against protein diversification target
The company provides examples of plant-based product launches, however, it does not disclose metrics related to its plant-based portfolio.
No Evidence
Annual reporting of progress of protein diversification target
There is no evidence for this KPI.
No Evidence
Climate Strategy - Governance and Influence
Low
Board Oversight
Low
Board support for protein diversification
The Board provides oversight on the company's global ESG strategy. However, there is no evidence protein diversification is discussed at the board level, as it is not clearly incorporated into the company's climate strategy.
No Evidence
Climate expertise of board
The company discloses that its board member, Ms. Knapp, has expertise in sustainability.
Full
Nutrition/health expertise of board
From the company's disclosure it is unclear whether the board has expertise in nutrition/health.
No Evidence
Advocacy
Low
Disclosing a list of direct lobbying actions
Kraft Heinz discloses some of its lobbying activities related to its US market, however, it is unclear how it engages with policy makers across other geographies.
Limited
Direct lobbying in line with climate and nutrition
It is unclear from the disclosure whether the company's lobbying actions are aligned with positive nutrition or climate outcomes.
No Evidence
Disclosing a list of indirect lobbying actions
The company discloses the names of trade associations that could affect the climate. However, it is unclear if this is a full list of its associations.
Limited
Indirect lobbying in line with climate and nutrition
It is unclear whether the associations of which the company is a member of are aligned with positive nutrition and climate outcomes.
No Evidence
Climate Strategy - Adoption of Just Transition
DNF
Just Transition Commitments
DNF
Public commitment to Just Transition principles
The company mentions in its ESG Report 2023 that in 2022, it started building partnerships with climate experts to achieve net zero emissions by 2050. However, Kraft Heinz has not committed to decarbonising its business in line with the principles of a Just Transition.
No Evidence
Commitment to support workers
There is no evidence for this KPI.
No Evidence
Commitment to support stakeholders
Kraft Heinz states that key focus areas of its net zero initiative includes partnering to scale methane inhibitors and anaerobic digesters for meat and dairy ingredient. However, no examples of specific programmes were disclosed. Kraft Heinz is a founding member of SAI Platform’s new Regenerative Agriculture Program along with approximately 30 companies from across the agricultural value chain. The program will work to scientifically validate regenerative principles, engage with farmers, and develop a mechanism for corporations to verify and communicate regenerative impacts to external stakeholders.
No Evidence
Just Transition Strategy
DNF
Public Just Transition strategy
The company states that it has a climate transition plan. It also discloses its ESG strategy, which includes three key pillars such as healthy living & community support, environmental stewardship, and responsible sourcing. However, the company does not have a just transition strategy.
No Evidence
Consulting social actors in Just Transition strategy development
There is no evidence for this KPI.
No Evidence
Just Transition KPI
DNF
Disclosing Just Transition KPIs
There is no evidence for this KPI.
No Evidence
Reporting against Just Transition KPIs annually
There is no evidence for this KPI.
No Evidence
Product Portfolio - Resource Allocation
Low
Portfolio Diversification
Partial
Dedicating resources to expanding alternative protein offering
The company discloses that it offers a range of plant-based products such as Heinz Beanz Burgers, Heinz Beanz Bowls, and Heinz Beanz Nuggets. The company continues its partnernship with NotCo to launch plant-based cheese.
Full
Annual evidence of resource allocation
There is no evidence for this KPI.
No Evidence
Improving Nutrition and Sustainability Attributes
Low
Dedicating resources to improve the nutrition and sustainability of products
While the company is producing new products with healthier and more sustainable characteristics it is unclear from the disclosure how the company is allocating resources to improve these attributes.
No Evidence
Reformulating products to improve nutrition
Kraft Heinz launched its range 'Heinz made for veggiez' to help customers make plant-based meals. The sauces are vegan, gluten-free and contain no artificial colours, flavours, or preservatives. However there is no clear evidence of the company formulating plant-based products with improved nutritional attributes.
No Evidence
Reformulating products to improve sustainability
The company is working to improve the sustainability of its product offering; for example it has launched a plant-based version of its Kraft American Cheese, which has a lower carbon footprint.
Limited
Consumer Education - Consistency of Marketing Strategies
DNF
Commitment Across Geographies/Brands
DNF
Commitment to marketing alternative protein sources
Kraft Heinz has not made a commitment to developing and delivering marketing and merchandising strategies related to alternative protein sources.
No Evidence
Business coverage of marketing commitment
There is no evidence for this KPI.
No Evidence
Nutrition and Sustainabilty
DNF
Promoting the nutritional attributes of alternative protein sources
Kraft Heinz does not publicly disclose sufficient evidence promoting the nutritional attribute of plant proteins on social media, in-store, and via product labelling. Kraft Heinz's website promotes the nutritional attributes of its Beanz Burger, but it is unclear if the Beanz Burger is available in its key markets.
No Evidence
Promoting the sustainability attributes of alternative protein sources
Kraft Heinz does not promote the sustainability attributes of alternative protein sources.
No Evidence
Consumer Research
Low
Conducting consumer research on alternative protein sources
The company is using consumer insights to inform the expansion of its plant-based offering, stating that consumers want alternatives to its most iconic and well loved products.
Limited
Conducting consumer research on healthy diets
There is no evidence for this KPI.
No Evidence
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Workstream Information
Business Type:
Manufacturer
Company Feedback Given:
No
Last Updated:
8 July 2024
2024 Resources
Phase 2 | Investor Briefing Protein Diversification Phase 1 Progress Report Protein Diversification Engagement