Maple Leaf Foods Inc

MFI:CN CA5649051078
Key Information
HQ:
Canada
Market Cap:
$2.51bn
Primary Markets:
Asia, North America



Company Information

Company Summary

Maple Leaf Foods is a Canadian packaged meats producer. Its portfolio includes prepared meats, ready-to-cook and ready-to-serve meals, valued-added fresh pork and poultry and plant protein products.
Maple Leaf

Revenue

Total revenue:

$3.6bn

Revenue by Geography

Revenue by Protein

Revenue by Product Type

Note: This financial breakdown is based on Annual reports released in 2022, containing, in most cases, FY2021.


Disclosures

CDP ScoresLast Reviewed: 11/10/2023

CDP ClimateCDP ForestsCDP Water
YesNoNo

Science Based Target InitiativeLast Reviewed: 03/10/2023

Target classificationStatusDate
2°CTargets Set2019

Coller FAIRR Protein Producer Index

Analysis Overview

Index-Radar-2023
Greenhouse Gas Emissions Deforestation & Biodiversity Water Use & Scarcity Waste & Pollution Antibiotics Animal Welfare Working Conditions Food Safety Sustainability Governance Alternative Proteins

Analysis Breakdown

Risk Score

51/100
Medium Risk



Greenhouse Gas Emissions

54/100

Scope 1, 2 & 3 Target
45/100
Type of Target
0/0.5
Strength of Target - SBT
2.25/4.5
Source(s): Integrated Report 2022, page 4, 9, 14; SBTi Webpage

Innovation on GHG Emission Reduction
40/100
Innovation to Reduce Agriculture Emissions
1/1
Feed Farming Innovation
1/2
Animal Farming Innovation
0/2
Source(s): Integrated Report 2022, page 4, 104, 107, 109, 112, 114; Sustainability Report 2021, page 102; We are a Carbon Neutral Company Webpage

Quality of GHG Inventory
100/100
Quality and scope of GHG inventory Completeness
1.5/1.5
Feed & Animal Farming Emissions
2/2
Transparency of GHG Inventory
1.5/1.5
Source(s): Integrated Report 2022, page 101, 107, 108, 125; Maple Leaf Foods Inc - Climate Change 2022.pdf, page 4, 54

Emissions Performance
15/100
Overall Emission Performance
0.75/5
Source(s): Integrated Report 2022, page 103, 125; Sustainability Report 2021, page 101, 119

Climate-related Scenario Analysis
70/100
Climate-related Scenarios Analysis Conducted
1/1
Disclosure of Analysis Results on Material Risks
1.5/3
Disclosure of Financial Material Events & Alignment of CAPEX
1/1
Source(s): Annual Report 2022, page 23; Integrated Report 2022, page 116; Maple Leaf Foods Inc - Climate Change 2022.pdf, page 15, 28, 29, 30, 85



Deforestation & Biodiversity

60/100

Deforestation/Conversion-free Target - Soy for Animal Feed
90/100
Risk Assessment to Identify High-risk Locations
4.5/5
Source(s): Integrated Report 2022, page 116

Engagement, Monitoring & Traceability - Soy for Animal Feed
30/100
Supplier Engagement
0.25/1.25
Compliance monitoring & Traceability
1/3.25
Feed Innovation
0.25/0.5
Source(s): Integrated Report 2022, page 112, 114; Maple Leaf Foods Inc - Climate Change 2022.pdf, page 4, 94; Supplier Code of Conduct, page 2; Supplier Code of Conduct 2022



Water Use & Scarcity

28/100

Water Use & Scarcity in Facilities
40/100
Monitoring Water Consumption & Withdrawals
0.25/0.75
Target to Reduce Water Consumption & Withdrawals
0.5/1
Disclosure & Performance of Water Risks in Facilities
1.25/3.25
Source(s): Integrated Report 2022, page 2, 101, 116, 125

Water Use & Scarcity in Feed Farming
23/100
Supplier Engagement in Water Use in Feed Farming
0.38/2.5
Disclosure of Water Risks in Feed Farming
0.75/2.5
Source(s): Animal Care Performance Report 2022, page 15, 116; Integrated Report, page 25; Integrated Report 2022, page 112, 117

Water Use & Scarcity in Animal Farming
20/100
Supplier Engagement in Water Use in Animal Farming
0/3
Disclosure of Water Risks in Animal Farming
1/2
Source(s): Annual Report 2022, page 116; Integrated Report 2022, page 116



Waste & Pollution

26/100

Wastewater at Facilities
10/100
Disclosure & Targets for Wastewater Quality & Volume Discharged
0.5/1.5
Transparency on Water Pollution Risks
0/2
Performance on Wastewater Quality & Volume Discharged
0/1.5
Source(s): ESG Index 2022, page 14; Environmental Footprint Webpage; Integrated Report 2022, page 114, 116

Nutrient Management in Feed Farming
32/100
Supplier Engagement in Nutrient Pollution Risks
1/4
Innovation to Improve Nutrient Management in Feed Farming
0.6/1
Source(s): Integrated Report 2022, page 112

Manure Management in Animal Farming
36/100
Disclosure of Pollution Risks from Manure
0.5/1.25
Supplier Engagement in Manure Management
1.31/1.5
Innovation to Improve Nutrient Management in Animal Farming
0/2.25
Source(s): Integrated Report 2022, page 113, 114, 116



Antibiotics

42/100

Policy on Antibiotics Use
60/100
Policy on Antibiotics Use
3/5
Source(s): Animal Care Performance Report 2022, page 1, 5, 6; Antibiotics Webpage; Integrated Report 2022, page 70

Disclosure of Quantity of Antibiotics Used
25/100
Disclosure of Quantity of Antibiotics Used
1.23/5
Source(s): Animal Care Performance Report 2022; Integrated Report 2022, page 70



Animal Welfare

68/100

Animal Welfare Policy
84/100
Welfare Policy
2/2
Key Welfare Issues
2.2/3
Source(s): Animal Care Performance Report 2022, page 1, 2, 3, 4, 7, 8, 9, 11; Integrated Report 2022, page 62, 65, 66, 71

Assurance & Certification
60/100
Auditing & Assurance by an Animal Welfare Organisation
2/4
Public Reporting on Welfare
1/1
Source(s): Animal Care Performance Report 2022, page 11, 12; Integrated Report 2022, page 24, 67

Performance on Key Material Risks
60/100
Performance on Key Material Welfare Risks by Protein
3/5
Source(s): Animal Care Performance Report 2022, page 3, 4, 7, 8, 16



Working Conditions

48/100

Human Rights
10/100
Strength of Policy
0.5/1
Due Diligence Process
0/3
Evidence of Remediation
0/1
Source(s): ESG Index 2022, page 23; Integrated Report 2022, page 86

Fair Working Conditions
52/100
Policy for Direct Operations
1.6/3
Monitoring & Discosure
1/2
Source(s): Code of Business Conduct 2021, page 1, 10; ESG Index 2022, page 1, 21; Integrated Report 2022, page 2, 86, 87; Supplier Code of Conduct 2022, page 1, 3

Safety & Turnover Data
75/100
Committee representation of workers
1/2
Disclosure of safety and turnover data
2.75/3
Source(s): ESG Index 2022, page 2, 15; Integrated Report 2022, page 2, 25, 88, 89, 91, 105; Sustainability Report 2021

Freedom of Association
55/100
Strength of Policies
1.5/3
Disclosure of Collective Bargaining Metrics
1.25/2
Source(s): ESG Index 2022, page 1, 5, 22; Integrated Report 2022, page 2, 9, 23, 86; Supplier Code of Conduct 2022, page 1



Food Safety

83/100

Food Safety System
90/100
Certifications
3.5/3.5
Performance
1/1.5
Source(s): ESG Index 2022, page 27; Integrated Report 2022, page 23, 54, 59

Product Recalls & Market Bans
75/100
Product Recall Systems
1.75/3
Performance
2/2
Source(s): Integrated Report 2022, page 54; Product Recall Statement 2022



Sustainability Governance

51/100

Assessment of a Company's Sustainability Governance
51/100
Board Sustainability
1.25/2
Incentives & Policy Engagement
1.05/2.5
Innovation & Benchmarking
0.25/0.5
Source(s): Animal Care Performance Report 2022, page 6; Business Benchmark on Farm Animal Welfare Ranking Webpage; Executive Team Webpage; Integrated Report 2022, page 2, 4, 6, 19, 20, 21, 31, 38, 49, 50, 51, 55, 59, 69, 73, 74, 85; Maple Leaf Foods Inc - Climate Change 2022.pdf, page 10, 11, 98, 99



Alternative Proteins

85/100

Diversification of Products to Alternative Protein Sources
85/100
Existing product portfolio
2.25/2.5
Investing for future growth
2/2.5
Source(s): First Quarter 2023 Financial Results; Fourth Quarter and Full Year 2019 Financial Results, page 5; Integrated Report 2022, page 16, 36, 37, 38, 47, 120, 122, 123; Maple Leaf Advances Leadership in Rapidly Growing Plant-Based Protein Market Webpage; Maple Leaf Foods Inc - Climate Change 2022.pdf, page 14; Maple Leaf Foods Reports First Quarter 2023 Financial Results, page 1, 3

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Waste & Pollution Engagement

Analysis Overview

Waste-Pollution-Radar
Risk Assessment Value Chain Coverage Risk Mitigation Circularity Company Engagement

Analysis Breakdown




Risk Assessment

Poor
Coverage of water quality risk assessment
Transparency and disclosure of water quality indicators
Recognition of nutrient pollution risk on biodiversity



Value Chain Coverage

Poor
Inclusion of upstream feed and livestock suppliers in risk assessment
Downstream use of manure by animal feed suppliers
Acknowledgment of regulatory risks
Transparency on non-compliance from suppliers



Risk Mitigation

Medium
Biogas generation and organic fertilisers from animal waste
Target-setting for water quality
Support to third-party suppliers



Circularity

Poor
Pilot projects around nutrient circularity
Disclosure of investment in circular solutions
Targets to increase share of manure under circular initiatives



Company Engagement

Good
Level of company engagement with the coalition

Members-only supplement

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