San Miguel Food and Beverage Inc

FB:PM PHY7510J1668
Key Information
HQ:
Philippines
Market Cap:
$5.62bn
Primary Market:
Asia



Company Information

Company Summary

San Miguel is one of the leading food companies in the Philippines. Its products and services span across the entire value chain - from animal feeds, fresh chicken and fresh meats to processed meats, dairy, spreads, oils, biscuits, coffee and jelly snacks. The company operates a vertically integrated business model in its meats business, ranging from plantations, breeding and contract growing to processing and marketing of chicken and hogs. The Purefoods-Hormel Company Inc, a joint venture with Hormel USA, produces and markets processed meats that account for nearly two-thirds of the processed meats market.
San Miguel Food and Beverage

Revenue

Total revenue:

$6.5bn

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
NoNoNo

Science Based Target InitiativeLast Reviewed: 03/10/2023

Target classificationStatusDate
Has not set SBT--

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

10/100
High Risk



Greenhouse Gas Emissions

9/100

Scope 1, 2 & 3 Target
5/100
Type of Target
0/3
Strength of Target - Non-SBT
0.25/2
Source(s): Annual Report 2022, page 3; Sustainability Report 2022, page 14, 19

Innovation on GHG Emission Reduction
0/100
Innovation to Reduce Agriculture Emissions
0/1
Feed Farming Innovation
0/2
Animal Farming Innovation
0/2
Source(s): Sustainability Report 2022, page 23, 27

Quality of GHG Inventory
25/100
Quality and scope of GHG inventory Completeness
1.25/1.5
Feed & Animal Farming Emissions
0/2
Transparency of GHG Inventory
0/1.5
Source(s): Sustainability Report 2022, page 22

Emissions Performance
5/100
Overall Emission Performance
0.25/5
Source(s): Sustainability Report 2021, page 20; Sustainability Report 2022, page 22

Climate-related Scenario Analysis
10/100
Climate-related Scenarios Analysis Conducted
0/1
Disclosure of Analysis Results on Material Risks
0.5/3
Disclosure of Financial Material Events & Alignment of CAPEX
0/1
Source(s): Sustainability Report 2022, page 13, 14, 23, 59



Deforestation & Biodiversity

1/100

Deforestation/Conversion-free Target - Soy for Animal Feed
0/100
Risk Assessment to Identify High-risk Locations
0/0.5
Strength of Deforestation Commitment
0/3.25
Transparency - Progress Against Commitment
0/1.25
Source(s): Sustainability Report 2022, page 7, 19

Deforestation/Conversion-free Target - Cattle
0/100
Risk Assessment to Identify High-risk Locations
0/0.5
Strength of Deforestation Commitment
0/3.25
Transparency - Progress Against Commitment
0/1.25
Source(s):

Engagement, Monitoring & Traceability - Soy for Animal Feed
5/100
Supplier Engagement
0/1.25
Compliance monitoring & Traceability
0/3.25
Feed Innovation
0.25/0.5
Source(s): Sustainability Report 2022, page 7, 19

Engagement, Monitoring & Traceability - Cattle
0/100
Supplier Engagement
0/1.25
Compliance monitoring & Traceability
0/3.5
Feed Innovation
0/0.25
Source(s):



Water Use & Scarcity

9/100

Water Use & Scarcity in Facilities
28/100
Monitoring Water Consumption & Withdrawals
0.25/0.75
Target to Reduce Water Consumption & Withdrawals
0.13/1
Disclosure & Performance of Water Risks in Facilities
1/3.25
Source(s): Sustainability Report 2022, page 16, 17, 18

Water Use & Scarcity in Feed Farming
0/100
Supplier Engagement in Water Use in Feed Farming
0/2.5
Disclosure of Water Risks in Feed Farming
0/2.5
Source(s): Sustainability Report 2022, page 19

Water Use & Scarcity in Animal Farming
0/100
Supplier Engagement in Water Use in Animal Farming
0/3
Disclosure of Water Risks in Animal Farming
0/2
Source(s):



Waste & Pollution

7/100

Wastewater at Facilities
15/100
Disclosure & Targets for Wastewater Quality & Volume Discharged
0/1.5
Transparency on Water Pollution Risks
0.25/2
Performance on Wastewater Quality & Volume Discharged
0.5/1.5
Source(s): Sustainability Report 2022, page 16, 23, 31, 69, 70

Nutrient Management in Feed Farming
0/100
Supplier Engagement in Nutrient Pollution Risks
0/4
Innovation to Improve Nutrient Management in Feed Farming
0/1
Source(s): Sustainability Report 2022, page 7, 19, 30

Manure Management in Animal Farming
7/100
Disclosure of Pollution Risks from Manure
0.35/1.25
Supplier Engagement in Manure Management
0/1.5
Innovation to Improve Nutrient Management in Animal Farming
0/2.25
Source(s): Sustainability Report 2022, page 13, 14



Antibiotics

3/100

Policy on Antibiotics Use
5/100
Policy on Antibiotics Use
0.25/5
Source(s): Sustainability Report 2022, page 67

Disclosure of Quantity of Antibiotics Used
0/100
Disclosure of Quantity of Antibiotics Used
0/5
Source(s):



Animal Welfare

2/100

Animal Welfare Policy
5/100
Welfare Policy
0.25/2
Key Welfare Issues
0/3
Source(s): Code of Business Conduct and Ethics 2021, page 11; Sustainability Report 2022, page 54

Assurance & Certification
0/100
Auditing & Assurance by an Animal Welfare Organisation
0/4
Public Reporting on Welfare
0/1
Source(s):

Performance on Key Material Risks
0/100
Performance on Key Material Welfare Risks by Protein
0/5
Source(s):



Working Conditions

31/100

Human Rights
10/100
Strength of Policy
0.5/1
Due Diligence Process
0/3
Evidence of Remediation
0/1
Source(s): Code of Business Conduct and Ethics 2021, page 10; Sustainability Report 2022, page 42, 44

Fair Working Conditions
52/100
Policy for Direct Operations
1.6/3
Monitoring & Discosure
1/2
Source(s): Code of Business Conduct and Ethics 2021, page 10; Supplier Code of Conduct 2022, page 3, 6; Sustainability Report 2022, page 42; Whistle Blowing Policy 2021, page 1, 2, 3, 4

Safety & Turnover Data
20/100
Committee representation of workers
0.5/2
Disclosure of safety and turnover data
0.5/3
Source(s): Policy Relating to Health, Safety and Welfare 2019, page 1, 2, 3; Sustainability Report 2022, page 33, 40

Freedom of Association
40/100
Strength of Policies
1/3
Disclosure of Collective Bargaining Metrics
1/2
Source(s): Code of Business Conduct and Ethics 2021, page 10; Supplier Code of Conduct 2022, page 6; Sustainability Report 2022, page 39, 40



Food Safety

25/100

Food Safety System
20/100
Certifications
1/3.5
Performance
0/1.5
Source(s): Code of Business Conduct and Ethics 2021, page 11; Sustainability Report 2022, page 54

Product Recalls & Market Bans
30/100
Product Recall Systems
0.5/3
Performance
1/2
Source(s): Sustainability Report 2022, page 53, 54



Sustainability Governance

5/100

Assessment of a Company's Sustainability Governance
5/100
Board Sustainability
0.25/2
Incentives & Policy Engagement
0/2.5
Innovation & Benchmarking
0/0.5
Source(s): Manual on Corporate Governance 2019, page 8, 9, 38; Sustainability Report 2022, page 2, 3



Alternative Proteins

30/100

Diversification of Products to Alternative Protein Sources
30/100
Existing product portfolio
0/2.5
Investing for future growth
1.5/2.5
Source(s): Annual Report 2022, page 33; Sustainability Report 2022, page 63; Veega Brand Social Media

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