Stockholm (NordSIP) – In a letter to Starbucks’ partners, customers and stakeholders, the company’s CEO, Kevin Johnson, announced a range of initiatives and goals “to take care of the planet we share.”
According to the CEO, Starbucks will expand plant-based options, shift away from single-use to reusable packaging, invest in reforestation, sustainable farming and water replenishment, improve its waste management recycling practices. The company will also seek innovation to improve the eco-friendliness of its operations.
Beyond these top-down strategies, the CEO also described three goals, whereby the Starbucks commits to halving carbon emissions, and in waste sent to landfill from stores and manufacturing by 2030. The company will also seek to ensure that half of the water withdrawn will be conserved or replenished with a focus on communities and basins with high water risk, by the same deadline.
“As we approach the 50th anniversary of Starbucks in 2021, we are looking ahead with a heightened sense of urgency and conviction that we must challenge ourselves, think bigger and do much more in partnership with others to take care of the planet we share,” Johnson said.
Since June 2018, Starbucks is ratted BBB or “Average” among its peers in the restaurant industry, according to MSCI ESG Ratings. The ratings company describes Starbucks as an “ESG Leader” in terms of corporate governance, raw material sourcing and opportunities in nutrition and health. It’s record on carbon emissions is ranked “Average”. It is, however, ranked as a “Laggard” regarding product safety & quality, supply chain labour standards and labour management. Starbucks is ranked above McDonald’s (BB) KFC and Pizza Hut owner Yum! Brands (BB) and Burger King’s Restaurant Brands International Inc.(BB), and on par with Domino’s Pizza and Chipotle. Above Starbucks, we find the Compass Group (A) and Ocado Group (A).
“It is encouraging to see Starbucks embrace a data-driven and team-driven approach to creating a resource positive future,” said Mark Lee, Executive Director, SustainAbility, reacting to the announcement. “Given their proven ability to tap into the passion and expertise of their partners around the globe, I am confident that they will succeed and that this will have a huge impact. Starbucks sustainability commitment is deeply embedded in their enterprise-wide strategies and in the hearts and minds of their leaders. Their most senior leadership was directly involved in the creation of this plan, and they did an outstanding job convening experts in the field in the course of its development, inviting them to help Starbucks dream big on what’s possible for the planet. This puts Starbucks in the vanguard of corporate sustainability leaders, and we hope more businesses will be inspired to develop similarly robust approaches to addressing the world’s most pressing sustainability challenges.”
Image © Starbucks