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Smithfield blends sustainability with financial results
Story Date: 8/13/2012
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Source: Rita Jane Gabbett, MEATINGPLACE, 8/10/12
Smithfield Foods announced it is issuing its first-ever integrated report this week that combines a financial and sustainability results for fiscal year 2012 in one publication, having added “value creation” to its sustainability principles.
The 2012 Integrated Report will be available online and in print at http://www.smithfieldfoods.com/and www.smithfieldcommitments.com.
“Value creation and economic performance have always been at the heart of our sustainability commitments and performance,” Smithfield Foods President and Chief Executive Officer C. Larry Pope said in a news release. “By combining the two reports, we are better able to explain how our sustainability efforts relate to our financial success as a corporation."
"Our sustainability strategy is based on our core values and organized by five pillars that represent our key areas of sustainability focus: animal care, employees, environment, food safety and quality, and helping communities,” said Dennis Treacy, executive vice president and chief sustainability officer. “This year, we have also identified and report on a sixth pillar, value creation, recognizing that this concept underpins our sustainability strategy and connects it with our business results."
The company cited the following sustainability accomplishments:
Since 2004, the company has saved an estimated $285.6 million in operating costs through environmental improvement awards projects that cost $57.5 million to implement.Additional employee training has greatly reduced the number of worker injuries and decreased workers' compensation costs by an estimated 25 percent between April 2010 and April 2012.All of Smithfield's independent operating companies (IOCs) have sponsored one or more employee wellness programs. Several recent packaging reduction initiatives across all Smithfield IOCs yielded savings of $2.75 million.Smithfield donated 6.9 million servings of food in the U.S. in fiscal 2012.
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