In 2023, Hormel Foods completed a corporate carbon footprint assessment and publicly disclosed its greenhouse gas (GHG) emissions according to the GHG Protocol, covering Scope 1 (direct emissions from owned or controlled sources) and Scope 2 (indirect emissions from purchased energy).
However, Hormel Foods has not published a category-level breakdown of its Scope 3 emissions, limiting visibility into specific value chain sources.
| Metric (tCO2e) | 2023 | 2022 | 2021 | 2020-2019 |
|---|---|---|---|---|
Total Scope 1 | 625,338a | 635,226a | 638,846b | |
Total Scope 2 | ||||
Market-Based | 40,770a | 22,680a | N/A | |
Location-Based | 437,394a | 444,707a | N/A | |
Total Scope 3 | N/A | N/A | 12,492,387b | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 51.6381a | 50.9861a | 56.1071b |
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In 2023, the total operational greenhouse gas (GHG) emissions of Hormel Foods amounted to 1,062,732 metric tons of CO2 equivalent. This figure includes both direct emissions from owned or controlled sources (Scope 1) and indirect emissions from purchased energy (Scope 2).a
Compared to 2022, the total operational greenhouse gas (GHG) emissions of Hormel Foods decreased by 1.59%, showing that the company has made progress in taking action to reduce the climate impact of its operations.a
In 2023, the total Scope 1 emissions of Hormel Foods were 625,338 metric tons of CO₂ equivalent (tCO₂e).a
Since 2020, Hormel Foods's Scope 1 emissions have decreased by 35.43%, reflecting a declining long-term trend in Scope 1 emissions over time.ac
Compared to the previous year (2022), Hormel Foods's Scope 1 emissions decreased by 1.56%, highlighting the company's efforts to lower direct emissions from assets it owns or controls.a
In 2023, Hormel Foods reported Scope 2 greenhouse gas (GHG) emissions of 40,770 tCO₂e using the market-based method and 437,394 tCO₂e using the location-based method.a
Since 2020, Hormel Foods's Scope 2 greenhouse gas (GHG) emissions (Location-Based) have decreased by 12.61%, reflecting a declining long-term trend in Scope 2 emissions over time.ac
Compared to the previous year (2022), Hormel Foods's Scope 2 emissions (Location-Based) have remained relatively stable, indicating that Hormel Foods's emissions have plateaued with no significant change in its energy consumption footprint.a
In 2023, Hormel Foods reported its Scope 2 emissions using the market-based method and using the location-based method.a
In 2023, Hormel Foods reported Scope 1 greenhouse gas (GHG) emissions of 625,338 tCO₂e and total revenues of USD 12,110 millions. This translates into an emissions intensity of 51.64 tCO₂e per millions USD.a
In 2023, Hormel Foods reported a Scope 1 emissions intensity of 51.64 tCO₂e per millions USD. Compared to the peer group median of 37.76, this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors.a
In 2023, Hormel Foods ranked 20 out of 23 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
This places Hormel Foods among the least efficient performers, with one of the highest emissions intensities in its sector.a