#Sustainability #Canada #strategic growth #Mississauga #Maple Leaf Foods

Maple Leaf Foods' 2024 Integrated Report: A Commitment to Sustainability

Maple Leaf Foods, a prominent player in the consumer packaged goods industry, has unveiled its annual Integrated Report for 2024, focusing on sustainability and strategic achievements. The report is a comprehensive overview that not only showcases financial performance but also emphasizes the company's dedication to shared value and sustainable growth.

A Year of Strategic Progress

In a statement, Curtis Frank, the President and CEO of Maple Leaf Foods, highlighted the significant advancements made during 2024. He noted how the strength of the company's renowned brands and well-structured growth strategies contributed to a robust performance. Frank stated, "Fueled by the strength of our leading brands, the resilience of our growth strategies, and the financial benefits from our large-scale capital investments, we exited the year with strong momentum..." This assertion reflects the company's focus on becoming a purpose-driven, protein-focused powerhouse in the packaged goods sector.

Key Highlights of the Report

The report underscores the leadership of Maple Leaf Foods in various areas including sustainability, animal care, food safety, and efforts to combat food insecurity. It outlines progress against their goals based on pillars such as:

1. Making Better Food: Maple Leaf Foods continues to innovate and lead the market with high-quality products. Its flagship brands, Schneiders and Maple Leaf, secured the top two spots in the Canadian Packaged Meats market. Additionally, the company introduced 50 new products throughout the year, enhancing its offerings to meet shifting consumer preferences.

2. Taking Better Care of Our People: In 2024, the company conducted 11 social compliance audits and improved its Total Recordable Incident Rate (TRIR) to 0.37, marking a 94% improvement since 2012. This reflects a strong commitment to employee safety and welfare.

3. Taking Better Care for Our Communities: The Maple Leaf Centre for Food Security continued its impactful work with a commitment of $13.3 million to address food insecurity across Canada over the past eight years. In 2024 alone, the company donated $4 million in food products and supported over 33 communities through volunteer efforts.

4. Taking Better Care of Our Animals: Committed to animal welfare, Maple Leaf Foods achieved 100% open sow housing in its owned farms, aligning with industry standards. Further, the company invested in humane processing technologies, ensuring welfare standards are met and continuously improved.

5. Taking Better Care of Our Planet: By the end of 2024, Maple Leaf Foods reported a 5.1% reduction in absolute Scope 1 and 2 emissions and a 15.6% reduction in Scope 3 emissions intensity compared to the 2018 baseline. The company expanded regenerative agriculture initiatives in collaboration with Nutrien, increasing coverage from 19,000 acres to over 250,000.

Looking Ahead

The insights from Maple Leaf Foods' Integrated Report suggest that the company is on a strong path toward its vision of becoming the most sustainable protein company globally. As outlined by CEO Curtis Frank, the refreshed Strategic Blueprint will guide the company toward achieving success while upholding sustainability as a core value.

The full 2024 Integrated Report is accessible on their official website for those interested in a deeper dive into Maple Leaf Foods' commitment to sustainability and strategic growth strategies.

In summary, Maple Leaf Foods is not just focused on financial accomplishments; it is deeply invested in social responsibility and ecological stewardship, setting a benchmark within the industry. For more detailed insights and to view the complete report, visit Maple Leaf Foods Integrated Report.