Saputo will invest CDN$50 million ($37.60 million) to meet a series of climate, water and waste targets by 2025, in a move to boost its sustainability efforts.
The capital, which will be invested over a span of three years, will support the company’s targeted initiatives outlined for 2025. These will focus on renewable electricity, resource conservation and sustainable packaging.
As part of its commitments, Saputo has pledged to reduce its CO2 intensity by 20% and its energy intensity by 10%.
In terms of water usage, the Canadian dairy company aims to reduce the water intensity of its operations by 10%.
Meanwhile, Saputo has outlined its efforts to reduce its total waste by 25% and increase its diversion rate to 75%. This will include reducing its food waste by 50% and material use by 15%.
Finally, the company has pledged to ensure 100% of its packaging is reusable, recyclable or compostable with its new packaging including at least 15% recycled or renewable content.
To support the execution of its plans, Saputo has established a governance framework to foster company-wide accountability and ownership, with Carl Colizza, president and COO of its North America division, serving as its executive champion.
Saputo said its sustainability commitments represents another strong step in the company’s journey to create shared value for its stakeholders through the Saputo Promise, its approach to social, environmental and economic performance.
Looking ahead, Saputo said it will extend its efforts to its supply chain to further assist in helping address industry-wide environmental considerations.
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