Sysco Announces 2019 Corporate Social Responsibility (CSR) Report
Source: Sysco Corporation
via Globe Newswire - November 06, 2019
HOUSTON, Nov. 06, 2019 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY), the leading global foodservice distribution company, announced today it has published its 2019 Corporate Social Responsibility (CSR) Report, documenting the company’s progress toward the 2025 CSR goals established in 2018. Sysco’s CSR strategy focuses on three key areas: people, products and planet, with the objective of Delivering A Better Tomorrow. This strategy sets a clear path for the future and demonstrate the company’s continued commitment to caring for people, sourcing products responsibly and protecting the planet.
“As we celebrate Sysco’s 50th anniversary this fiscal year, we understand the importance of a strong CSR strategy that is focused on finding systemic solutions and leverages strong partnerships,” said Tom Bené, chairman, president and chief operating officer. “Our entire organization is committed to acting ethically and responsibly to service our customers, while producing positive, lasting change.”
The 2019 CSR Report details the progress made in the last year against Sysco’s 2025 goals, including a CSR scorecard that measures results from year-to-year, along with plans for the future.
“We have a long-term commitment to making sustained change,” added Bené. “And so we are testing, learning and continually adapting to lead the way and deliver on our 2025 CSR goals into our next 50 years.”
FY 2019 Progress Highlights:
Provided 7.5 million meals and $6.4 million in cash contributions to communities where we live and work
Added 15 new Minority- and Women-Owned Business Enterprises (MWBE) suppliers; increased year-over-year purchases in the U.S. by 4.3%
Increased total U.S. associate ethnic and gender diversity to 57.2%
Launched Sysco Simply brand, emphasizing vegan, vegetarian, flexitarian and plant-based protein products
Refreshed Sysco’s Animal Welfare Advisory Council by adding new internal and external members
Developed a short list of 13 commodities for further evaluation as “key commodities”
Increased the total number of assessments in our Sysco Brand Supplier Social Audit Program by nearly 9% with more than 30 suppliers improving their performance
Launched 3 solar garden sites, supporting 10% of Sysco’s U.S. electricity usage – halfway to our goal
Increased waste diversion to 73% in U.S. and Canada operations
Improved energy efficiency by 14.2% since 2014 in U.S. and Canada operations
In addition to efforts in North America, Sysco’s European operations also support meaningful CSR programs. For example, many locations have established impactful hunger relief programs that provide nutritious food to local communities. Specifically, Brakes UK has committed to provide 1 million meals to children in need by 2025 in support of Sysco’s overall commitment, Sweden’s Menigo Foodservice supported a local church with 52.6 metric tonnes of food during the year and Sysco France donated 51 tons of product to the French Food Bank (Banque Alimentaire).
For more information, visit www.sysco.com/csr2019report.
Sysco is the global leader in selling, marketing and distributing food products to restaurants, healthcare and educational facilities, lodging establishments and other customers who prepare meals away from home. Its family of products also includes equipment and supplies for the foodservice and hospitality industries. With more than 69,000 associates, the company operates more than 320 distribution facilities worldwide and serves more than 650,000 customer locations. For fiscal 2019 that ended June 29, 2019, the company generated sales of more than $60 billion. Information about our CSR program, including Sysco’s 2019 Corporate Social Responsibility Report, can be found at www.sysco.com/csr2019report.
For more information, visit www.sysco.com or connect with Sysco on Facebook at www.facebook.com/SyscoCorporation or Twitter at https://twitter.com/Sysco. For important news and information regarding Sysco, visit the Investor Relations section of the company’s Internet home page at investors.sysco.com, which Sysco plans to use as a primary channel for publishing key information to its investors, some of which may contain material and previously non-public information. Investors should also follow us at www.twitter.com/SyscoStock and download the Sysco IR App, available on the iTunes App Store and the Google Play Market. In addition, investors should continue to review our news releases and filings with the SEC. It is possible that the information we disclose through any of these channels of distribution could be deemed to be material information.
Statements made in this press release that look forward in time or that express management’s beliefs, expectations or hopes are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the views of management at the time such statements are made and are subject to a number of risks, uncertainties, estimates, and assumptions that may cause actual results to differ materially from current expectations, including but not limited to the possibility that certain assumptions with respect to J. Kings Food Service Professionals or the transaction could prove to be inaccurate; the failure to receive, delays in the receipt of, or unacceptable or burdensome conditions imposed in connection with, all required regulatory approvals and the satisfaction of the closing conditions to the transaction; the potential failure to retain key employees as a result of the proposed transaction or during integration of the businesses and disruptions resulting from the proposed transaction, making it more difficult to maintain business relationships; the effect of the announcement of the transaction on our customers, vendors, lenders, operating results and businesses generally; and the general risks associated with our business, including the risks of interruption of supplies due to lack of long-term contracts, severe weather, crop conditions, work stoppages, intense competition, technology disruptions, dependence on large, long-term regional and national customers, inflation risks, the impact of fuel prices, adverse publicity, labor issues, political or financial instability, trade restrictions, tariffs, currency exchange rates, transport capacity and costs and other factors relating to foreign trade, any or all of which could delay our receipt of product or increase our input costs. For a discussion of additional factors impacting Sysco’s business, see our Annual Report on Form 10-K for the year ended June 30, 2018, as filed with the SEC, and our subsequent filings with the SEC, including our Quarterly Report on Form 10‑Q for the third quarter of fiscal 2019. We do not undertake to update our forward-looking statements, except as required by applicable law.
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