To safeguard the environment while continuing to grow as a world-class dairy processor.
For us, this means:
- meeting our compliance obligations;
- preventing pollution;
- reducing our impact on, and adapting to, climate change;
- using natural resources sustainably;
- protecting biodiversity and ecosystems;
- leveraging our capabilities as a business to create positive environmental actions.
Our efforts are underpinned by our Environmental Policy and overseen by our Environmental Committee, chaired by our Chief Executive Officer and composed of the President and Chief Operating Officer of the Company and of each of its Divisions, as well as the senior managers responsible for environmental matters. Our manufacturing facilities manage their environmental impact with support from divisional environmental teams to ensure compliance with our environmental standards.
We’re committed to accelerating our global climate, water, and waste (including packaging) performance by 2025, supported by a three-year investment of $50M (FY21-FY23). This represents another strong step in our journey to create shared value for its stakeholders through the Saputo Promise. In August 2021, we formalized that commitment even further by introducing a sustainability-linked loan (SLL) structure to our $1 billion USD revolving credit facility. The SLL structure introduces an annual pricing adjustment based on the achievement of key climate and water targets in line with our 2025 commitments.
More specifically, we committed to:
- Reduce the CO2 intensity of our operations by 20%.
- Reduce the energy intensity of our operations by 10%.
- Reduce the water intensity of our operations by 10%.
- Improve our wastewater quality year-on-year.
- Reduce our total waste by 25%.
- Increase our diversion rate to 75%.
- Reduce our food waste by 50%.
- Reduce our material use by 15%.
- Ensure 100% of our packaging is reusable, recyclable or compostable.
- Ensure our packaging includes at least 15% of recycled or renewable content.
The Company allocated additional resources to support the execution of this global action plan, including a three-year investment of CDN$50 million. Also, Saputo has established a governance framework to foster Company-wide accountability and ownership, with President and COO, Dairy Division (UK) acting as global champion. We made great strides towards our 2025 environmental targets in FY21, allocating a portion of our three-year investment to complete 12 specific projects across our network, which should deliver notable climate, water and waste savings.