► SustainabilityOur Approach and Governance

Our Approach and Governance

Being a responsible business is not new at Premier Foods and our strengthened Enriching Life Plan builds on the great progress made over recent years. The landscape is rapidly evolving, and it is important we continue to effectively tackle emerging issues and meet evolving stakeholder expectations.
 

An evolving landscape

When developing our Enriching Life Plan, we performed a thorough market trends analysis, peer and competitor benchmarking, wider sectorial, geographical and political horizon scanning, and also reviewed existing legal, regulatory and reporting requirements applicable to our business, to understand the challenges facing the food industry now, and in the future.

 
 

 

Listening to our stakeholders: the materiality assessment process

Working with independent sustainability experts from the food industry, we embarked on a materiality assessment, with the aim to identify and prioritise the issues most relevant to our business and to understand and reflect the views of our stakeholders. We’ve conducted more than twenty in-depth interviews with our customers, members of our investor community, NGOs, policy experts, and our colleagues. The whole process culminated with the launch of our Enriching Life Plan in October 2021.

As we - industry, policy makers, non-governmental organisations (NGOs), scientists and citizens alike - all understand the issues better, the need for bolder and faster action becomes clearer.

Partnership for our goals Our Enriching Life Plan sets out our contribution to the United Nations Sustainable Development Goals (UNSDGs). When setting our targets, we aimed to align our ambition with leading groups and platforms for collaboration and action to ensure our impact is maximised, joining forces with other organisations to help shape a more sustainable food system for all. As signatories and members to these initiatives, we hold ourselves accountable against industry-wide targets and strive to push ourselves to contribute to wider change. These include:

>
   

 


Our Governance and reporting approach


We believe everyone at Premier Foods plays a part in delivering our Enriching Life Plan and sustainability lives at all levels of the business: from our Board who has oversight of our strategy and of our climate related and other ESG risks, through to our specialist Working Groups who report into our ESG Governance Committee, and our networks of passionate colleagues like the I&D Ambassadors, Green Matters or Charity Champions, who all help us to bring our Enriching Life Plan to life across our business. The Governance structure also ensures that climate-related risks are embedded in the day-to-day ways of working of the business: a Taskforce for Climate-related Financial Disclosures (TCFD) steering group has been established under the leadership of the CFO, to include climate-related risks in our Enterprise Risk Management process, reviewed by the Board’s Audit Committee. For our latest Disclosure, please see our results centre.

Holding ourselves accountable against our targets is essential, and we are committed to publishing progress made against our Enriching Life Plan annually (find our latest progress in our annual report). We remain committed to sharing our data and progress with industry platforms such as UK Plastics Pact, Courtauld 2030, Champions 12.3 and the Carbon Disclosure Project (CDP). More can be found in our Enriching Life Plan Disclosure Table.

 
RSPO use of logo: License number: 4-0019-06-100-00. Check our progress at https://rspo.org/members/103/ Premier-Foods- Group-Limited