Conagra Brands Inc

Conagra Brands has completed TCDF-aligned scenario analysis, that covers its entire portfolio of directly procured ingredients, including animal proteins. The company's assessment models a 1.6-2ºC scenario. The findings from the scenario analysis are used to inform the company's Responsible Sourcing Priority list, with each ingredient having a specific responsible sourcing strategy. The company also recognises the climate mitigation and financial opportunity associated with protein diversification.

The company's Scope 3 emissions from purchased goods and services primarily stem from ingredients, constituting 87% of the total. Within this category, emissions are distributed as follows: 70% from farming activities, 20% from land use changes, and 10% from processing. However, it has not reported a full breakdown of its Scope 3 emissions derived from animal agriculture, including a breakdown by protein type.

Conagra Brands set a 2C SBTi approved Scope 3 target, to reduce the emissions from purchased goods and services by 20% per metric ton of material sources by 2030, from a FY2020 base year. There is no evidence that the company plans to update this target.

Conagra Brands recognises that encouraging a greater consumption of plant-based foods is a key facet of the FAO sustainable diets definition. The company highlights that a significant proportion of its ingredients by volume are plant-based, and its plant-based brand Gardein has generated more than $160 million in retail sales in FY2023. To reach more customers and generate more demand in this space the company continues to innovate new products. The company has not quantified the climate and/or financial opportunity presented by transitioning its portfolio away from animal proteins.

The company has not disclosed a time-bound target to diversify its protein portfolio. The company does, however, have a protein diversification strategy that feeds into its climate strategy. The company is focused on the R&D of new plant-based products and the acquisition of existing brands to grow its offering and support its efforts towards its Scope 3 target.

The company does not have a protein diversification target.

There is no evidence for this KPI.

There is no evidence for this KPI.

The company reports that in fiscal year 2023, plant-based offerings constituted 81% of all ingredients by volume that it procured.

In fiscal year 2022, plant-based offerings comprised 68% of all ingredients by volume, whereas in fiscal year 2023, this figure increased to 81%.

The company's board and the Nominating and Corporate Governance Committee oversee climate-related matters and strategy, encompassing its strategy for diversifying protein sources. However, it has not mentioned a protein diversification target and it is unclear if the company's board has regular oversight of progress towards a protein diversification target.

Multiple members of the company's board have expertise in sustainability.

None of the company's board members have expertise on nutrition/health.

Conagra Brands engages in lobbying activities at the federal level and is required to disclose its lobbying activities and expenditures to relevant authorities. The company is also a member of several trade associations, subject to management oversight, to stay informed about industry issues and participate in shaping public policy. Also, it discloses the amount of dues allocated to lobbying by each trade association annually.

The company discloses that it is involved in lobbying activities. However, there is no evidence of their alignment with positive climate and nutrition outcomes.

The company discloses a list of the trade associations it comprises.

There is no evidence for this KPI.

Conagra Brands has not committed to decarbonising its business in line with the principles of a Just Transition.

The company has not committed to retraining, reskilling, or compensating workers affected by Just Transition in animal agriculture.

The company provides support to its farmers in transitioning towards regenerative practices. However, it is unclear the extent to which these initiatives support animal agricultural supply chain stakeholders' transition towards more sustainable practices.

The company has outlined its regenerative farming practices. However, it has not developed a Just Transition strategy, that covers animal agriculture.

There is no evidence for this KPI.

There is no evidence for this KPI.

There is no evidence for this KPI.

Conagra Brands introduced new products at the Natural Products Expo West 2024, set to launch in May. Gardein is rolling out Ultimate Plant-Based Meatballs and F'sh®, catering to vegan and flexitarian diets, along with Chick'n Fried Rice Bowls. Additionally, Purple Carrot revealed two single-serve bowls, emphasizing tasty plant-based meals in response to increasing demand, particularly within the frozen single-serve meal segment. Additionally, the company has established its own Plant-based Centre of Excellence made up of scientists and culinary professionals to encourage plant-based innovation.

There is no evidence for this KPI.

Conagra discloses approximately 70% of its meatless options are rated A or B by Nutri-score. It is unclear how the company is working to improve the sustainability of its plant-based products.

In 2023, Conagra embarked on a new initiative to reduce sodium by an average of 15% in over 200 consumer products including brands such as Marie Callenders, Birds Eye and Orville Redenbacher's. These brands all sell plant-based products.

There is no evidence for this KPI.

There is no evidence for this KPI.

There is no evidence for this KPI.

The company provides nutrition ratings via Nutri-Score on its plant-based brand. The products are rated on a scale of A to E based on their nutrition content. Under its Gardein brand, the company uses smart labels to signal the health benefits of its products. However, aside from this, there is limited evidence of the company proactively running campaigns to discuss the nutrition/health attributes of plant-based products.

There is no evidence for this KPI.

The company has stated that in response to the increasing consumer interest in plant-based foods, it has broadened its range of plant-based alternatives. However, there is no evidence of it conducting its consumer research itself or through a third party.

The company acknowledges the increasing consumer preference for foods that support health and wellness goals. However, there is no evidence that the company uses consumer research related to healthy diets to inform its marketing strategy for alternative protein sources.