Governance and strategy

In the governance and strategy measurement area, companies across all segments generally perform well in the benchmark. Among the top 25 companies, only the restaurant and food service segment is not represented. The top 25 consists primarily of companies in the food and beverage processor and manufacturers segment. Nevertheless, while companies generally perform well, this does not always translate into a strong performance across the other measurement areas. This illustrates that a wide-ranging sustainability strategy with accountability systems and stakeholder engagement in place does not always lead on to high performance in other areas.

Approximately three quarters of companies have a sustainability strategy, with over a quarter of these companies setting time-bound targets for relevant sustainability topics. However, only around 10% of companies address topics in all dimensions of the benchmark (environment, nutrition and social inclusion), highlighting that most companies do not take a holistic sustainability approach. Moreover, while 70% of the companies disclose that they have established a governance and accountability framework, only 50% of companies report that this is overseen by the highest governance body.

Looking ahead, companies have the greatest opportunity to improve their performance regarding their stakeholder engagement activities. Around half of the companies do not disclose sufficient evidence in this area, with only 4% of companies reporting a strategic and continuous stakeholder engagement process which addresses all three benchmark dimensions. There is an opportunity for companies to increase their disclosure on their process for identifying and engaging with stakeholders, as well as how the outcomes of this process are integrated into the company’s wider sustainability strategy.