Source: Supermarket News
Food retailers now have a comprehensive set of criteria to track their sustainability performance.
The non-profit Ratio Institute has released its Food Retail Environmental, Social and Governance (ESG) Reporting Standard, a guide for companies to make specific operational changes while enhancing transparency with investors and other stakeholders.
Historically, food retailers have tracked ESG performance from various non-industry-specific reporting frameworks, such as the Climate Disclosure Project and Global Reporting Initiative, making it difficult for investors, vendors, non-governmental organizations and shoppers to assess company efforts, the Santa Cruz, Calif.-based Ratio Institute said. The new standard organizes metrics across several well-established voluntary reporting frameworks into an easy-to-implement reporting approach specific to food retail.