Report highlights progress towards 2020 targets and opportunities for
water stewardship, supply chain resiliency, and K-Cup recyclability
WATERBURY, Vt.--(BUSINESS WIRE)--
Today Keurig Green Mountain, Inc. (Keurig) (NASDAQ: GMCR), a leader in
specialty coffee, coffee makers, teas, and other beverages, launched its
tenth annual Sustainability
Report. The report focuses on Keurig's efforts to strengthen its
global corporate citizenship and sustainability leadership, highlighting
recent sustainability initiatives, progress against the Company's 2020
sustainability targets, and a new water stewardship target. The report
underscores accomplishments and opportunities within Keurig's
sustainability practice areas, with a particular focus on water
stewardship, supply chain resiliency, and sustainable products -
especially K-Cup® recyclability.
"In our fiscal 2014, we looked inward to ensure we are integrating
sustainability into everything we do, from our operations to our
business planning," said Brian Kelley, Keurig's President and CEO.
"Building a sustainable organization takes time, vision, and
persistence. We're proud of where we are now, and realistic about the
challenges that lie ahead. We're deeply committed to becoming more
sustainable through relentless, incremental improvements that allow us
to get a little bit better each and every day."
Keurig has achieved solid progress against several 2020 targets ranging
from increased waste diversion from landfill to employee engagement.
Said Monique Oxender, Keurig's Chief Sustainability Officer, "This year,
we focused on identifying the opportunities and building the processes
and partnerships necessary to deliver on our 2020 sustainability targets
— steps that will also be integral to delivering on our core business
objectives. We couldn't do it without the engagement of employees across
the organization, who enable us to continue to translate our company
values into action."
Highlights from this year's sustainability report include the following:
SUSTAINABLE PRODUCTS: K-CUP PACK RECYCLABILITY
sustainability priority for Keurig is ensuring that 100% of K-Cup®
packs are recyclable by 2020. Keurig is taking a holistic approach to
finding a solution to this challenge, focusing on product design,
recycling infrastructure, and the end market development for the
materials. The Company expects to make significant progress well before
2020, and is currently testing key design concepts for a K-Cup®
pack that can be easily separated and readily recycled.
Keurig is collaborating with the recycling community and its partners to
ensure that K-Cup® packs aren't just recyclable in theory,
but can also be effectively recycled in the majority of communities.
This includes supporting efforts to expand the recycling infrastructure
so more materials can be conveniently recycled in more locations. In
2014, Keurig committed to investing $5 million over five years in
recycling solutions via the Closed
Loop Fund, a coalition of companies that are providing essential
investments required to meet some of the larger challenges to recycling
access in the United States.
Access to and availability of water is
critical throughout Keurig's value chain and is intertwined with other
global challenges such as climate change and the need to feed a growing
population. Within this complexity, Keurig is addressing water
stewardship opportunities with a new 2020 target and by engaging its
network of partners and consumers to expand the impact of its efforts.
The Company's new 2020 water stewardship target is to balance, ounce for
ounce, the water used in all of Keurig's beverages. For every cup
consumers brew, Keurig's target is to restore the same amount of water
for natural and community uses. Keurig is developing quantifiable
projects, with an emphasis on those that build or promote natural water
management infrastructure, provide source water protection, and restore
river and streambank zones and urban waters.
Keurig's approach to water stewardship aims to be both responsive and
restorative. Keurig intends to optimize resources through
efficient use of water in our own operations; balance the water
used in all our beverages through projects that restore an equal volume
of water; and connect people to clean water sources.
The company achieved a significant milestone in 2014, convening more
than 130 leaders from the companies within the Keurig partner network,
as well as from the public and NGO sectors at its first annual water
summit, CURRENT: Collaborating for a Water-Secure World. This summit
sought to identify opportunities to overcome barriers and collaborate on
solutions for key water challenges at home and across the globe. Keurig
will reconvene this invited group at the second annual CURRENT event in
Vermont, September 2-3, 2015.
RESILIENT SUPPLY CHAIN
Keurig's responsible sourcing and
supply chain outreach programs aim to provide its suppliers, their
employees, and their communities with the skills and tools to build a
foundation of resilience that will help improve their business practices
and employees' livelihoods while ensuring a long-term, sustainable
supply of high-quality products and ingredients.
In early 2014, Keurig set corporate targets to help improve livelihoods
and provide access to clean water in supply chain communities. Work
performed in supply chain communities in 2014 showed significant overlap
in the impact driven by these two workstreams. As a result, water
security is being folded into a revised supply chain livelihoods target.
In fiscal year 2014, more than 383,000 people were positively impacted
through Keurig-funded partner projects in its supply chain.
Keurig has also committed to source 100% of primary agricultural and
manufactured products by 2020 according to its established responsible
sourcing guidelines. In fiscal year 2014, Keurig released updated
guidelines to suppliers that reinforce the Company's efforts to help
suppliers meet its high standards for quality, safety, and social and
environmental responsibility. Knowing where products originate is the
first step towards responsible sourcing and 64% of the Company's coffee
was traceable to source in fiscal year 2014.
Full details of Keurig's 2014 Sustainability Report can be found at http://www.KeurigGreenMountain.com/Sustainability/Overview.aspx.
About Keurig Green Mountain, Inc.
As a leader in
specialty coffee, coffee makers, teas and other beverages, Keurig Green
Mountain (Keurig) (NASDAQ: GMCR), is recognized for its award-winning
beverages, innovative brewing technology, and socially responsible
business practices. The Company has inspired consumer passion for its
products by revolutionizing beverage preparation at home and in the
workplace. Keurig supports local and global communities by investing in
sustainably-grown coffee and by its active involvement in a variety of
social and environmental projects. By helping consumers drink for
themselves, we believe we can brew a better world. For more information
To purchase Keurig® products visit: www.Keurig.com
Keurig routinely posts information that may be of importance to
investors in the Investor Relations section of its website, www.KeurigGreenMountain.com,
including news releases and its complete financial statements, as filed
with the SEC. The Company encourages investors to consult this section
of its website regularly for important information and news.
Additionally, by subscribing to the Company's automatic
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Certain information in this press
release constitutes "forward-looking statements." Forward-looking
statements can be identified by the fact that they do not relate
strictly to historical or current facts. They often include words such
as "believes," "expects," "anticipates," "estimates," "intends,"
"plans," "seeks" or words of similar meaning, or future or conditional
verbs, such as "will," "should," "could," "may," "aims," "intends," or
"projects." However, the absence of these words or similar expressions
does not mean that a statement is not forward-looking. These statements
may relate to: the expected impact of raw material costs and our pricing
actions on our results of operations and gross margins, expected trends
in net sales and earnings performance and other financial measures, the
expected productivity and working capital improvements, the success of
introducing and producing new product offerings, the impact of foreign
exchange fluctuations, the adequacy of internally generated funds and
existing sources of liquidity, such as the availability of bank
financing, the expected results of operations of businesses acquired by
us, our ability to issue debt or additional equity securities,
projections for future capital expenditures, our expectations regarding
purchasing shares of our common stock under the existing authorizations,
projections of payment of dividends, the impact of pending shareholder
litigation, and the impact of antitrust litigation pending against the
Company in the United States and Canada. A forward-looking statement is
neither a prediction nor a guarantee of future events or circumstances,
and those future events or circumstances may not occur. Management
believes that these forward-looking statements are reasonable as and
when made. However, caution should be taken not to place undue reliance
on any such forward-looking statements because such statements speak
only as of the date when made. We expressly disclaim any obligation to
update or revise any forward-looking statements, whether as a result of
new information, future events or otherwise. In addition,
forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially from
our historical experience and our present expectations or projections.
These risks and uncertainties include, but are not limited to, those
described in Part I, "Item 1A. Risk Factors" and Part II "Item 7.
Management's Discussion and Analysis of Financial Condition and Results
of Operations" in our fiscal 2014 Annual Report filed on Form 10-K,
elsewhere in that report and those described from time to time in our
future reports filed with the Securities and Exchange Commission.
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20150219006059/en/
Jessica Hesselschwerdt, 617-939-8415
Green Mountain, Inc.
Sandy Yusen, 802-488-1462
Source: Keurig Green Mountain, Inc.
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