Progress delivered on all three pillars of the Premier Foods ESG strategy

• Sales of healthier products increased 19% year on year to £397m
• Scope 1 and 2 emissions reduced by 22.4% vs FY20/21 baseline, as first major solar farm installed
• Close to 1m meals donated to families facing food insecurity

Premier Foods, one of the UK’s largest food manufacturers and home to some of the nation’s best-loved brands, delivered progress against all three pillars of its ESG strategy – the Enriching Life Plan – in the year to April 2024.

Detailed in the company’s FY23/24 Annual Report, the announcement marks the second consecutive year of strong progress against the strategy, which was launched in November 2021 and is articulated across three key strategic pillars – Product, Planet and People.

Product

Progress against Premier Foods’ Product pillar – which focuses on helping consumers lead healthier and more sustainable lifestyles by creating foods that are rich in nutrients, kinder to the environment, and free of unnecessary or problematic packaging – was widespread. This included increasing sales of products meeting higher nutritional standards, such as its healthier Mr Kipling Deliciously Good range, by 19% over the last year to £397m. In total, 44% of Premier Foods’ products now meet high nutritional standards as well as having registered heath or nutrition benefits, like one of your five-a-day or added fibre.

Planet

The Planet pillar, which contributes to a healthier planet by nurturing the natural resources we all rely on to make our food, made significant advances in a number of areas, including the steps taken to decarbonise the business. This includes a 22.4% reduction in Scope 1 and 2 emissions versus Premier Foods’ FY20/21 baseline, as the business laid out key steps towards its net-zero goals.

Additionally, Premier Foods’ first major solar farm was installed during the year. The renewable energy source will generate about 25% of the base load required for its site in Stoke – the home of Mr Kipling cakes – with a larger phase at the site now planned. The development marks a major step in Premier Foods’ transition to 100% renewable electricity and is one of a number of investments planned for the company’s other sites, including a much-bigger installation at the Group’s Carlton bakery in Yorkshire.

The company also launched a major new supplier engagement programme laying out key requirements of suppliers around climate action, resilience, deforestation, protecting natural resources, food waste and human rights.

People

In its mission to build the culture, skills and capabilities needed to help the UK food sector and wider economy thrive, whilst also giving back to the communities it operates in, Premier Foods is celebrating a number of milestones.

41% of senior management roles are now held by women. Meanwhile, following the recommendations of the Parker Review, targets have been set to improve representation for colleagues from ethnic minorities.

In the second full year of Premier Foods’ partnership with food distribution charity FareShare, the equivalent of nearly 1 million meals has been donated to charities working with those experiencing food insecurity. Additionally, Premier Foods colleagues donated over 500 days to charities and good causes in the past year, as the business ramps up to meet the 2030 target of volunteering 1,000 days per year.

Nick Brown, ESG Director at Premier Foods said: “Our Enriching Life Plan ESG strategy covers everything that Premier Foods touches, from the products we make to the ingredients we source and natural resources we rely on, to the culture of our people and the impact we have on the communities we operate in.

“It is a testament to the commitment of everyone at Premier Foods that we have been able to deliver substantial progress against so much of this plan in its first two years. However, the work doesn’t end here, and we are continuing to strive towards our 2030 goals, while delivering strong business performance that will help prepare the business for the future and enable us to invest and lead change and collaboration across the food industry.”

Full details about the Enriching Life Plan ESG strategy and targets are on pages 30 – 41 of the 2023-24 Annual Report.