Nearly half of food and beverage companies with product sustainability programs report that sales have increased as a result of those programs, according to a new report from sustainability consulting firm Pure Strategies.
All of the companies surveyed said they have product sustainability goals this year, up from 82 percent in 2013.
In addition to increased sales, more food companies cite increased employee engagement and supply chain risk reduction among the top benefits of their product sustainability efforts.
While progress is evident, food and beverage companies have an opportunity to gain more from their efforts by implementing best practices modeled by leaders to address key issues in the food supply chain. For example, Mars and Nestle have brought sustainability into core business processes through leadership engagement and clear goals.
The report, The Food and Beverage Industry: Advancing on the Path to Product Sustainability, details how to maximize business value to keep pace with competitors’ rapid progress in product sustainability; steps for building strong corporate alignment and bringing product sustainability into the core of the business; and where companies in the food and beverage sector plan on focusing their product sustainability efforts in the coming years.
These findings echo findings Pure Strategies’ 2014 research, which found that product sustainability goals are the most common best practice among “performing” companies that say they have achieved widespread financial and organizational benefits from their programs.