The Hershey Company is making progress on its commitment to act on climate change. Recent initiatives include the launch of a third utility-scale solar project, energy and water optimization investments and continued progress addressing land use change. As stated in its 2021 ESG (Environmental, Social and Governance) Report, the candy and snack maker reduced its Scope 1 and 2 emissions by 48 percent and Scope 3 emissions by 18 percent against a 2018 baseline. As part of its science-based targets, Hershey aims to reduce Scope 1 and 2 emissions by 50 percent and Scope 3 by 25 percent by 2030.
Investing in renewable energy Hershey and National Grid Renewables announced Hershey's 140-megawatt Power Purchase Agreement (PPA) for the Copperhead Solar & Storage Project in Falls County, Texas earlier this month. The project is expected to produce an estimated $25 million in direct economic impact throughout its first 25 years of operation, including the production of new tax revenue, onsite operations jobs and the creation of a charitable fund estimated at $600,000. This is Hershey's third solar PPA. The company's second project with National Grid Renewables, Noble Solar & Storage, is located in Denton County, Texas.