The J.M. Smucker Co.
At a Glance
Consumer Packaged Goods
Goals/Targets, Sustainability and Energy Management Strategy
At The J.M. Smucker Co., Priya spearheaded the identification of a comprehensive suite of critical nature-based metrics, along with an implementation strategy.
The J.M. Smucker Co.’s (Smucker) emissions, particularly within scope 3, predominantly stem from the agricultural sector. These emissions are linked to nature-related impacts and are hindered by the absence of standardized metrics for tracking progress.
To address this disparity, Smucker engaged Priya Iyer to evaluate and propose critical nature-based metrics, as well as monitoring, reporting, and verification standards for its priority commodities. This assessment encompassed an examination of diverse factors within both the supply chain and industry standards.
Priya addressed the challenge through a well-structured assessment framework:
- Identified industry-recommended nature-based metrics and standards: With over 127 applicable metrics, Priya evaluated these metrics using nine distinct factors, and distilled down a list of 13 critical metrics, across five priority commodities.
- Devised an approach for implementing nature-based metrics: To overcome a challenging lack of standardization, Priya evaluated and synthesized various industry standards and guidance. She further engaged with project partners, conducted peer analyses, and delved into customer priorities. This collective input informed the creation of a roadmap.
- Explored on-farm value chain opportunities: Through established partner initiatives, peer-driven efforts, and the Nature Benefits Explorer tool, these effectively showcased nature-based actions aligned with their respective metrics.
Employing the proposed metrics alongside the devised approach will enable tracking and action on the majority of Smucker’s scope 3 emission reductions. Additionally, there are potential long-term advantages tied to the adoption of these metrics, particularly concerning carbon credits.
Consequently, Smucker can adopt a data-driven approach, significantly advancing toward the goal of attaining a 22% reduction within scope 3 emissions. With an array of metrics at their disposal, Smucker can effectively strategize actions and communicate their cumulative impact through reports and disclosures.