Compass Group, the world’s largest food services group, today launched its Sustainable Financing Framework, enabling the business to issue green, social and sustainability bonds, as well as other types of financing in support of its ESG objectives, including its Net Zero commitment.
In October 2021, Compass proudly became the first international company in the contract catering industry to announce a global commitment to a 2050 Net Zero emissions economy, underpinned by approved 2030 Science Based Targets and a further commitment to be carbon neutral worldwide across its own operations by 2030.
The Sustainable Financing Framework further aligns the company’s financing strategy with its “Planet Promise”, the Group’s commitment to a sustainable future for all, encompassing its values as an ethical, sustainable, and inclusive business, together with its ambition to positively impact the world. Proceeds of financing raised under this new Framework will be used to finance or refinance new or existing eligible green and/or social expenditure projects which provide clear benefits to the environment and to society.
Dominic Blakemore, Group Chief Executive Officer of Compass Group, said:
“As the world’s largest food services company, we are in a unique position to drive real change in the industry as it transitions to a more environmentally friendly and sustainable global food system. Our new Sustainable Financing Framework will support our progress towards reaching Net Zero by 2050, reducing food waste, sourcing more sustainable products, switching to more plant-forward menus and educating consumers about the nutritional and environment impact of their options. Our investment in sustainability is one of the drivers of growth for Compass as we help our clients meet their environmental and social commitments.”
Examples of potential projects eligible for allocation of proceeds under the Sustainable Financing Framework include:
Development and rollout of food waste measurement technologies
Purchases from local and diverse suppliers
Purchases of certified Sustainable, Fairtrade or Organic goods
Expenditure on healthy eating initiatives such as training & development for culinary teams to support creation of plant-forward meals
Development and rollout of CO2e measurement technologies and labelling systems
Improving the energy efficiency of its premises and investments in renewable energy
Electrification of the Group’s leased vehicle fleet
Food and agriculture innovation and regenerative agriculture
The Sustainable Financing Framework is aligned with the relevant principles published by the International Capital Markets Association, and a Second Party Opinion has been obtained from The Carbon Trust.
To read more about the Group’s Sustainable Financing Framework and Second Party Opinion, please go to: Sustainability | Compass Group.