Water is one of the critical factors of ESG (Environment, Social, and Governance). Fresh and clean water is increasingly endangered despite being considered a plentiful renewable resource mainly due to population growth and economic activity leading to an increase in water demands and pollution.
According to United Nations, if current consumption and production patterns do not change, there will be a 40% shortfall in water supply by 2030. Companies are expected to face increased scrutiny such as limits on water withdrawal and tight regulations over their water use as global water resources face increased stress.
Nestle, Mondelez, General Mills, Hershey, and Danone were the top food companies by market capitalization with significant water withdrawal in 2021.
Nestle SA (Nestle) is a manufacturer and marketer of food products and beverages with a market capitalization of $298 billion as of September 2022. In 2021, Nestle withdrew 98 million cubic meters of water, a decrease of 15% over 2020.
Mondelez International Inc (Mondelez) is a US-based manufacturer that markets food products and beverages. The company has a market capitalization of $75 billion as of September 2022. In 2021, Mondelez withdrew 10.28 million cubic meters of water, a decrease of around 0.5% over 2020.
General Mills Inc (General Mills) manufactures and markets consumer-based food products. The company had a market capitalization of $46 billion as of September 2022. In 2021, General Mills consumed 13.6 million cubic meters of water, a decrease of 5% over 2020.
The Hershey Co (Hershey) manufactures and distributes chocolate and non-chocolate confectionery with a market capitalization of $45 billion as of September 2022. In 2021, Hershey withdrew 4.85 million cubic meters of water, a decrease of 10.4% annually.
Danone SA (Danone) is a Spain-based manufacturer and producer of dairy and nutritional products. In 2021, Danone withdrew 67.7 million cubic meters of water. Danone has set a target to reduce, reuse, recycle, and reclaim 100% of water withdrawn by 2030.
The list of top food companies is based on market capitalization as of September 2022 and the availability of sustainability reports.
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