Sysco Announces Sustainability Bond Framework to Advance Its 2025 CSR Goals
HOUSTON, Feb. 07, 2020 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE: SYY), the leading global foodservice distribution company, announced today it has designed a (the Framework) under which it may issue Green, Social and/or Sustainability Bonds to advance the company’s 2025 corporate social responsibility (CSR) goals.
Sysco’s CSR strategy focuses on three key areas: people, products and planet, setting a clear path for the future and demonstrating the company’s continued commitment to caring for people, sourcing products responsibly and protecting the planet. The company’s 2025 CSR goals, announced in 2018, include a comprehensive set of objectives, including sourcing 20% of its electricity from renewable sources, powering 20% of its truck fleet with alternative fuels, expanding its sustainable agriculture program to five fresh crops, doubling the availability of Sysco Brand organic produce, and increasing its spend with women- and minority-owned suppliers by 25%.
The Framework provides information about the types of projects that are eligible for financing or refinancing with the use of any potential bond proceeds, how any projects would be evaluated and selected, how any potential proceeds would be managed, and how the company may provide any allocation and impact reporting.
Eligible projects have been defined as those that support Sysco's 2025 CSR goals and relate to renewable energy, energy efficiency, clean transportation, waste reduction, sustainable water and waste management, environmentally sustainable management of living natural resources and land use and food security, aquatic biodiversity conservation and food security, and socioeconomic advancement and empowerment.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, and in no event shall any offer, solicitation or sale be made in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
About Sysco
Sysco is the global leader in selling, marketing and distributing food products to restaurants, healthcare and educational facilities, lodging establishments and other customers who prepare meals away from home. Its family of products also includes equipment and supplies for the foodservice and hospitality industries. With more than 69,000 associates, the company operates more than 320 distribution facilities worldwide and serves more than 650,000 customer locations. For fiscal 2019 that ended June 29, 2019, the company generated sales of more than $60 billion. Information about our CSR program, including Sysco’s 2019 Corporate Social Responsibility Report, can be found at .
Investor contact:
Rachel Lee
281-436-7815
Media contact:
Shannon Mutschler
281-584-4059
