Kellogg Company has announced in its 2022 Sustainability Bond Impact Report that it has fully allocated the net proceeds from its inaugural sustainability bond issued in May 2021, which totaled €300 million before offering expenses and underwriting discounts and commissions.
The proceeds allocated to Kellogg’s eligible global sustainability projects support significant progress already made against the company’s Better Days Promise to address the intersection of wellbeing, hunger, sustainability and equity, diversity and inclusion, creating Better Days for 3 billion people and the planet by the end of 2030. In fact, Kellogg is nearly halfway to its goal ahead of schedule, having created Better Days for more than 1.3 billion people by the end of 2021.
“Our founder, W.K. Kellogg, believed that part of running a good business was doing good for society,” said Steve Cahillane, Kellogg’s Chairman and Chief Executive Officer. “He was an early conservationist, a leading philanthropist and an original wellbeing visionary. With this legacy, we’ve inherited his commitment, and by purposefully integrating our ESG strategy – our Kellogg’s Better Days Promise – into all aspects of our business, we drive meaningful social impact and business results.”
Kellogg recently launched its 2021 ESG report, detailing its Better Days Promise strategy progress to date. Since 2015, together with its partners, the company has nourished 800 million people with its foods, fed 219 million people facing hunger or crisis, and supported more than 445,000 farmers and workers, many of them women and smallholders. Also, Kellogg employees have volunteered 106,000 hours to addressing food security around the world. “At Kellogg, we envision a day where people are fed and fulfilled, where our planet thrives, and where there is a place at the table for everyone,” said Cahillane.
Additionally, for the fifth year, Kellogg has been named to the prestigious Dow Jones Sustainability World and North American indices (DJSI World/DJSI North America). DJSI recognizes companies for their commitments to high environmental, social and governance (ESG) standards that result in best-in-class performance and drive long-term shareowner value. Kellogg ranked in the 93rd percentile, moving up from the 90th percentile in 2021. This makes Kellogg within the top 7% of 213 companies that were assessed this year.
Kellogg’s sustainability bond was issued in line with Kellogg’s Sustainability Bond Framework, which facilitates the company’s use of sustainable capital markets to finance or refinance eligible projects that align with its commitments. Kellogg’s Sustainability Bond Framework has been reviewed by Sustainalytics, a second-party opinion provider and is aligned with the Sustainability Bond Guidelines 2018, Green Bond Principles 2018 and the Social Bond Principles 2020.