Beyond Meat Unveils 2023 ESG Report
On December 20, 2024, Beyond Meat, Inc. (NASDAQ: BYND) unveiled its 2023 Environmental, Social, and Governance (ESG) Report, which includes insights from a thorough life cycle assessment (LCA) of its popular Beyond Steak product.
This year’s ESG Report delves into several essential aspects, including nutrition and health, workforce development, governance, and initiatives aimed at managing climate impact. Beyond Meat has taken significant steps to increase transparency regarding its climate strategies and overall ESG practices. The report features a corporate inventory of greenhouse gas (GHG) emissions, addressing both direct and indirect sources (Scope 1, 2, and 3). Furthermore, it explores financial risks and opportunities associated with climate change while presenting an updated analysis of ESG-related materiality.
Insights from the Beyond Steak LCA Study
The report also presents noteworthy findings from the LCA focused on Beyond Steak, a product that has gained favor among consumers for its hearty flavor and alignment with the American Heart Association’s Heart-Check Mark guidelines. Conducted according to the standards of the International Organization for Standardization (ISO), the assessment went through a thorough third-party review process.
The results are impressive: Beyond Steak boasts a significantly lower environmental footprint compared to traditional pre-cooked beef steak tips. This product delivers the following environmental benefits:
- Greenhouse Gas Emissions: a remarkable 84% reduction;
- Water Usage: a staggering 93% decrease;
- Land Requirement: an 88% lower necessity for land;
- Non-renewable Energy Consumption: a noteworthy 65% reduction.
Moreover, the LCA also introduced innovative impact metrics that evaluate potential repercussions on natural ecosystems. These metrics account for critical environmental factors such as terrestrial acidification, marine eutrophication, and freshwater eutrophication, all of which can compromise the health of our land, coastal regions, and aquatic environments. Compared to pre-cooked beef steak tips, Beyond Steak exhibits substantial improvements in these areas: it leads with an impressive 94% reduction in terrestrial acidification, 95% less marine eutrophication, and a 77% decrease in freshwater eutrophication.
Commitment to Sustainability
In summary, Beyond Meat’s 2023 ESG Report and the associated LCA for Beyond Steak not only highlight the company’s commitment to sustainability but also showcase the tangible environmental advantages of choosing plant-based alternatives over traditional meat products.
Source: Vegconomist