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Materiality

Corporate responsibility topics are considered material for us if they influence the judgment and decisions of our external and internal stakeholders, as well as having an impact on them and our business. In FY2019, we conducted a robust assessment with internal and external stakeholders to understand where to focus as our company evolves and identified and prioritized our material corporate responsibility topics through a four-step assessment process.

Step 1: Identify Issues – We reviewed the material corporate responsibility topics reported publicly by our peers and assessed issues that are trending in the media and with Campbell’s investors, customers, suppliers and NGO partners. From this research, we added a few new topics to our list, including Risk and Crisis Management, Product Innovation, Supply Chain Resilience and Commodity Availability, Pesticides and Chemical Contaminants, Women’s Empowerment and Responsible Use of Technology.

Step 2: Survey Stakeholders – We surveyed internal and external stakeholders, including employees, suppliers, retail customers, NGOs, trade associations, etc. We also posted the survey on Twitter for consumer feedback, which we received. The survey asked stakeholders to rate the importance of 25 topics in four broad categories: Responsible Business Practices, Societal Impact and Labor Practices, Product Responsibility and Environmental Responsibility. Stakeholders were also asked, of the 17 United Nations Sustainable Development Goals, where Campbell could have the most impact. The responses reaffirmed our previous alignment with Goals 2, 3, 8, 10, 12 and 13. We received nearly 1,500 responses in total with employees accounting for 88 percent of responses.

Step 3: Survey Leadership – We surveyed Campbell leadership to understand how the 25 topics might impact the business over the next five years. Leaders from across the business were asked to rate our ability to control potential impacts, the likelihood of such impacts and how these might impact our reputation, strategic plan, purpose and/or values.

Step 4: Validate – The results of the assessment were shared with leaders across the business who provide feedback on the topics. These results were validated against the results of the research along with the feedback of our Campbell leaders. The results are shared below and are reevaluated throughout the year, as topics can shift in priority. We did see significant shifts in the rating of select topics compared to our last assessment in FY2016, including the ranking of Transparency along with Health, Nutrition and Wellness, among others.

Campbell's Soup Company Materiality Matrix

Definition of Material Issues

Economic

  • Food Safety and Quality: Setting and maintaining high standards for food safety and quality, including programs, policies and procedures that ensure safety of materials, manufacturing environment and processes, and finished products.
  • Transparency: Communicating openly with stakeholders on material issues and being clear with customers and consumers about what is in our food and where it comes from.
  • Responsible Labeling and Marketing: Providing consumers with information through labeling or other communications and adhering to internal and industry guidelines regarding consumer communications.
  • Responsible Sourcing and Traceability: Creating visibility into the supply chains of ingredients and other inputs, from farm to fork, to manage business risks and address issues including human rights, workplace safety and deforestation.
  • Product Innovation: Driving innovative product development to meet changing consumer needs.
  • Supply Chain Resilience and Commodity Availability: Building a supply chain that is resilient to the impacts of climate change, including extreme weather, floods, and droughts; and ensuring a secure supply of ingredients by diversifying sourcing regions, ensuring backup supply options, and enabling sustainable agricultural management.
  • Risk and Crisis Management: The ability to broadly perceive and assess risks across the enterprise that may impact the company and its stakeholders in order to anticipate, minimize and manage business disruptions that can impact our operations, supply chain and reputation.

Environmental

  • Packaging Footprint: Reducing the environmental impact of our packaging, including improved sourcing, recyclability, infrastructure and consumer education.
  • Pesticides and Chemical Contaminants: Managing the levels of chemical contaminants in the agricultural supply chain through proper sourcing and testing, to reduce chemicals of concern like pesticides and lead, in finished products.
  • Water Stewardship: Managing water resources strategically throughout the value chain to ensure both water quantity and quality.
  • Waste Reduction: Ensuring as little waste as possible goes to landfill.
  • Food Waste: Addressing food waste and loss from farm to table.
  • Energy and Climate Change: Managing energy usage and costs throughout the value chain, including agriculture, production, transportation and distribution while reducing GHG emissions to mitigate the effects of climate change.
  • Sustainable Agriculture: Addressing issues related to farming, such as soil health, pesticide use, deforestation, biodiversity and water use on farms.
  • Animal Welfare: Ensuring the ethical treatment of animals in our value chain.

Social

  • Business Ethics: Upholding ethical principles in the business and workplace, including consumer privacy, fraud, bribery, corruption and corporate governance.
  • Occupational Health and Safety: Ensuring a safe and healthy workplace.
  • Culture and Human Capital Management: Ensuring employees have an inclusive and supportive workplace environment that includes a variety of benefits such as health care programs, paid time off and work-life balance, professional development, training and education.
  • Human Rights: Providing a workplace that respects the basic human rights and freedoms of all employees, while also combatting child labor, forced labor, discrimination and other human rights risks in the supply chain.
  • Women Empowerment: Proving opportunities for the development and advancement of women in the workplace and along the supply chain, including mentorship programs, elimination of gender-based pay disparities and increasing supplier diversity spend in women-owned businesses.
  • Diversity and Inclusion: Enabling a business environment that values different perspectives and includes these differences in business processes.
  • Community Involvement: Improving the communities in which we live and work through philanthropic efforts, including donations, volunteerism and other community programming.
  • Health, Nutrition and Wellness: Improving the health profile of our products and engaging in public discussions on healthy and nutritious lifestyles.
  • Food Access: Ensuring wholesome, nutritional food is available to as many people as possible in an affordable manner.
  • Responsible Use of Technology: Ensuring that the use of new technologies, like biotechnology and nanotechnology, provides clear environmental and/or social benefits.

Issues of importance to certain stakeholder groups monitored & addressed as necessary

Economic:

Environmental:

Social:

Issues actively managed & addressed in the report but as part of one of the 9 key material issues

Economic:

Environmental:

Social:

Key Material Issues addressed through business strategies & in the report

Economic:

Social: