
Vitasoy International Holdings LTD is a leading plant-based food and beverage producer headquartered in Hong Kong, China. Established in 1940, Vitasoy has grown to become one of Asia Pacific's largest plant-based food and beverage producers. With manufacturing facilities in several countries, Vitasoy exports products to more than 40 markets worldwide, creating value for the communities in which it operates.
Vitasoy's commitment to sustainability has been recognised by Corporate Knights Magazine, which ranked it 27th among the world's 100 most sustainable (publicly listed) companies in 2023. This achievement also makes it the third most sustainable (publicly listed) company in Asia, according to the Corporate Knights report. Vitasoy's sustainability efforts have gained recognition from external parties and included inclusion in the Dow Jones Sustainability Asia/Pacific Index for two consecutive years. It has also been rated "A" by MSCI ESG Research for its performance on ESG issues.
The Importance of Sustainability in the Food and Beverage Industry
Sustainability is becoming an increasingly important consideration in the food and beverage industry, as consumers become more conscious of the impact their purchasing decisions have on the environment. In addition, climate change and resource depletion are putting pressure on companies to adopt sustainable practises to ensure long-term viability. The food and beverage industry is particularly vulnerable to these issues, as it relies heavily on natural resources, including water and land. Companies like Vitasoy International Holdings Ltd. need to recognise the importance of sustainability and take action to reduce their environmental impact, while also contributing to the communities in which they operate. By embracing sustainable practises, companies in the food and beverage industry can not only reduce their environmental impact but also enhance their reputation and appeal to consumers who value sustainability.
Vitasoy's Two-Pillar Approach to Sustainability and Long-Term Targets for Sustainability
To achieve its impressive sustainability ranking, Vitasoy has focused on two pillars: making the right products and making products the right way.
Pillar 1: "Making the Right Products" is based on two main categories:
Portfolio:
The portfolio category is all about the products themselves. Their goal is to offer more plant-based products, meet the Vitasoy Nutrition Criteria, and make sure their products have low saturated fat and moderate to no sugar. They also want to put information about what's in their products on the front of every package. By expanding their product offerings, Vitasoy is providing healthier options to their consumers and promoting a healthier lifestyle.
Packaging:
The packaging category aims to improve sustainability by focusing on three key areas. Firstly, increasing the use of carton packs with the FSC label ensures that the packaging material comes from responsibly managed forests. Secondly, increasing the recycling rate of glass bottles reduces the amount of waste that ends up in landfills and promotes the reuse of valuable resources. Lastly, increasing the use of recycled PET reduces the demand for new plastic production and helps mitigate the negative impact of plastic waste on the environment.
Pilar 2: "Making Products the Right Way"—has four main categories: manufacturing, suppliers, workplace, and community.
Manufacturing:
In the manufacturing category, Vitasoy has set targets to reduce the water and energy used to manufacture each unit of product, lower carbon emissions throughout its operations and value chain, maintain a high Okara recycling rate, and minimise manufacturing waste sent to landfills.
Suppliers:
Vitasoy's structure for sustainability divides its suppliers into three main areas, each of which has a different focus.
a) Vitasoy has set up a supplier ESG (environmental, social, and governance) Performance Rating System to measure and track its suppliers' efforts towards sustainability.
b) Vitasoy checks the security of its supply chain on a regular basis so that it can predict threats and plan how to deal with them. To ensure that the raw materials used in its products are produced in an environmentally and socially responsible manner
c) Vitasoy has created sustainable farming guidelines to promote sustainable agriculture practises among its suppliers.
Workplace:
Vitasoy's workplace category under its sustainability framework focuses on two key areas. The first area is health and safety, where Vitasoy places a strong emphasis on ensuring the health and safety of its employees. The company uses a key metric of a zero lost-time injury rate to track and measure its performance in this area. The second area is an inclusive workplace, where Vitasoy is committed to creating a diverse and inclusive work environment. The company tracks the gender ratio across the company and in management as a key metric to measure its progress in this area.
Community:
Vitasoy's sustainability framework also has a section on the community that focuses on the three key programmes.
a) The Nutrition and Health Improvement Program
b) The Vitasoy Beverage Carton Clean Recycling Education Program; and
c) The Vitasoy Nutrition Exploration Journey
These are all initiatives aimed at promoting sustainable practices and healthy lifestyles in the wider community. Through these programmes, Vitasoy wants to connect with and help the communities where it does business. It also wants to promote sustainable living and lessen its impact on the environment.
Long Term Sustainability Goals
Vitasoy's long-term goals and nutrition standards, which now include both plant-based foods and drinks, are part of these pillars. The company has set ambitious new 2025/26 targets, including:
90% of products complying with the new Vitasoy Nutrition Criteria
100% of products with front-of-pack labels outlining nutritional information
No manufacturing waste ends up in landfills.
A zero lost-time injury rate
achieving carbon neutrality by 2050.
reducing water consumption in its manufacturing processes by 30% by 2025.
Increasing the use of renewable energy in its operations.
achieving zero waste to landfills by 2025.
These new goals and projects help guide and unite the company in the same direction, reinforcing its commitment to making the right products in the right way. Vitasoy has also improved its "Nourish Your Body, Nourish Your Mind programme, which is part of its framework for giving back to the community. This includes expanding community engagement in Mainland China and launching a multi-year school nutrition and education programme in collaboration with local governments, non-governmental organisations, and schools. The initiative aims to bring nutrition to more students and enhance prosperity in rural areas.
Initiative and innovation
Vitasoy's Sustainability Journey Vitasoy's sustainability journey began in the 1970s, when the company first started using Tetra Pak packaging. This packaging was much more environmentally friendly than other packaging options at the time, and it helped Vitasoy reduce its environmental impact significantly. Since then, Vitasoy has kept coming up with new ideas and investing in environmentally friendly methods, which has made it a leader in the plant-based food and drink industry. The company's commitment to sustainability is reflected in its products and operations, which use natural ingredients, reduce waste, and minimise environmental impact. The company has also implemented a range of sustainability initiatives, including:
reducing energy and water usage in its manufacturing processes.
Minimizing waste by reusing and recycling materials
Implementing sustainable sourcing practises for raw materials
Partnering with local communities and organisations to support sustainable agriculture and fisheries
Vitasoy has also set up an ESG (Environmental, Social, and Governance) Committee to keep an eye on its efforts to be more environmentally friendly. This committee makes sure that the company's operations are in line with its sustainability goals and keeps track of how well it is doing.
How Vitasoy Stands Out Among the Most Sustainable Companies
Vitasoy has made significant progress in sustainability and stands out as a leader in its industry. It is the only company in its sector in Asia to make Corporate Knight Magazine's top 100 most sustainable companies list. This recognition is based on several factors, including Vitasoy's commitment to reducing its environmental impact through sustainable practises, promoting a healthy and inclusive workplace, and engaging with the wider community to promote sustainable living. In addition, Vitasoy has set ambitious long-term sustainability targets, such as reducing carbon emissions by 45% by 2030 and achieving zero waste to landfill by 2025. The company has also implemented innovative initiatives, such as setting up clean carton recycling points and investing in retrofitting its energy-efficient lighting systems, intelligent refrigeration control systems, heat recovery systems, and equipment optimization. Vitasoy's sustainability efforts have earned it numerous awards and accolades, including the Caring Company Logo from the Hong Kong Council of Social Service and the Green Office Label from the World Green Organization.
In conclusion, Vitasoy Limited has become a leader in sustainability in the Asian market. Its commitment to sustainable practises, an inclusive workplace, and community engagement has helped the company rise in the ranks from No. 45 in 2002 to No. 27 in 2023 on Corporate Knight Magazine's list of the top 100 most sustainable companies. Vitasoy has set ambitious long-term sustainability targets, implemented innovative initiatives, and earned numerous awards and accolades for its sustainability efforts. As consumers and other stakeholders increasingly demand sustainability from companies, Vitasoy's dedication to sustainability not only aligns with their values but also helps to drive sustainable growth and create long-term value for all stakeholders. Vitasoy's journey towards sustainability serves as a model for other companies in the region, demonstrating that a commitment to sustainability can create positive impact and drive success in the long run. You can read its detailed and outstanding sustainability report here.
Will Vitasoy's sustainability rating influence your buying decision going forward? "Comment, subscribe, and stay tuned for the latest updates—it's the best way to stay in the know!"
Disclaimer: The Vitasoy logo and images used on this blog are the property of Vitasoy International Holdings Limited. Their use on this blog is solely for informational and editorial purposes, and does not imply any endorsement or sponsorship of the blog or its content by Vitasoy.
Commentaires