Month: July 2025

A letter from Dirk Van de Put
Chair & Chief Executive Officer, Mondelēz International

A flaky croissant to accompany your morning coffee. A crispy biscuit for a mid-day break. A delicious bite of chocolate to wind down your evening. All over the world, snacking remains an important part of people’s lives – a dependable constant in an everchanging world. At Mondelēz International, we’re honored that consumers welcome our iconic chocolate, biscuit, and baked snack brands into their homes – and we are playing our part in our aim to have a positive impact on people and our planet.

Like many other companies, we’re closely tracking and planning around a dynamic operating environment. Against a backdrop of continued market and geopolitical uncertainty, stubborn inflation, and record input costs for key ingredients like cocoa, our Values and Purpose continue to guide us. Our more than 90,000 colleagues around the world remain committed to empowering people to snack right – by providing the right snack, for the right moment, made the right way.⁽¹⁾ 

Accordingly, we continue to prioritize Sustainability as the fourth pillar in our long-term Strategy – alongside Growth, Execution and Culture. We continue to believe that helping to drive positive change at scale across the communities our business touches is an integral part of value creation. Simply put, we believe that more sustainable business is, and always will be, good business.

At the same time, we recognize that analysts, policy makers, and other stakeholders around the world are evolving their expectations, standards, and guidelines for sustainability reporting. As we navigate a broad range of perspectives, we continue to share our progress through this annual Snacking Made Right Report. I’m pleased to share that we are making meaningful progress toward our goals, and I encourage you to learn more in the following pages, including reviewing our full-year 2024 sustainability data.

I’m proud of our team for staying focused and agile in challenging times. The progress detailed in this report would not be possible without our dedicated and passionate people; our strong partnerships with suppliers, customers, and non-governmental organizations (NGOs); and our multiple collaborations with industry coalitions, including the Consumer Goods Forum (CGF) and the World Cocoa Foundation (WCF).

As we progress in 2025, we remain focused on executing with excellence against our long-term growth strategy, including continuing to invest in our focused approach to creating a more sustainable business at scale.

Our team is at its best when we are united and clear about what we need to do. With the right strategy, the right brands, the right geographic footprint, and the right people – I’m confident that we remain solidly positioned for long-term, sustainable growth.

A letter from Christine Montenegro McGrath
Chief Impact & Sustainability Officer, Mondelēz International

Since our inception as a Company, we have set measurable goals for advancing more sustainable business practices, focused on where we believe we can have the biggest impact at scale. We have clear roadmaps and strong execution plans – and we remain confident in our ability to make progress against the goals we set.

While numerous stakeholders express changing points of view about the best way to define and evaluate sustainability programs and goals, I’m proud of the consistency of our approach. And I’m proud of the strong progress we continue to achieve against our sustainability goals in 2024, as a result. A few highlights:

• Despite immense challenges facing the cocoa sector, in 2024 we continued to advance our leadership in more sustainable sourcing of critical ingredients. 
  – Today about 91% of the cocoa volume used in our chocolate brands is sourced through Cocoa Life (through a mass balance approach), our signature cocoa sourcing program, which aims to help lift up the people and restore landscapes where cocoa grows.⁽²⁾
   
• We made continued progress in helping to combat climate change. 
  – Our end-to-end footprint GHG emissions reduced across our value chain by approximately (12)% compared to our 2018 baseline or approximately (9)% compared to emissions in the prior year.⁽³⁾
   
• We continued advancing our packaging strategy aiming for a more circular economy for packaging. 
  – Approximately 96% of our packaging is designed to be recyclable.⁽⁴⁾ 
  – We are pursuing more sustainable sourcing of flexible packaging, while better understanding the challenges facing enhanced sustainable sourcing of rigid plastic materials.
   
• And we continue to invest in ways to empower consumers to make more mindful snacking choices that fit into their healthy, active lifestyles.
  – Approximately 84% of our snacks revenue now comes from Mindful Portion Snacks – that is, snacks that are packaged in individually wrapped mindful portion serving sizes, or with clear mindful portion recommendations on pack.⁽⁵⁾

We believe that driving against these and other sustainability goals – detailed in the coming pages – is a supporting driver to enabling our long-term growth, accelerating our leadership position in snacking, and advancing a business that will remain resilient for many years to come. At the heart of our efforts lies the winning growth culture we continue to create in support of our people. Ever humble, but determined, we remain focused on making an impact where we think people and our planet need it most, and I am encouraged by the results of this focus resulting in the 2024 progress made against our goals.

The world is changing rapidly, demanding that we change with it. We continue to adapt while remaining focused on investing in our growth strategy – regularly re-examining our plans and roadmaps in light of a challenging, dynamic environment. Now is the time to stay focused, keep going, and act in line with our Purpose, Mission and Values:

• Love our consumers and our brands.
• Do what’s right.
• Grow every day.

Focusing on collaboration across all stakeholders remains at the heart of our sustainability strategy. I’m grateful to work alongside talented, dedicated teams at Mondelēz International, as well as passionate partners in the supplier, customer and NGO communities. I’m proud of the opportunity to learn from each other, challenge ourselves, and co-create impactful solutions. Together, I’m confident that we will continue to deliver sustainable business growth and long-term value for our many stakeholders.

View the full 2024 Snacking Made Right Report. 

^{(1) 2024 reported information as of December 31, 2024.}

^{(2) Goal and reported information for cocoa volume sourced is based on a mass balance approach, which means that the equivalent volume of cocoa needed for the products sold under our chocolate brands is sourced from the Cocoa Life program. Reported information for the period from January 1, 2024 to December 31, 2024 includes volumes from cocoa producing countries Brazil, Côte d’Ivoire, Ecuador, Ghana, Indonesia, India, and Nigeria unless otherwise stated (which differs from prior years). Excludes markets where Mondelēz International does not sell chocolate brands. Excludes organic certified consumer offers for Green & Black’s. Reported information is verified by an independent third-party and available in our ESG Reporting & Disclosure Reporting Archive.} 

^{(3) In the reporting year 2024, our annual GHG emissions were accounted following the GHG Protocol Corporate Standards and using the operational control approach. Reported information following Science Based Targets initiative (SBTi) guidelines for near-term target excludes Capital Goods, Upstream Transportation and Distribution of Raw Materials, Employee Commuting, Downstream Transportation at Customer, and End of Life Treatment.The long-term target excludes these same categories, except for Upstream Transportation and Distribution of Raw Materials and Employee Commuting. We have recalculated our base year 2018 and most recent years (2023 and 2024) inventory following the GHG Protocol Corporate Standards. Recent updates incorporate acquisitions Chipita and Ricolino. The footprint includes all acquisitions and divestitures to date except for Evirth. For more details, please see the Carbon Accounting Manual. Reported information is verified by an independent third-party and available in our ESG Reporting & Disclosure Reporting Archive. In the context of the Science Based Targets initiative (SBTi), an “absolute target” refers to a reduction in total greenhouse gas (GHG) emissions by a specific percentage or amount, measured against a baseline year, rather than a reduction per unit of production or activity.}

^{(4) 2024 reported information covers the period from December 1, 2023 through November 30, 2024. Our annual reporting cycle for this metric differs from previous years as we migrate to calendar year reporting. Reported information utilizes forward looking volume estimates. Reported information is verified by an independent third-party and available in our ESG Reporting & Disclosure Reporting Archive.}

^{(5) Reported information from January 1, 2024 to December 31, 2024 measures the percentage of net revenue that comes from products that are either individually wrapped mindful portion units (≤200 calories) or have a mindful portion label/information per stock keeping unit, and includes any products with verified product specifications within biscuits and baked snacks, chocolate, and candy categories, and does not include Halls products, semi-final products not sold to consumers, bulk products for wholesale, beverages, meals, gums, gifting, seasonal or festive products, licensing/royalty revenue, private label products and products with small printable areas.}

Tapestry’s purpose is clear: to stretch what’s possible in fashion while staying true to our heritage of craftsmanship, quality, and innovation. Today, Tapestry is proud to share a bold step forward in that journey—an expanded partnership with Gen Phoenix, a pioneer in sustainable recycled leather fiber materials.

With a new three-year supply agreement and an increased equity stake in Gen Phoenix to 9.9%, Tapestry has nearly quadrupled its initial investment from 2023. This investment is part of Gen Phoenix’s $15 million Series round, led by Material Impact, and it reflects our belief in the power of innovation to drive both purpose and profit.

Tapestry’s relationship with Gen Phoenix began in 2022, and it’s grown into a model for how brands and material innovators can co-create sustainable solutions. Together, the companies have developed next-generation materials that honor the legacy of leather—so central to our brands Coach, Kate Spade, and Stuart Weitzman—while transforming it through circular processes.

This isn’t just about sourcing materials. It’s about building a resilient, future-ready supply chain that aligns with the values of today’s consumers. Gen Phoenix’s platform enables circularity at scale, delivering high-quality materials that meet our expectations for style, performance, and impact.

“As a global leader in quality leather goods, we see significant opportunity to be a catalyst for next-generation materials,” said Scott Roe, Tapestry’s Chief Financial Officer and Chief Operating Officer. “This partnership reinforces our commitment to leading the fashion industry in sustainable innovation.”

Tapestry’s expanded investment helps Gen Phoenix accelerate its mission in meaningful ways:

• Scaling production at its U.K. facility, with capacity for over 60 million square feet annually
• Expanding into new categories and global markets
• Advancing R&D to commercialize a fully circular leather solution using post-consumer and end-of-life waste

“This expanded partnership marks a major milestone—not just for Gen Phoenix, but for the future of sustainable materials,” said John Kennedy, CEO of Gen Phoenix. “Together with Tapestry, we’re proving that circular innovation can meet the demands of global brands without compromise. It’s a powerful example of what happens when you combine material innovation, leather heritage, shared values, and a commitment to scale.”

For Tapestry, this means greater supply chain resilience, continued product excellence, and deeper alignment with the values of the next generation of consumers.

Tapestry is excited about what’s ahead and looks forward to continuing this journey with Gen Phoenix to redefine what sustainable luxury can be.

For the seventh consecutive year, world-class equipment, technology and services company, CNH, was considered a great company to work for in Brazil and Argentina, according to Great Place To Work (GPTW).

The achievement reflects the experience of employees in the region, evaluated in a detailed assessment that analyzed aspects such as management, sense of belonging, remuneration, benefits and career opportunities.

For the president of CNH for Latin America, Rafael Miotto, winning the seal for another consecutive year demonstrates the hard work and engagement of the company. “More than achieving – but maintaining this recognition for so many years reflects our commitment to the people who are responsible for promoting innovation and development of our business. Regardless of changes or challenges that arise in our market, we remain committed to promoting a safe environment that values people, so that they can deliver increasingly better results,” he highlighted.