Governance
Corporate- and executive-level oversight lead our core team to drive our efforts and progress.
Our Reporting Structure
Our CEO reviews our sustainability performance on an quarterly basis at a minimum. We establish and routinely evaluate goals and targets under each pillar to drive ongoing progress to create value for our stakeholders, employees and the company as a whole.
Our sustainability strategy relies on:
ENTERPRISE RISK MANAGEMENT (ERM)
Smithfield’s ERM framework helps to identify complex and emerging risks, ensure mitigation processes and controls are in place and provide timely and effective reporting.
Ten priority risk areas are:
- Commodity Prices
- Food Safety
- Animal Welfare/Biosecurity/Epidemic
- International Markets
- Litigation
- Government Regulations and Policies, Planning and Strategy
- Customer Relations
- Competitor Activity
- Environmental
ETHICS AND INTEGRITY
Our Code of Business Conduct and Ethics, which is applicable to all employees and corporate officers, describes policies and practices for conducting business in accordance with applicable laws and the highest ethical standards.
PUBLIC POLICY
We participate in legislative and regulatory processes both as an individual company and through industry associations. Smithfield Foods has participated in many cross-industry boards and commissions at the national and state levels.
The following are among the most significant public policy issues for our company and industry:
- Trade Policy
- Support for Agriculture and Rural America
- Animal Disease Preparedness and Response
- Renewable Energy and Sustainability
- Tax Policy
- Immigration and Labor
- Grain Inspection, Packers and Stockyards Administration (GIPSA) Rules
- Pharmaceutical Supply Chain
- State Ballot Initiatives
- Food insecurity and availability of affordable protein products