Meiji Holdings – How’s your summer time sweet treat impacting our society?

Rationale

Food is an indispensable element of human lives, closely linked to people’s welfare and development. Yet, statistics have shown that up to 1/3 of food is wasted every year, and still millions of people are in poverty and without adequate access to food.

Meiji is a crucial global player in processed food and pharmaceuticals; therefore, I think its sustainability engagement is influential in creating positive social impact.

Impact investments/projects

Meiji establishes a rather comprehensive sustainability framework to deliver a positive impact on food production, corporate operation, and supply chain management. Its framework covers up to 13 SDGs, which is complemented by a detailed impact reporting structure.

In 2021, it issued a sustainability bond worth £55m to drive positive impact in its production and industry supply chain by investing in new technology, R&D, environmental restoration, and support for vulnerable communities.

Challenges & next steps

Despite having established a comprehensive framework and evaluation structure, Meiji faces challenges in the implementation of its impact ambitions. Its marketing, production, sales, and partnership demonstrate unsatisfactory impact results. For instance, its marketing campaigns motivate consumers to purchase more of its products – for the obvious profitability reason – yet they potentially lead to edible food waste as people simply could not consume the amount they buy.

On the other hand, Meiji has demonstrated efforts to combat food waste by donating supplies to food banks. This vividly shows the conundrum of corporations as they thrive for both profits and impact. Yet innovative approaches, such as creating a stronger bond with their consumers and actively influencing them to purchase a more diverse basket of products in suitable quantities, may be a solution to reconcile impact and revenue.

As a multinational company, Meiji’s size and long history mean that positive impact and profitability may not be practically compatible in the short run. It however shows aspirations to renovate all stages of its operations to generate positive impact in the wider society.

Author: Zoey Chen

References:

Meiji Holdings website Sustainability section

Meiji Holdings | Impaakt