Starbucks Releases 11th Annual Global Responsibility Report at Annual Meeting of Shareholders
Posted on March 21, 2012 at 14:05 PM EDT
At its Annual Meeting of Shareholders, Starbucks Coffee Company (NASDAQ: SBUX) today announced the availability of its 11th annual Global Responsibility Report, outlining fiscal year 2011 performance in its effort to help communities thrive through ethical sourcing, environmental stewardship and community engagement. The interactive report is now available online at www.starbucks.com/GRreport.
In 2011, Starbucks more than tripled the availability of in-store recycling. Photo Credit: Starbucks/Kathryn Barnard
“The release of this year’s report at the Annual Meeting underscores our belief that the value of our company is directly connected to the values of our company,” said Vivek Varma, Starbucks executive vice president of Public Affairs. “We believe it’s critical that companies – including Starbucks – share the values of our customers and partners (employees) and demonstrate our commitment to those values in impactful ways that help our communities and planet thrive.”
The 2011 report shows significant strides on the ambitious goals Starbucks set for itself in 2008. In a single year Starbucks more than doubled its community service – to 442,000 hours served as part of Global Month of Service – and more than tripled the availability of in-store recycling – now in more than 1,000 stores in the U.S. and Canada.
“While our progress is certainly significant thanks to the commitment of our partners and the communities we serve, we recognize there’s room for improvement. These are bold goals and we are focused in our approach,” said Ben Packard, Starbucks vice president of Global Responsibility. “By leveraging our scale for good, we can continue to make progress on major societal issues through innovation, customer engagement and policy leadership.”
In addition, Starbucks exceeded or is on track to meet several of its bold goals in a number of key areas:
“This year’s report reflects our strong connection to the communities we serve,” said Cecilia Carter, Starbucks vice president of Global Diversity Policy and Advocacy. “There has never been a more important time to serve as a catalyst for change in ways that make a positive difference.”
While much progress has been made, the company still faces formidable challenges on the goal set in 2008 on reusable cups. Although Starbucks served more than 34 million beverages (1.89%) in reusable cups in 2011, it is resetting its goal of 25% of beverages made in reusable cups to 5% of beverages served in personal tumblers. Starbucks is focusing on attaining this new goal by 2015.
Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting the highest quality arabica coffee in the world. Today, with stores around the globe, the company is the premier roaster and retailer of specialty coffee in the world. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. To share in the experience, please visit us in our stores or online at starbucks.com.
Please visit starbucks.com/responsibility to view the full Global Responsibility Report.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50212086&lang=en
Nathan Strauss, 206-318-7100
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