Starbucks Corp. Chief Executive Kevin Johnson said Tuesday that the coffee purveyor will add plant-based menu options as part of an expanded sustainability commitment. “Our aspiration is to become resource positive – storing more carbon than we emit, eliminating waste, and providing more clean freshwater than we use,” Johnson wrote in a message posted on the Starbucks site. The new food items are an effort to create a more environmentally-friendly menu. The company will also shift to reusable packaging, invest in innovative agricultural practices and forest conservation efforts, better manage waste and create more eco-friendly stores. Preliminary targets for 2030 are to cut carbon emissions by half in both the company’s operations and supply chain; halve water usage for operations and coffee production; and halve the amount of waste sent to landfills. Beyond Meat Inc. shares gained 3% in Tuesday premarket trading. Starbucks stock has rallied 44.7% over the past year while the S&P 500 index has gained 24.7% for the period.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
- Trump is right — many 401(k) plans are benefiting from a recovering stock market — but that doesn’t mean Americans are in good financial shape - October 1, 2020
- Coronavirus update: Global case tally above 34 million with U.S. accounting for a fifth as Dr. Fauci hits back at Trump’s mask claims - October 1, 2020
- Howard Gold’s No-Nonsense Investing: Half of Americans over 55 may retire poor - October 1, 2020