Starbucks Corp

The Nominating and Corporate Governance Committee is responsible for providing leadership with respect to the corporate governance of Starbucks Corporation. This includes the responsibility to annually review and assess the effectiveness of our environmental and social responsibility policies, goals and programs through the annual global environmental and social impact report and make recommendations as deemed appropriate based on such review and assessment. An example of a climate-related decision made by the Nominating and Corporate Governance Committee in FY21 was the finalization of 2030 environmental goals to cut our carbon, water, and waste footprints by half, working from a FY19 baseline. These commitments were publicly announced in FY20 but were refined over the past year based on market research, trials, and data rebaselining. Our sustainability commitments are governed through our Global Environmental Council, which is comprised of senior leaders across Starbucks whose compensation is tied to performance against our goals, but we also formally review and seek counsel from our Nominating/Governance Committee, along with external sustainability experts. Since that time, Starbucks carbon goal has been validated as science-based from the Science Based Targets Initiative ("SBTi"). The SBTi has confirmed that the scope 1 and scope 2 portions of our 2030 carbon target are aligned with a 1.5°C pathway, the most ambitious level they validate. [...] The Board of Directors has overall responsibility for risk oversight, including, as part of regular board and committee meetings, general oversight of executives' management of risks relevant to the Company. This includes oversight of Environmental, Social and Governance (ESG) risks, including climate-related issues. A fundamental part of risk oversight is not only understanding the material risks a company faces and the steps management is taking to manage those risks, but also understanding what level of risk is appropriate for the company. The involvement of the Board of Directors in reviewing Starbucks business strategy is an integral aspect of the board's oversight of Starbucks risk management practice. Starbucks chief executive officer (ceo) has general charge and supervision of the business and strategic direction of the Company and sits on the Board of Directors. In FY21, as the highest management-level position with responsibility for climate-related issues, the ceo met monthly with the chief sustainability officer (cso) to discuss global sustainability strategies and initiatives across the enterprise. The ceo relays the progress of such efforts and key strategic insight to the Board. Starbucks ceo has tasked the Environmental Council and the Global Sustainability Task Force with actualizing the company's sustainability initiatives, the progress of which is overseen by the cso. The ceo meets with the cso monthly to discuss global sustainability strategies and updates on ESG issues across the organization. The ceo is updated on climate-related issues, including risk management components, in every one of these regular meetings. The Environmental Council and Global Sustainability Task Force, which are tasked with the developing and realizing sustainability initiatives by the ceo, also create content for regular updates to leadership. The ceo then shares these progress updates with the Board. In FY21, the ceo affirmed Starbucks long-term ESG strategy, including finalized target reductions of carbon (SBTI certified), water, and waste by 2030, a revised inventory baseline, and an expansion of our water goals.

Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]Starbucks has reaffirmed its commitment to the Paris Climate Agreement by joining the 'We Are Still In' campaign and by joining the Science Based Targets initiative with an ambitious 1.5 °C company-wide GHG emission reduction target. Starbucks is committed to being actively involved in the communities we serve. This commitment extends to our approach to public policy. We believe we have a responsibility to advocate policies that support the health of our business, our partners (employees) and communities we are part of. Starbucks Government Affairs team has increasingly emphasized the development, analysis, and management of climate-related public policy initiatives and activities, which are critical for informing direction for the Company's public policy and government relations objectives, stakeholder engagement, and policy interests. In an effort to better communicate these activities, Starbucks adopted a policy to provide more transparency about our corporate political contributions and expenditures. We believe this policy will serve Starbucks interests in promoting public policies of concern to the company and educating elected and public officials about our business, while providing important information to our partners, customers, and shareholders. Starbucks is committed to conducting business ethically, with integrity, and in accordance with the law. Part of that commitment includes compliance with rules, regulations, and standards governing our interaction with the government, including our disclosure and accountability regarding political contributions and expenditures.

Does your organization have a public commitment or position statement to conduct your engagement activities in line with the goals of the Paris Agreement?[…]Yes

Describe the process(es) your organization has in place to ensure that your external engagement activities are consistent with your climate commitments and/or climate transition plan?[…]Starbucks has reaffirmed its commitment to the Paris Climate Agreement by joining the 'We Are Still In' campaign and by joining the Science Based Targets initiative with an ambitious 1.5 °C company-wide GHG emission reduction target. Starbucks is committed to being actively involved in the communities we serve. This commitment extends to our approach to public policy. We believe we have a responsibility to advocate policies that support the health of our business, our partners (employees) and communities we are part of. Starbucks Government Affairs team has increasingly emphasized the development, analysis, and management of climate-related public policy initiatives and activities, which are critical for informing direction for the Company's public policy and government relations objectives, stakeholder engagement, and policy interests. In an effort to better communicate these activities, Starbucks adopted a policy to provide more transparency about our corporate political contributions and expenditures. We believe this policy will serve Starbucks interests in promoting public policies of concern to the company and educating elected and public officials about our business, while providing important information to our partners, customers, and shareholders. Starbucks is committed to conducting business ethically, with integrity, and in accordance with the law. Part of that commitment includes compliance with rules, regulations, and standards governing our interaction with the government, including our disclosure and accountability regarding political contributions and expenditures.