Conagra Brands, Inc. (CAG) — ESG & Values Scores

Environment story

Conagra's environmental score reflects significant disclosure gaps and greenwashing concerns. The 10-K contains no quantified Scope 1, 2, or 3 emissions data, no renewable electricity percentage, and no net-zero target year. The company acknowledges climate risks (agricultural productivity, water availability, regulatory exposure) but provides no verified decarbonization infrastructure investments or emissions reduction pathways. Extended Producer Responsibility (EPR) regulatory compliance is mentioned as a cost driver, not a proactive initiative. The absence of operational emissions targets and heavy reliance on unmeasured compliance strategies suggests climate commitments are reactive rather than strategic. Capped at 55 per Checklist A (supply-chain Scope 3 dominance in food manufacturing undisclosed; no operational cuts verified).

Criticisms on file

No disclosed Scope 1, 2, or 3 emissions data; no net-zero target year; no renewable energy percentage disclosed
Source: CAG 10-K, Risk Factors section; absence of environmental metrics across filing
Climate change regulatory exposure: company acknowledges mandatory disclosure obligations, carbon pricing regulations, and fuel emissions regulation risk without stating quantified reduction strategy
Source: CAG 10-K, Item 1A Risk Factors, 'Climate change, or legal, regulatory, or market measures to address climate change, may negatively affect our business and operations'
Water scarcity and agricultural productivity risk from climate change acknowledged; no mitigation strategy disclosed
Source: CAG 10-K, Item 1A Risk Factors, same section

Disclosed initiatives

Extended Producer Responsibility (EPR) Compliance

Company acknowledges EPR laws in US and Canada requiring manufacturers to fund recycling and waste-processing infrastructure; may require increased post-consumer recycled content in packaging or alternative materials.

Cost-driven regulatory compliance; not verified as decarbonization infrastructure.
Climate Risk Disclosure

10-K identifies climate-related risks to agricultural commodity availability, water scarcity, and regulatory carbon-pricing exposure; acknowledges potential for increased compliance costs.

Risk acknowledgment only; no quantified mitigation or emissions reduction targets.

Social story

Conagra's social score reflects structural deficiencies in disclosed diversity and labor governance. No executive or board diversity percentages are provided in the 10-K, preventing verification against the 30% threshold. CEO-to-worker pay ratio is undisclosed, precluding assessment of pay equity. Union standing is absent from the filing—no mention of labor agreements, NLRB complaints, or strike activity in the past 24 months, indicating either no unionized workforce or non-disclosure. Employee turnover rates and supply-chain labor audits (e.g., for cobalt or lithium mining) are not disclosed. The company identifies labor shortages and turnover as operational risks but provides no DEI initiatives, pay equity commitments, or supplier diversity programs in the 10-K. Deductions applied for undisclosed diversity and no verified labor-relations framework.

Criticisms on file

No disclosed executive or board diversity percentages; no DEI program or supplier diversity program mentioned in 10-K
Source: CAG 10-K; absence of DEI disclosures across filing
CEO-to-median-worker pay ratio not disclosed; cannot assess compliance with 200:1 threshold
Source: CAG 10-K; compensation disclosure section not provided in source documents
No disclosed union standing, labor agreements, NLRB complaints, or strike activity history; company identifies labor market tightness and turnover risk but provides no union-related governance
Source: CAG 10-K, Employee Risks section
Supply-chain labor audits for human-rights hazards (cobalt, lithium, etc.) not disclosed; no modern slavery statement or living-wage commitment mentioned
Source: CAG 10-K; absence of supply-chain human-rights disclosure
High employee turnover identified as risk; company acknowledges 'periods of increased employee turnover' in recent years but no root-cause analysis or remediation strategy disclosed
Source: CAG 10-K, Item 1A Risk Factors, 'Employee Risks' section

Disclosed initiatives

Talent Acquisition and Retention Programs

Company states it offers 'robust training and development programs' to develop employee skills and compete for talent in emerging technologies (AI, data analytics).

Generic statement; no quantified retention metrics or DEI outcome targets disclosed.
Labor Cost and Benefit Management

Company acknowledges management of wages, health, pension, and severance benefits; states monitoring of interest rates, health care costs, and collectively bargained agreements.

Standard HR practice disclosure; no pay equity audits or supplier labor audits disclosed.

Governance story

Conagra's governance score reflects moderate structural discipline tempered by significant disclosure gaps and lobbying exposure. No dual-class share structure is disclosed (10-K references only 'common stock'), supporting a +0 on that criterion. Board independence percentage is not disclosed in the 10-K, preventing verification of the 75% threshold. Lobbying expenditures are not quantified in the filing; the company acknowledges being subject to extensive regulation and compliance burdens (food safety, environmental, antitrust) but does not disclose annual lobbying spend or stance on climate/consumer-protection deregulation. No antitrust, consumer-safety, or financial-fraud proceedings are disclosed as active or significant. The company has experienced cybersecurity threats and acknowledges AI governance risks but does not disclose enforcement actions. Deductions applied for undisclosed board independence and unmeasured lobbying exposure.

Criticisms on file

Board independence percentage not disclosed; cannot verify compliance with 75% threshold
Source: CAG 10-K; governance structure details not provided in source documents
Annual lobbying expenditures not quantified in 10-K; company subject to extensive regulation but no disclosed stance on climate regulation or consumer-protection deregulation advocacy
Source: CAG 10-K, Legal, Regulatory, and Environmental Risks section
Cybersecurity threats and third-party breaches acknowledged; company states 'to date, we are not aware that we have experienced a breach that had a material impact on our operations' but maintains cyber insurance and acknowledges evolving sophistication of attacks
Source: CAG 10-K, Item 1A Risk Factors, 'Cybersecurity, Information Technology Risks, and AI-Related Risks' section
AI governance risks emerging; company acknowledges risk of 'reputational harm, competitive harm, and legal liability' from AI use but no board-level AI ethics oversight or AI audit framework disclosed
Source: CAG 10-K, Item 1A Risk Factors, 'We are exposed to risk based on our increasing adoption and use of AI in a rapidly-evolving regulatory landscape'

Disclosed initiatives

Cybersecurity and Data Protection Program

Company states it monitors cybersecurity threats, invests in new technologies, develops third-party risk management capability for strategic suppliers, and maintains cyber insurance policy.

Risk mitigation framework disclosed; no quantified security breaches or material incidents reported to date.
AI Governance and Compliance Planning

Company acknowledges need to manage AI adoption in supply-chain, product development, marketing, and HR; identifies evolving regulatory landscape and potential for reputational harm.

Emerging governance framework; no formal AI ethics policy or board-level AI oversight disclosed.
Internal Controls and Regulatory Compliance

Company acknowledges extensive regulatory framework (FDA, USDA, FTC, OSHA, EPA, DOL) and states commitment to compliance with food safety, environmental, labor, and antitrust laws.

Standard governance practice; no third-party audit or compliance certification disclosed beyond regulatory requirements.

These are Missionomics' own editorial scores — directional signals built from disclosed facts under a published method, not certifications or definitive ratings of Conagra Brands, Inc.. Coverage and confidence vary by data point, and figures can lag real-world changes. Read the full Methodology for sourcing, scoring, and correction details — or open Conagra Brands, Inc. in the app for interactive charts and portfolio building.

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