Fiscal 2022 Universal Registration Document

These Advanced food model activities represented 6% of Businesses & Administrations food revenues in Fiscal 2022.

3.1.5 Working towards a Better Tomorrow

Guided by our Corporate Social Responsibility roadmap, we deliver on our commitments to ensure a positive impact on Individuals, Communities and the Environment.

During Fiscal 2022, Sodexo continued to reinforce its commitments to reduce its environmental footprint:

• in October 2021, Sodexo United Kingdom & Ireland has 

  announced a comprehensive roadmap to net zero and 

  decarbonization of its business. Having already exceeded the 

  target to reduce carbon emissions by 34% by 2025 (compared 

  to a 2017 baseline), the region has set out its next steps:

  
  

  • to become Carbon Neutral in its direct operations by 2025,

  • to continue to reduce carbon emissions across all three 

    scopes, to reach 55% below the 2017 baseline by 2030,

  • to decarbonize United Kingdom & Ireland business, with

    90% of all carbon emissions cut across all three scopes by 

    2045;

• in collaboration with EY and Traace, Sodexo released an 

  innovative digital Carbon Trajectory Tool on a worldwide basis 

  in April 2022. This tool is aimed at helping each activity, 

  country by country, create and manage its carbon reduction 

  roadmap by 2025 and beyond;

• in April 2022, Sodexo greenhouse emission reduction targets 

  for its Benefits & Rewards Services activity in Belgium have 

  been validated by the Science Based Targets initiative (SBTi). 

  The aim is to reduce absolute emissions by 64.9% by 2030,

  compared to a 2019 baseline.

Once again, our Corporate Responsibility achievements have been externally recognized:

• Sodexo remains at the top of its industry for the 17th consecutive year in the Dow Jones Sustainability World Indices (DJSI);
• Sodexo earns its 15th consecutive 100 on the Human Rights Campaign Foundation’s annual assessment of LGBTQ+ workplace equality;
• Sodexo is ranked #1 of the food service sector in World Benchmarking Alliance’s (WBA) first Food and Agriculture Benchmark, which measures how the world’s 350 most influential companies in the industry are transforming the food system for a more sustainable future;
• Sodexo was awarded Supplier Engagement Leader by CDP, placing us in the 8% top companies taking action to measure and reduce environmental risks within its supply chain.

3.1.6 Sophie Bellon, Chairwoman of the Board of Directors and Chief Executive Officer

Sophie Bellon became Chief Executive Officer of Sodexo on February 15, 2022, a position she had held on an interim basis since October 1, 2021. The Board considers she is the best placed to lead the Group through this new phase in its history.

Indeed, the Board of Directors noted the very strong momentum around the priorities set by Sophie Bellon to strengthen Sodexo’s competitiveness and accelerate its transformation.

These priorities being:

• boost growth in the United States by recruiting new sales executives, launching a new digital training program and implementing a specific compensation and long-term incentive program for the management team in North America;
• transform our food models through the large-scale deployment of our brands and offers, the development of partnerships with high-end brands and the digitalization of the consumer experience;
• more actively manage our business portfolio through strategic acquisitions and investments and the disposal of non-strategic businesses and geographies;
• improve organizational efficiency.

3.1.7 Acceleration of the Benefits & Rewards Services activity

In order to accelerate the development of the Benefits & Rewards Services activity, a strategic review has been undertaken since the beginning of the year, leading Sodexo to define a new, more ambitious and value-creating roadmap.

This strategic review resulted in an ambitious plan, presented during the Capital Markets Day on November 2, 2022, which can be summed up by:

• the strengthening of its leading position in its existing countries;
• accelerating growth by fully exploiting the capacities of its existing assets.