Kraft Heinz recently released its first-ever corporate social responsibility report on Tuesday. The global food company announced its commitment to transition to 100 percent cage-free eggs in all operations by 2025. Business Consultant Ryan Patel explains the increasing importance of social responsibility.
"This is a necessary thing," says Patel. "This shows to the rest of the bigger companies you need to be transparent." Kraft Heinz says the four pillars of their corporate social responsibility strategy include better supply chain, environment, products, and communities.
Shares of Kraft Heinz are down about 7 percent year-to-date. Patel says consumers will hold the company responsible for their promises.