letters_to_investors_kelloggs-5371bdfd6bb45474.pdf

A consortium of social justice and consumer organisations has written to several major institutional investors, including BlackRock, Aviva Investors, and Norges Bank Investment Management, to raise concerns about Kellogg's business practices in Mexico. The authors allege that since 2013, Kellogg's has reduced or removed two-thirds of essential micronutrients from its most popular cereal brands in Mexico to save costs. According to the consortium's analysis, Kellogg's saved an estimated 85 million USD over five years, while the minimum cumulative social cost to Mexico for the reduction of iron, calcium, and folic acid was 250 million USD. The letters argue that this practice contradicts Kellogg's public commitments to tackle food security and undernutrition, and poses a reputational and financial risk to investors who adhere to sustainable investment and ESG principles.

• Since 2013, Kellogg's has reduced or removed two-thirds of essential micronutrients from its most popular breakfast cereal brands in Mexico.
• Kellogg's is estimated to have saved 85 million USD over five years by removing micronutrients across five analysed brands, which represents 5.6% of its retail sales of breakfast cereals in Mexico during that period.
• The reduction of just three micronutrients—iron, calcium, and folic acid—from cereals resulted in a minimum cumulative social cost to Mexico of 250 million USD over five years.
• The consortium asserts that for every dollar Kellogg's saved through these removals, three dollars in value were destroyed for Mexican society.
• Despite claiming its decisions are science-led, Kellogg's has not provided the research justifying the removal of micronutrients in a region where deficiencies remain problematic.

APA

Tangpuori, A. D. (2019). letters_to_investors_kelloggs-5371bdfd6bb45474.pdf. Changing Markets Foundation. https://changingmarkets.org/wp-content/uploads/2023/10/Letters_to_investors_Kelloggs.pdf

Chicago

Tangpuori, Alice Delemare. letters_to_investors_kelloggs-5371bdfd6bb45474.pdf. Changing Markets Foundation, 2019. https://changingmarkets.org/wp-content/uploads/2023/10/Letters_to_investors_Kelloggs.pdf.

Wikipedia

{{cite press release |last1=Tangpuori |first1=Alice Delemare |title=letters_to_investors_kelloggs-5371bdfd6bb45474.pdf |publisher=Changing Markets Foundation |date=13 November 2019 |url=https://changingmarkets.org/wp-content/uploads/2023/10/Letters_to_investors_Kelloggs.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{tangpuori2019letterstoinvestorskelloggs5371bdfd6bb45474pdf, author = {Tangpuori, Alice Delemare}, title = {{letters\_to\_investors\_kelloggs-5371bdfd6bb45474.pdf}}, publisher = {Changing Markets Foundation}, year = {2019}, month = nov, url = {https://changingmarkets.org/wp-content/uploads/2023/10/Letters_to_investors_Kelloggs.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }