The global foodservice industry experienced a 29% drop in company filings mentions of social responsibility in Q3 2022 compared with the previous quarter, with the highest share accounted for by McDonald’s with 29% year-on-year increase, according to GlobalData’s analysis of over 60 foodservice company filings.
Notably, social responsibility was one of the most frequently referenced themes in Q3 2022, ranking highest in terms of mentions, ahead of governance and batteries, according to GlobalData’s whitepaper on Social Responsibility in Foodservice – Filings Trends in Q3 2022.
Of the 50 leading companies in the foodservice industry, McDonald's had the greatest increase in references for social responsibility in Q3 2022, compared with the previous quarter. GlobalData identified 257 social responsibility-related sentences in the company's filings - 428% of all sentences - and an increase of 634% in Q3 2022 compared with Q2 2022. Yum! Brands’s mentions of social responsibility rose by 4100% to 84 and Darden Restaurants’s by 700% to 24.
GlobalData’s Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for social responsibility in Q3 2022 was 129.