Treasury hits sustainability targets and sets sights on more
Australian wine giant Treasury Wine Estates has released its 2020 ‘Sustainability Report’ highlighting the reductions it has achieved in carbon emissions and landfill waste as well as setting new targets for further packaging guidelines and women in leadership roles.
Chief executive officer Tim Ford (pictured) said: “This year’s report reflects our ongoing commitment to sustainability, and we are pleased with the progress we are making and our ability to have a positive impact on the areas that matter to our consumers, customers, and communities.”
The company splits its sustainability initiative into four parts; ‘Performance’ looking at transparency and outside commitments, ‘Planet’ managing its direct impact on the environment, ‘People’ which aims to enhance the lives of its employees and local communities and ‘Product’ looking at wine production and corporate responsibility.
TWE revealed in its latest report that over the past year it had managed to reduce its carbon emissions by 3.1%, been able to reduce waste going to landfill by 96.2% and reduced its water and energy usage by 13.5% and 9.7% respectively.
It also introduced new global packaging guidelines with goals to make 100% of its packaging recyclable, reusable or compostable by the end of 2022; 100% of packaging and outer packaging materials comprised of at least 50% recycled material by 2025 and work with its glass and carton partners to create a ‘closed loop’ packaging solution, ensuring zero waste, by 2025.
In addition, the group has begun a two year Climate Scenario Analysis to identify risks and opportunities arising from climate change and how to react to them, committed to a goal of 50% of leadership roles filled by women by 2025, invested in greater choice for lower alcohol options and began a glass light weighting review for part of its ranges.
Ford said: “Building a sustainable future goes beyond the environmental impact. TWE recognises that long term success also comes with a focus on our people so we can deliver the best outcomes for all stakeholders. We’ve complemented our existing initiatives with a global COVID-19 risk management plan to provide additional paid leave enhanced mental health and wellbeing programs and increased communication to ensure our people felt as supported as possible.
“TWE remains committed in its pursuit to implement the ten principles of the United Nations Global Compact and work underway to help achieve the Sustainable Development Goals. ASEAN businesses can have an impact and purpose beyond the production and sale of products and is critical that it commits to and shows the positive impacts that they can have on environmental and social issues. We look forward to continuing to progress with our sustainability agenda and lead the industry by example.”
The full 2020 report with details of how TWE achieved its goals and more information on the additional goals it has set itself can be found here.