Brands such as Penfolds, Beringer, Beaulieu Vineyards and Sterling Vineyards to be made with 100% renewable electricity by 2024
September 8th – Treasury Wine Estates Ltd (TWE) today announced it was joining the RE100 global renewable power initiative as part of the premium wine company’s commitment to switch to 100% renewable electricity by 2024 across its global operations.
This forms part of TWE’s sustainability ambition and goals announcement at their Investor Day in May, which includes a bold target of net zero emissions by 2030.
TWE’s luxury wines including Penfolds in Australia and Beringer, Beaulieu Vineyards and Sterling Vineyards in the United States, will be made with 100% renewable electricity by 2024.
Beringer Vineyards and TWE’s Paso Robles facility have used solar panels for more than a decade.
As part of its transition to renewable power, TWE Chief Corporate Services Officer Kirsten Gray said the company was also taking action to improve energy efficiency and minimize energy use.
“We have more than 12,700 hectares of vineyards globally, so we understand the importance of managing and planning for the impacts of climate change – not only as a global premium wine producer but also as a responsible business that operates in communities all around the world,” Ms Gray said.
“As we all work towards a cleaner world, we’re proud to be one of the early wine industry adopters to join RE100 alongside some of the world’s most influential businesses. We know that global warming is happening faster than previously predicted1, which is why we have set the bold target for our global operations to be powered with renewable electricity by 2024,” Ms Gray said.
RE100 Australian Coordinator Jon Dee said: “Vineyards have always relied on the sun to produce the grapes for wine. It makes business sense for TWE to go the next step and use the sun to power the facilities that turn their grapes into wines.”
“This plan will help TWE to lead the way in addressing climate change. When consumers drink these premium wines, they’ll know that the sun is helping TWE to grow and produce their wine in a cleaner and greener way.”
Head of RE100 at Climate Group Sam Kimmins said: “Treasury Wine Estate’s commitment to 100% renewable electricity by 2024 demonstrates their leadership in the energy transition. Together, our RE100 members represent a powerful force for positive change, and we encourage all large-scale businesses to join us.”
Ms Gray said the company’s commitment to RE100 is built on a legacy of reducing energy consumption and identifying alternatives to minimize the environmental impact of its wines.
1 6 August 2021, IPCC, AR6 Climate Change 2021: The Physical Science Basis,
https://www.ipcc.ch/report/ar6/wg1/downloads/report/IPCC_AR6_WGI_Full_Report.pdf
“Electricity currently accounts for approximately 75% of our Scope 1 and 2 emissions and we’ve already begun the transition to renewable electricity through solar panel installations and solar hot water at key sites around the world,” Ms Gray said.
“We’re committed to continuing to identify, trial, and implement opportunities to improve the energy efficiency and emissions profile of our business and to ensure our efforts are informed and supported by industry-led expertise,” Ms Gray said.
Further information about TWE’s sustainability strategy is available here (pages 34 – 40).
About Treasury Wine Estates
Treasury Wine Estates (TWE) is one of the world’s leading premium wine companies, employing 2,600 talented people across the world, with wine sold in more than 70 countries around the world. TWE owns world-class wine production and packaging facilities in Australia (primarily in South Australia and Victoria), Marlborough in New Zealand, the North and Central Coast regions of California as well as in France and Italy.
With a portfolio of outstanding wine brands, prized viticultural assets and world-class production facilities, TWE’s commitment to delivering shareholder value is underpinned by its passion for crafting, marketing and selling quality wine through building sustainable partnerships with customers and other industry partners, globally.
About RE100
RE100 is a global initiative bringing together the world’s most influential businesses committed to 100% renewable power. Led by international non-profit the Climate Group in partnership with CDP, the group have a total revenue of over US$6.6 trillion and operate in a diverse range of sectors. Together, they send a powerful signal to policymakers and investors to accelerate the transition to a clean economy.
