Brown-Forman Corp is a leading American company in the distillers sector, with a rich history dating back to 1870. The company is headquartered in Louisville, Kentucky, and is known for its iconic brands such as Jack Daniel's, Woodford Reserve, and Old Forester. Brown-Forman is committed to sustainability and has taken several initiatives to reduce its carbon footprint and promote renewable energy.
Decarbonisation is a key priority for Brown-Forman, and the company has set ambitious targets to reduce its greenhouse gas emissions. In 2020, the company announced its Science-Based Targets initiative (SBTi) to reduce its absolute scope 1 and 2 greenhouse gas emissions by 15% by 2030, from a 2019 baseline. The company also aims to reduce its scope 3 emissions by 30% by 2030, from a 2019 baseline. To achieve these targets, Brown-Forman is implementing several measures such as energy efficiency improvements, renewable energy sourcing, and decarbonisation of its supply chain.
Corporate energy is another area where Brown-Forman is making significant strides. The company has implemented several energy efficiency measures across its operations, including lighting upgrades, HVAC system improvements, and process optimization. These measures have resulted in significant energy savings and reduced greenhouse gas emissions. In 2020, Brown-Forman announced that it had achieved a 12% reduction in energy intensity across its global operations, from a 2012 baseline.
Corporate power purchase agreements (PPAs) are also a key part of Brown-Forman's renewable energy strategy. The company has signed several PPAs with renewable energy developers to source renewable energy for its operations. In 2018, Brown-Forman signed a PPA with a wind farm developer to source renewable energy for its operations in Oklahoma. The PPA enabled the company to source 30 MW of wind power, which is equivalent to 90% of the electricity consumed by its operations in the state. The company has also signed a PPA with a solar farm developer to source renewable energy for its operations in California.
Renewable energy is a key focus area for Brown-Forman, and the company is committed to sourcing 50% of its electricity from renewable sources by 2025. The company has made significant progress towards this goal, with renewable energy accounting for 17% of its global electricity consumption in 2020. The company has also invested in on-site renewable energy generation, such as solar panels on the roof of its distillery in California.
In addition to its renewable energy initiatives, Brown-Forman is also committed to sustainable sourcing of raw materials. The company sources its corn, rye, and barley from farmers who follow sustainable agricultural practices. The company also works with its suppliers to reduce the environmental impact of its packaging materials, such as glass and paper.
Brown-Forman's sustainability initiatives have been recognized by several organizations. In 2020, the company was included in the Dow Jones Sustainability North America Index for the seventh consecutive year. The company was also recognized by the CDP (formerly the Carbon Disclosure Project) for its leadership in climate change disclosure and management.
In conclusion, Brown-Forman Corp is a leading American company in the distillers sector, with a strong commitment to sustainability. The company is taking several initiatives to reduce its carbon footprint and promote renewable energy, including decarbonisation, corporate energy, corporate PPA, and renewable energy. Brown-Forman's sustainability initiatives have been recognized by several organizations, and the company is committed to continuing its leadership in sustainability.