Hasbro, Inc. is a multinational American company that operates in the Toys & Games sector. The company has a long history of producing some of the most iconic toys and games that have entertained generations of children and adults alike. Founded in 1923, Hasbro has grown to become one of the largest toy and game manufacturers in the world, with a presence in over 130 countries.
As a global company, Hasbro is committed to reducing its carbon footprint and contributing to decarbonisation efforts. The company recognizes that climate change is one of the most pressing challenges facing the world today, and it is taking steps to mitigate its impact on the environment. Hasbro has set ambitious targets to reduce its greenhouse gas emissions and transition to renewable energy sources.
One of the ways Hasbro is reducing its carbon footprint is through corporate energy initiatives. The company is committed to using energy more efficiently and reducing its reliance on fossil fuels. Hasbro has implemented a number of energy-saving measures, such as upgrading lighting systems and HVAC systems in its facilities. The company has also invested in renewable energy technologies, such as solar panels and wind turbines, to generate clean energy on-site.
In addition to these measures, Hasbro is also exploring the use of corporate power purchase agreements (PPAs) to support the development of renewable energy projects. A corporate PPA is a long-term contract between a company and a renewable energy developer, in which the company agrees to purchase a certain amount of energy from the developer at a fixed price. This type of agreement provides a stable revenue stream for the developer, which can help to attract financing for new renewable energy projects.
Hasbro has already signed several corporate PPAs to support the development of new renewable energy projects. For example, in 2020, the company signed a 20-year PPA with a wind farm in Texas, which will provide Hasbro with 90% of its electricity needs in the US. The wind farm is expected to generate over 500,000 MWh of renewable energy annually, which is equivalent to the energy consumption of over 50,000 homes.
Hasbro's commitment to renewable energy and decarbonisation is also reflected in its sustainability goals. The company has set a target to achieve net-zero greenhouse gas emissions by 2050, and it is working towards this goal through a range of initiatives. These include reducing the emissions associated with its products and packaging, improving the efficiency of its operations, and transitioning to renewable energy sources.
Hasbro's sustainability efforts have been recognized by a number of organizations. In 2020, the company was named to the Dow Jones Sustainability World Index for the second year in a row. This index recognizes companies that demonstrate leadership in environmental, social, and governance (ESG) performance.
In addition to its corporate sustainability initiatives, Hasbro is also committed to engaging its employees and customers in sustainability efforts. The company has launched a number of educational programs and initiatives to raise awareness about environmental issues and encourage sustainable behavior. For example, Hasbro has developed a sustainability curriculum for schools, which teaches children about the importance of reducing waste, conserving energy, and protecting the environment.
Overall, Hasbro is a company that is committed to sustainability and decarbonisation. Through its corporate energy initiatives, corporate PPAs, and sustainability goals, the company is taking concrete steps to reduce its carbon footprint and transition to renewable energy sources. Hasbro's commitment to sustainability is not only good for the environment, but it also demonstrates the company's leadership in the Toys & Games sector and its commitment to creating a better future for all.