Potential offtaker

Starbucks Corporation

www.starbucks.com.hk

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Which other companies from United States of America are actively involved in decarbonization initiatives?
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  • Starbucks Corporation is a multinational coffee company that was founded in Seattle, Washington in 1971. It is one of the largest coffee companies in the world, with over 31,000 stores in 82 countries. Starbucks is known for its high-quality coffee, customer service, and ethical sourcing practices. The company is committed to sustainability and has taken significant steps towards decarbonisation and renewable energy.

    Decarbonisation is the process of reducing carbon emissions to mitigate climate change. Starbucks has set ambitious goals to reduce its carbon footprint and has made significant progress towards achieving them. In 2018, Starbucks announced that it had achieved 100% renewable energy in its company-owned stores in the US, Canada, and Europe. The company has also committed to reducing its carbon emissions by 50% by 2030, in line with the Paris Agreement.

    One of the ways that Starbucks is achieving its decarbonisation goals is through corporate energy initiatives. The company is investing in renewable energy projects, such as wind and solar farms, to power its stores and operations. Starbucks has also implemented energy-efficient technologies and practices in its stores, such as LED lighting and energy-efficient equipment. These initiatives have helped the company reduce its energy consumption and carbon emissions.

    Another way that Starbucks is decarbonising its operations is through corporate power purchase agreements (PPAs). A corporate PPA is a contract between a company and a renewable energy provider, where the company agrees to purchase a certain amount of renewable energy at a fixed price over a set period. Starbucks has signed several corporate PPAs to support its renewable energy goals. In 2019, the company signed a 20-year PPA with a wind farm in Oklahoma, which will provide enough energy to power 3,000 stores in the US.

    Renewable energy is a key component of Starbucks' sustainability strategy. The company is committed to sourcing 100% renewable energy for its global operations by 2020. Starbucks has also set a goal to have 10,000 stores powered by renewable energy by 2025. To achieve this goal, the company is investing in renewable energy projects and working with suppliers to increase the use of renewable energy in its supply chain.

    In addition to its decarbonisation and renewable energy initiatives, Starbucks is committed to sustainability in other areas of its business. The company has a comprehensive ethical sourcing program, which ensures that its coffee, tea, and cocoa are sourced responsibly and sustainably. Starbucks works with farmers and suppliers to improve farming practices, protect biodiversity, and support local communities.

    Starbucks is also committed to reducing waste and increasing recycling. The company has set a goal to make 100% of its cups reusable or recyclable by 2022. Starbucks has introduced a reusable cup program and is working to develop more sustainable packaging solutions. The company has also implemented recycling programs in its stores and is working with local governments and organizations to increase recycling infrastructure.

    In conclusion, Starbucks Corporation is a leading coffee company that is committed to sustainability and decarbonisation. The company has set ambitious goals to reduce its carbon footprint and increase its use of renewable energy. Starbucks is investing in renewable energy projects, implementing energy-efficient technologies, and signing corporate PPAs to support its sustainability goals. The company is also committed to ethical sourcing, reducing waste, and increasing recycling. Starbucks' sustainability initiatives demonstrate its commitment to being a responsible and sustainable business.

    ✓ Current offtaker under Corporate PPA's
    ✓ Re100 Gold member
    ✓ Science Based Targets member
    ✓ Declared Net Zero commitment