Jim Beam Bourbon
Source: Jim Beam
Alcohol company Beam Suntory on Wednesday announced a $ 1 billion investment in new sustainability, diversity and responsible drinking initiatives.
As part of those plans, whiskey maker Jim Beam and Maker’s Mark pledged to cut water use and greenhouse gas emissions by half by 2030.
“The environment is changing around us and we need to be consumer-centric in everything we do,” Albert Baladi, CEO of Beam Suntory, told CNBC. “The planet needs it badly. Our consumers and stakeholders are expecting it. So it is time to climb the ladder of engagement, as we say, and tackle those bold ambitions.”
Beam Suntory, which is also behind rum brands Effen Vodka and Cruzan, also aims to have 50% of leadership positions held by women worldwide and to have minorities make up 45% of the US workforce by 2030. Beam Suntory will spend $ 500 million worldwide to educate consumers about responsible drinking and reduce harmful drinking, with a goal of reaching 300 million people worldwide by 2030.
Markers Mark Bourbon.
Source: Maker’s Mark
Sustainability, diversity, and responsible drinking plans are a growing trend in the alcohol business, partly due to the increase in investors interested in environmental, social, and governance issues.
- AB InBev, the brewer of Budweiser beer, has accepted Obtain all electricity from renewable sources and reduce carbon dioxide emissions by 25% by 2025.
- Diageo, Johnnie Walker’s distiller and Guinness brewer, has been set A goal of 50% of all company managers are women and 45% of managers with different backgrounds.
- Molson Coors has promised To reduce water consumption in breweries by 22% by 2025, responsible drinking education programs have been launched in 10 of the 13 countries in which the company operates.
Beam Suntory is a privately held company and not necessarily committed to ESG concerns. However, the CEO believes the $ 1 billion commitment will make the brand more attractive to key demographics.
“We believe that different companies are better companies, they innovate, they are more competitive and they do better in the marketplace,” said Baladi very favorably on these plans. “
Beam Suntory – a subsidiary of Suntory Holdings Ltd. from Japan based in Chicago – saw US sales growth of 4% in 2020. Baladi expects continued growth, but said the alcohol business remains “uncertain” meanwhile the Covid pandemic.