Raising the bar: AVL Wines announces Net Zero 2040 commitment
AVL Wines — the company behind pillar brands McGuigan, Tempus Two, Nepenthe and more — has committed to an ESG strategy that encompasses environmental impact and climate action, alongside social impact initiatives to support communities and good corporate governance.
Informed by current climate science, the company plans to achieve net zero carbon emissions by 2040 across the entire value chain.
Taking an evidence-based approach to achieving net zero, AVL Wines has set a long-term target to reducing scope 1, 2 and 3 emissions by 2040. In the near term, the company will reduce absolute scope 1 and 2 emissions 42% by 2030 and reduce scope 3 emissions 52%.
AVL Wines Chief Executive Craig Garvin said: “Sustainability is paramount to our success in the future. It’s a critical issue but also one of the biggest opportunities of our time. It’s more than a social licence, it’s a value creator and a key driver for innovation. Consumers want to support brands and businesses that put people and planet first and we’re seeing this in the purchasing decisions of our customers. We are undertaking world-class initiatives and embedding sustainability into our DNA. We are on a journey, with an ambition to be net positive in everything we do.”
Initiatives include 100% transition to renewable energy sources, addressing downstream transportation emissions and innovating around sustainable packaging solutions to meet 2025 National Packaging Targets.
From a social impact perspective, AVL Wines is committed to engaging the communities in and around the company. Internally, employee health and wellbeing is a focus.
AVL Wines Head of Sustainability Lucy Nash said that the renewed focus on understanding the impact of the business is an opportunity to take an industry leadership position.
“This process has enabled a more robust, progressive and long-term roadmap to fuel our progress and future-proof our business. Our ambitious science-based approach will propel the business to net zero by 2040, a decade ahead of the standard 2050 target,’’ Nash said.
The announcement comes as the wine company releases its FY22 results, delivering underlying profit, before SGARA, of $21.5 million.
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