Denver, Colorado, February 6 th , 2018 – Molson Coors Brewing Company (NYSE: TAP; TSX: TPX), recognized as a global leader for its actions and strategies to manage carbon and climate change across its supply chain, has been awarded a position on the Supplier Engagement leader board by CDP, the non-profit global environmental disclosure platform.
Supporting science-based targets in line with the requirements of the Paris Climate Agreement, Molson Coors has set an aggressive 2025 goal to lower absolute carbon emissions by 50% within its own operations and by 20% across its value chain. The details of its ambitious carbon emissions reduction plan can be found in its Our Beer Print Report 2018.
Over 5,000 companies were assessed by CDP on their supply chain engagement strategies. Molson Coors Brewing Company is among the 3% of organizations to be awarded a position on the leader board, in recognition of its actions to reduce emissions and lower climate-related risks in the supply chain in the past reporting year.
As more companies look to understand and manage the impact of their supply chains, over 130 leading companies have earned a place on the third annual Supplier Engagement leader board, more than double than the 58 companies last year and over quadruple the 29 featuring in the first year.
“We’re committed to an ethical and sustainable supply chain that reduces our collective greenhouse gas emissions across the value chain,” said Celso White, Global Chief Supply Chain Officer at Molson Coors. “From working collaboratively with packaging suppliers to growers in our agricultural supply chain, Molson Coors has set ambitious carbon reduction targets to ensure that every glass of beer we brew supports our communities and works toward a more sustainable planet.”
The Supplier Engagement leader board is released today in Cascading commitments: Driving upstream action through supply chain engagement, CDP’s Global Supply Chain Report 2019, written by CDP and Carbon Trust. The report reveals that with greenhouse gas emissions in supply chains on average 5.5 times those of company’s direct operations, there has been a step-change in corporate awareness and action on environmental impacts within the supply chain in the last decade.
In 2018, 115 organizations wielding a combined purchasing power in excess of US$3.3 trillion, requested environmental information from their suppliers, up from 14 ten years ago. Suppliers reported emissions reductions of 633 million metric tonnes of carbon dioxide – greater than the emissions of South Korea in 20171 – leading to collective cost savings of US$19.3 billion.
“In the ten years that we have been working with purchasing organizations we have seen a fundamental shift in expectations around business action on sustainability,” commented Sonya Bhonsle, Global Head of Supply Chain at CDP. “Leading purchasers are using disclosure to push positive change down the supply chain, with data playing an increasingly important role in their decision-making. If suppliers continue to cascade good practices further down the supply chain, this has the potential to play a huge role in the rapid transition to a sustainable, low-carbon economy.”
CDP is an international non-profit that drives companies and governments to reduce their greenhouse gas emissions, safeguard water resources and protect forests. Voted number one climate research provider by investors, CDP leverages investor and buyer power to motivate companies to disclose and manage their environmental impacts. The Supplier Engagement leader board is available on CDP’s website.
About Molson Coors
Molson Coors has defined brewing greatness for more than two centuries. As one of the largest global brewers, Molson Coors works to deliver extraordinary brands that delight the world’s beer drinkers. From Coors Light, Coors Banquet, Miller Lite, Molson Canadian, Carling, Staropramen and Sharp’s Doom Bar to Leinenkugel’s Summer Shandy, Blue Moon Belgian White, Hop Valley, Creemore Springs and Crispin Cider, Molson Coors offers a beer for every beer lover.
Molson Coors operates through Molson Coors Canada, MillerCoors in the US, Molson Coors Europe and Molson Coors International. The company is not only committed to brewing extraordinary beers but is also running a business focused on respect for its employees, communities and drinkers, which means corporate responsibility and accountability right from the start. It has been listed on the Dow Jones Sustainability North America Index for eight consecutive years. To learn more about Molson Coors Brewing Company, visit molsoncoors.com, ourbeerprint.com or on Twitter through @MolsonCoors.
This press release contains “forward-looking statements” within the meaning of the US federal securities laws. Generally, the words “believe,” “expect,” “intend,” “anticipate,” “project,” “will” and similar expressions identify forward-looking statements, which generally are not historic in nature. Forward-looking statements include those relating to Molson Coors’ investments in socioeconomic programs; water management and other environmental efforts; reuse and recycling measures; and sourcing of raw materials. Although Molson Coors believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from Molson Coors’ present projections and expectations are disclosed in Molson Coors’ filings with the Securities and Exchange Commission (“SEC”). These factors include, among others, health of the beer industry and its brands in its markets; economic conditions in its markets; stock market and commodities performance; crop yields; consumer demand; global economic conditions; changes in laws and regulations; development of new technology; costs of resources and raw materials; force majeure events; changes in its supply chain system; availability or increase in the cost of packaging materials; success of its joint ventures; risks relating to operations in developing and emerging markets; the impact of climate change, weather and the availability and quality of water; the ability to attract, hire and retain qualified personnel; future financial and operating performance within and related to the industry; and other risks discussed in its filings with the SEC. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Molson Coors does not undertake to update forward-looking statements, whether as a result of new information, future events or otherwise.