Treasury commits to 100% renewables by 2024

By Jo Gilbert

Published: 09 September, 2021

Treasury Wine Estates’ (TWE) brands are joining the RE100 global renewable power initiative, a move which will see the company switch to 100% renewable electricity by 2024 across its global operations.

The commitment applies to all of the firm’s brands, which include Penfolds, Wolf Blass, Lindeman’s, Squealing Pig and 19 Crimes in the UK.

Kirsten Gray, TWE chief corporate services officer, said the company was also taking action to improve energy efficiency and minimise energy use.

“We have more than 12,700 hectares of vineyards globally, so we understand the importance of managing and planning for the impacts of climate change – not only as a global premium wine producer but also as a responsible business that operates in communities all around the world.

“As we all work towards a cleaner world, we’re proud to be one of the early wine industry adopters to join RE100 alongside some of the world’s most influential businesses. We know that global warming is happening faster than previously predicted, which is why we have set the bold target for our global operations to be powered with renewable electricity by 2024,” she said.

RE100 is a global corporate renewable energy initiative which brings together large businesses and aims to drive the transition to 100% renewable electricity.

By signing up, TWE has said it will ramp up use of solar power to reduce the environmental impact of its operations.

“Electricity currently accounts for approximately 75% of our Scope 1 and 2 emissions and we’ve already begun the transition to renewable electricity through solar panel installations and solar hot water at key sites around the world,” Gray said.

TWE’s renewable electricity target forms part of its broader sustainability agenda which includes net zero carbon emissions (Scope 1 and 2) by 2030 and a range of activities to prepare for and adapt to a changing climate.

“This plan will help TWE to lead the way in addressing climate change,” RE100 Australian coordinator Jon Dee added.

“When consumers drink these premium wines, they’ll know that the sun is helping TWE to grow and produce their wine in a cleaner and greener way.”

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