The Absolut Company has predicted that partnerships and green funding are going to 'make or break' its ability to hit carbon reduction goals.
The statement follows the launch of the Pernod Ricard-owned firm's Sustainability Report, which covers ESG initiatives in the financial year ending June 2022. The report warns that the spirits industry is still dealing with 'supply chain issues, an energy crisis, inflation, and rising interest rates'.
'Coffee for Good'
Aside from Absolut, the company's two other main brands, Kahlúa and Malibu, have reached key milestones, according to the report.
It notes that Kahlúa sources 100% of its coffee from the Mexican farming communities participating in its 'Coffee for Good' initiative. The key aim of the project, launched in collaboration with a local NGO in 2016, is to help the farming communities sustain themselves.
Furthermore, the report notes that Malibu bottles are now produced with 30% recycled plastic.
'Determined As Ever'
The report suggests strong progress has been underpinned by the 'partnerships and collaborations' the brands have fostered across the farming, packaging and logistics sectors.
"Sustainability continues to be very high on our agenda despite the global economic, logistical and geopolitical challenges we have all faced," said Stéphanie Durroux, chief executive, The Absolut Company.
"Some events, such as Europe's energy crisis, have served to intensify the climate change debate, yet as our latest Sustainability Report highlights, we are as determined as ever."
© 2023 European Supermarket Magazine – your source for the latest drinks news. Article by Robert McHugh. Click subscribe to sign up to ESM: European Supermarket Magazine.