Market
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Thermal Energy International discusses the potential impact of the IPCC Climate Report on global industries.
Food and Beverage Manufacturers Continued Response to Carbon Targets
Large food and beverage manufacturers continue to shape their businesses around energy and carbon reduction targets.
Thermal Energy
Aug 23, 2022
Food and beverage manufacturers continue to shape their businesses around energy and carbon reduction targets, engaging their entire value chains and SBTi for science-based emission reduction targets.
The SBTi show organizations how much and how quickly they need to reduce their greenhouse gas (GHG) emissions to prevent the worst effects of climate change. Targets are considered ‘science-based’ if they are in line with what the latest climate science deems necessary to meet the goals of the Paris Agreement.'
Coca-Cola Europacific Partners (CCEP) 'attributes over 90% of its emissions to its supply chain', with a goal of 'reaching net zero emissions by 2040'. CCEP has partnered with Rabobank to engage its suppliers in a competitive reward system it hopes will reduce greenhouse gas emissions across its value chain by 30% by 2030. This includes reduction targets with the Science Based Targets Initiative (SBTi).
Similarly, HEINEKEN has asked its suppliers to submit a Science-Based Net Zero Target (SBTi) as part of a packaging programme aimed at accelerating the carbon transition of its top 50 suppliers.
The Carlsberg Group has also unveiled its new sustainability targets to achieve net zero emissions across its global supply chain by 2040 under a new zero carbon strategy.
While these targets consider all aspects of the value chain such as packaging, it's still a clear indication that food and beverage manufacturers are prioritising emission reduction projects - perfectly timed with the launch of the Thermal Energy Carbon Consortium (TECC).
As reported in November 2021, six of the TEI's eight key corporate accounts have set emissions reduction targets through the Science Based Targets initiative (SBTi) - four of which are in the food and beverage sector. Having worked with four of the top five brewers worldwide, we've delivered projects with a combined total of over $50m for the food and beverage sector alone. The food and beverage industry is a strong market for Thermal Energy as we're able to easily find sufficient heat sinks to use the recovered heat.
In the UK, food and drink manufacturing contributes more to the economy than all other manufacturing sectors and is a leading manufacturing industry in Europe. We anticipate that food and beverage will continue to be a strong market for Thermal Energy.