Anheuser-Busch InBev has today joined a ESG initiative backed by Shareaction as it announces it will shift to 100 per cent renewable electricity.
According to the announcement, the brewing giant will source all purchased electricity from renewables by 2025 – a move that is expected to reduce its operational carbon footprint by 30 per cent.
Shareaction has been coordinating a coalition of pension funds and asset managers to work with companies to switch to 100 per cent renewables by an agreed date.
It represents 34 institutions managing over $1trn in assets with supporters including Aegon Asset Management, Menhaden Capital, KBI Global Investors, KLI and Strathclyde Pension Fund.
The so-called RE100, which is run in partnership with environmentally responsible investing advocate CDP and clean energy campaigner The Climate Group, has engaged with 89 companies that have now committed to 100 per cent renewables.
AB InBev is now the largest direct purchaser of renewable electricity in the consumer goods sector.
Eoin Fahy, head of responsible investing at KBI Global Investor says the move is in the best interests of shareholders, the environment and society at large, particularly as the US administration promises to turn its back on its climate change responsibilities.
“In the current political climate, with commitments to mitigate climate change under threat, it is even more important than ever that investors work together to encourage appropriate policy changes in the companies in which they invest.
“In joining the RE100 initiative companies such as Anheuser-Busch InBev are pressing ahead with real and substantive changes to the way they do business.”