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BROWN-FORMAN CORPORATION

(BF.B)
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Brown Forman : Joins RE100 Global Initiative

10/14/2021 | 11:04am EST

Reinforces Commitment to 100% Renewable Electricity by 2030

Brown-Forman Corporation, one of the largest American-owned global spirits and wine companies, is joining RE100, a global environmental initiative, and committing to 100% renewable electricity by 2030.

RE100 is an initiative run by The Climate Group, a global non-profit that focuses on activities against climate change, in partnership with the CDP, a global non-profit that drives companies and governments to disclose and manage their environmental impacts. A total of 267 companies have joined the initiative worldwide.

In September, Brown-Forman announced their long-term Global Sustainability Goals that serve as a roadmap in advancing sustainability, reducing the company’s environmental footprint, and increasing its positive impact on the community and environment. By joining RE100, Brown-Forman is taking another climate action step to reduce greenhouse gas emissions.

“We recognize the risks climate change poses to our business and our communities, and we want to mitigate our impact. Combining our past investments in solar at Sonoma-Cutrer, along with our recent investments in a wind power purchase agreement and solar power at the Jack Daniel Distillery, we believe we are taking the necessary steps along the journey to 100% renewable energy,” said Alex Alvarez, Chief Production and Sustainability Officer, Brown-Forman.

Sam Kimmins, Head of RE100 at Climate Group said: “We are delighted to welcome Brown-Forman to RE100. By committing to 100% renewable electricity by 2030, Brown-Forman joins over 300 of the world’s leading businesses committed to driving market change. This sends a powerful message that renewable electricity makes good business sense, and we encourage others to follow”.

Brown-Forman has been on a steady path of integrating sustainability more deeply into the business through its production facilities and collaboration with its partners. As part of its overall commitment to strong environmental practices, Brown-Forman holds itself accountable to global aspirations like the United Nations Sustainable Development Goals. The baseline for Brown-Forman’s Sustainability Goals come from the 2019-2020 fiscal year and reporting will follow the company’s fiscal year financial reporting.

For detailed information on the commitments, reporting against them, and a video sharing the story of our commitments, please visit brown-forman.com/sustainability.

For over 150 years, Brown-Forman Corporation has enriched the experience of life by responsibly building fine quality beverage alcohol brands, including Jack Daniel's Tennessee Whiskey, Jack Daniel's Tennessee RTDs, Jack Daniel's Tennessee Honey, Jack Daniel's Tennessee Fire, Jack Daniel's Tennessee Apple, Gentleman Jack, Jack Daniel's Single Barrel, Woodford Reserve, Old Forester, Coopers’ Craft, GlenDronach, Benriach, Glenglassaugh, Slane, Herradura, el Jimador, New Mix, Korbel, Sonoma-Cutrer, Finlandia, Chambord, and Fords Gin. Brown-Forman’s brands are supported by approximately 4,700 employees and sold in more than 170 countries worldwide. For more information about the company, please visit http://www.brown-forman.com/.

RE100 is a global initiative bringing together the world's most influential businesses committed to 100% renewable power. Led by international non-profit the Climate Group in partnership with CDP, the group has a total revenue of over US$6.6 trillion and operates in a diverse range of sectors. Together, they send a powerful signal to policymakers and investors to accelerate the transition to a clean economy. #RE100


ę Business Wire 2021
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Financials (USD)
Sales 2022 3 745 M - -
Net income 2022 817 M - -
Net Debt 2022 1 221 M - -
P/E ratio 2022 43,5x
Yield 2022 0,99%
Capitalization 34 696 M 34 696 M -
EV / Sales 2022 9,59x
EV / Sales 2023 9,06x
Nbr of Employees 4 700
Free-Float 71,1%
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Number of Analysts 16
Last Close Price 74,19 $
Average target price 72,37 $
Spread / Average Target -2,45%
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Managers and Directors
Lawson E. Whiting President, Chief Executive Officer & Director
Leanne Dean Cunningham Chief Financial Officer
Campbell P. Brown Chairman
Tim Nall SVP, Chief Information & Advanced Analytics Office
Patrick Bousquet-Chavanne Independent Director
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