Diageo, the leading premium drinks company, has launched an initiative to manage water-use across its global supply chain. This comes in response to increasing stakeholder prioritization of ESG principles. As part of its Sustainable Solutions program, Diageo has introduced five water-focused innovations. The company aims to reach its sustainability goals outlined in its ESG action plan, Society 2030. Diageo's announcement aligns with a study from WTW, which found that a growing number of companies are incorporating ESG metrics into their executive incentive plans.
Frequently Asked Questions
FAQ 1: What initiative has Diageo launched related to water use in its supply chain?
Answer: Diageo has launched an open innovation call to improve water use across its supply chain. The initiative is aimed at reducing water usage and enhancing sustainability measures within their operations and throughout their supply chain partners.
FAQ 2: How does Diageo's initiative relate to WTW's ESG findings?
Answer: Diageo's water-use initiative echoes the findings of a new report by Willis Towers Watson (WTW) that emphasized the importance of robust ESG delivery for the sustainability of businesses. This indicates that Diageo's efforts in reducing water use aligns with broader ESG goals that are becoming imperative for corporate performance and accountability.
FAQ 3: Why is water-use reduction important for Diageo's supply chain?
Answer: Reducing water use in the supply chain is important for Diageo as it helps in minimizing the environmental impact, maintaining water security, and responding to the risks associated with water scarcity. It also aligns with the company's commitment to sustainability and responsible resource management.
FAQ 4: What actions is Diageo taking to influence water use in its supply chain?
Answer: Diageo is working to influence indirect water use in its agricultural supply chains, as well as encouraging key suppliers to report water use, risks, and management strategies in order to promote more sustainable practices company-wide.
FAQ 5: Are there any reports available regarding Diageo's ESG performance?
Answer: Yes, Diageo has published ESG Reporting Indices, such as the one from 2023, which provide detailed information about the company's efforts in minimizing energy use across its supply chain, among other ESG targets and initiatives. These documents are available on Diageo's corporate media website.
FAQ 6: Does Diageo engage with external organizations for its water security supply chain programs?
Answer: Diageo collaborates with external organizations such as the Carbon Disclosure Project (CDP) to ensure water security and implement comprehensive supply chain programs.
For more detailed information and to stay updated with Diageo's latest initiatives and sustainability efforts, interested parties can visit their official website and press release section, as well as consult industry-specific news sources like Supply Chain Digital.