Chivas Brothers, the scotch whisky division of Pernod Ricard, has unveiled a £60 million investment strategy aimed at achieving carbon-neutral distillation by the conclusion of 2026.
The multi-year investment announcement coincided with Chivas Brothers revealing its financial results for FY23, which it characterized as its “most robust financial performance in ten years,” marked by a remarkable 17% increase in net sales.
Over the upcoming three years, this investment will expedite the brand’s efforts to reduce energy consumption and carbon emissions, with the ultimate goal of achieving carbon-neutral distillation by the close of 2026.
Chivas Brothers intends to utilize the earmarked investment to introduce heat recovery technologies and incorporate electric boilers in distilleries where feasible. In addition to reducing its carbon footprint, the brand will allocate resources to enhance strategic inventory management, thereby ensuring a future-proof model capable of consistently meeting the worldwide demand for its Scotch whiskies.
Chivas Brothers chairman and CEO, Jean-Etienne Gourgues, said, “The historic highs we’re seeing across our strategic brands signal the success of our premiumisation strategy which has enabled Chivas Brothers to outperform the market. Our highest growth of the last decade reinforces our position to shape the future of sustainable Scotch while continuing to meet demand.”
In July, the brand extended the availability of its carbon-reduction technology to the broader industry. This decision followed the successful integration of the company’s heat recovery technology at Pernod Ricard’s Glentauchers distillery in Scotland, resulting in a substantial 53% reduction in the site’s carbon emissions.
He continued, “We have fast-tracked a number of sustainability initiatives to meet our own ambitious targets and remain committed to supporting the industry in ushering in this new era – as we demonstrated earlier this year by making our heat recovery findings open source”.
