NB spends N3.6bn on decarbonisation effort

In its bid to raise the bar on climate action and achieve net zero emission by 2030, Nigerian Breweries (NB) Plc said it spent N3.6 billion in decarbonisation of her footprints for the financial year ended December 31, 2023.

The firm also said it invested N100 million to empower 1,000 youths and vulnerable women, while N58 million was expended in addressing harmful use of alcohol by commercial drivers and pregnant women in the year under focus.

Speaking at the 78th Pre-Annual General Meeting Media Briefing in Lagos, Managing Director/Chief Executive, NB, Mr. Hans Essaadi, said that the investments were part of its brew a better world agenda with focused on three pillars including raising the bar on climate action; accelerating social agenda through community impact and addressing the harmful use of alcohol.

According to him, the investments further support the delivery of the United Nations Sustainable Development Goals and ensure that the company’s operations continue to protect the environment, ensure a fair, inclusive and equitable world and also make a positive contribution to society.

He said: “In keeping with our ambition of net zero carbon emissions in production by 2030 and in our full value chain by 2040, we sustained progress on our decarbonisation journey by executing strategic projects on renewable energy in 2023.

“Some of the key milestones include the commissioning of a four MWp hybrid solar PV plant installed with a 2MW/2MWh Battery Energy Storage System, BESS in Ama Brewery in Q1, 2023.

“In November, we signed a 15-year solar power purchase agreement with Daystar Power Energy Solutions, an integrated energy development company to deliver customized hybrid solar power solutions that will cover 42 percent of the daytime electricity needs of our Lagos brewery and the Corporate Head Office.

“Under the terms of the agreement, Daystar will install and operate a 4.2MWp solar plant with 2MWh battery storage system, positioning the installation as one of the largest solar and battery storage projects for an industrial manufacturer in Nigeria.”

The hybrid solar solution, according to him, would generate 5,249 MWh of electricity, reducing its Lagos brewery dependence on diesel generators by displacing 31.4 million litres of diesel and an estimated 84,758 tons of CO2 over the lifetime of the installation.

He noted that NB Plc continued its commitment to water stewardship with the commissioning of state-of-the-art Waste Water Treatment Plant (“WWTP”) in Kudenda Brewery, while commissioning of the Awo Omamma WWTP commenced in Q4, 2023 to achieve 100 percent of its production sites installed with functional waste water treatment facilities.

“Our collaboration with the Food and Beverage Recycling Alliance (FBRA), yielded notable results, supporting the recovery of 39,680 metric tonnes of plastic waste from the environment in 2023, a 235 percent increase over the previous year. We sustained NB Recycles, our internal plastic drive that complements our efforts through FBRA, promotes employee engagement and encourages our employees to recycle,” he said.

Meanwhile, the Board of NB did not recommend any dividend for the full year 2023, whereas the issued and fully paid-up Share Capital of the Company as at 31 December 2023 was 10,276,132,378 Ordinary Shares of 50 kobo each.

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