Page 5: Investment for sustainability
Sustainable business needs a long term plan. There are a number of pressures that businesses need to respond to from:
- stakeholders including shareholders
- environmental pressure groups, such as Friends of the Earth.
McCain also looks for ways to reduce its costs without compromising on quality for customers.
As market leader, McCain Foods can influence industry standards. It adopts business practices that go further than its legal obligations. The company is committed to improving its performance on environmental protection for both government and environmental groups. It has developed a plan to support both these goals.
The wind turbines will generate enough power to provide up to 60% of the plant's electricity requirements. By using wind power, McCain will:
- eliminate 10,300 tonnes of carbon dioxide emissions each year, reducing air pollution
- reduce its use of electricity from the national grid, resulting in cost savings and protecting the company against increasing energy prices in the years ahead
The new wastewater lagoon will generate power through the capture of methane gas. This will produce nearly 6,000 megawatt-hours, resulting in annual savings of around 10% in energy costs.
McCain's investment in renewable energy is not just about cost savings. It will bring other business benefits. The projects help to demonstrate its corporate responsibility and strengthen both its reputation and the brand.
The public is concerned about environmental and healthy living issues. McCain is aware of the need to respond to public opinion. It needs to support healthy eating and sustainable farming and seek to reduce its carbon footprint. Its investment in sustainable energy sources shows that it is listening to its stakeholders and adopting sustainable business practice. This will help it retain its market leadership.