USA – Tate & Lyle PLC has signed an agreement with Alabama Power to source renewable energy for its sucralose production facility in McIntosh, Alabama.
Under the arrangement, Tate & Lyle will receive renewable energy certificates (RECs) and electricity through Alabama Power’s REC program.
The RECs will be sourced from wind farms located in Kansas and Oklahoma. According to Tate & Lyle, this initiative will bring the facility’s Scope 2 greenhouse gas emissions to zero.
This partnership is also expected to increase Tate & Lyle’s global renewable energy usage to over 30% of its total purchased electricity.
Additionally, the company reports that this will lead to a 20% reduction in the carbon footprint of its sucralose ingredient.
Tate & Lyle emphasizes that this agreement forms part of a broader sustainability strategy.
The company’s environmental goals include reducing energy consumption, transitioning to renewable energy sources, and supporting sustainable farming practices.
Tate & Lyle’s climate targets, which are aligned with limiting global warming to 1.5°C, have been approved by the Science Based Targets initiative.
By 2030, the company aims to power all its global operations with renewable electricity.
This agreement comes as Tate & Lyle undergoes various changes.
Recently, the company appointed Sarah Kuijlaars as its new Chief Financial Officer (CFO).
Kuijlaars, who now sits on Tate & Lyle’s Board, is tasked with managing the company’s financial planning and setting growth targets.
In another recent move, Tate & Lyle acquired CP Kelco for US$1.8 billion in July 2024.
This acquisition is intended to expand Tate & Lyle’s product portfolio to meet growing consumer interest in healthier, more sustainable food and beverage options.
As part of the deal, J.M. Huber Corporation, the former parent company of CP Kelco, retains a 16% stake in the new entity and two seats on its Board.
Tate & Lyle is also managing its capital actively, recently completing a stock buyback of 158,262 ordinary shares as part of an ongoing share repurchase program.
Sign up to receive our email newsletters with the latest news updates and insights from Africa and the World HERE
