European Stocks Rise as Markets Await Key U.S. Inflation Data 
Netflix’s Bid for Warner Bros Discovery Aims to Cut Streaming Costs and Reshape the Industry 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Asia’s IPO Market Set for Strong Growth as China and India Drive Investor Diversification 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Magnum Audit Flags Governance Issues at Ben & Jerry’s Foundation Ahead of Spin-Off 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
IKEA Expands U.S. Manufacturing Amid Rising Tariffs and Supply Chain Strategy Shift 
YouTube Agrees to Follow Australia’s New Under-16 Social Media Ban 
Microchip Technology Boosts Q3 Outlook on Strong Bookings Momentum 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Tesla Expands Affordable Model 3 Lineup in Europe to Boost EV Demand 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
Trump Administration to Secure Equity Stake in Pat Gelsinger’s XLight Startup 
Nestle Australia is shifting to renewable energy, and it was announced this week that it will now manufacture its products in factories that use eco-friendly electricity sources. The Swiss food giant signed a deal with CWP Renewables to help the company with a sustainable energy supply.
Nestle Australia said on Monday, Nov. 29, that it secured a 10-year power purchase agreement or PPA with the Austalia-based CWP Renewables. The renewable energy firm is expected to supply electricity to Nestle’s plants which will be sourced from CWP’s 270-MW Sapphire and 134-MW Crudine Ridge wind farms that are operating in New South Wales.
As per Renewables Now, the power that the wind farms will provide is enough to supply energy demand in six of Nestle’s manufacturing plants in Australia, three company offices, 20 retail facilities, a laboratory, and two distribution hubs. The total contracted energy capacity was said to be enough to cover 19,000 homes per year.
In any case, the shift to renewable energy is expected to help Nestle prevent emitting about 73,000 tonnes of carbon dioxide per year. Certainly, the deal with CWP is in line with Nestle Australia’s initiative to totally shift to renewable in four years. The Milo and Nescafe producer also has a goal of cutting its net emissions by 50% by the year 2030 and eventually becoming net-zero by 2050.
In a report, Nestle’s Oceania chief executive officer, Sandra Martinez, said she is proud that the company was able to push its plans and accelerate to 100% renewable energy. Although they managed to shift to eco-friendly energy now, she said there is still a lot to be done for the complete transformation.
“This means that when Aussies are enjoying Nestlé products made in our Australian factories, they can do so knowing that it is made by electricity that has been renewably sourced,” Martinez said in a statement. “This builds on the work we are already doing to rethink our packaging, build sustainable supply chains, drive carbon neutral brands, and transform our product portfolio with more plant-based foods and drinks.”
