Brewing giant pledges carbon reduction, renewable energy
The world’s biggest brewer, AB InBev, says it will use only renewable energy and recyclable packaging by 2025, as part of an ambitious sustainability plan laid out by the company.
Publicly listed, but controlled by three Belgium families, AB InBev says by 2025 100% of its farmers will be “skilled, connected and financially empowered” and it will also aim for a 25% carbon emission reduction in its value chain.
The company, which turned over $56.6 billion in 2017, planned to enlist scientists, technologists, and entrepreneurs to work on the goals.
Carlos Brito, chief executive, said climate change was the “most pressing issue confronting our planet and could impact the natural resources we rely on to brew our high quality beers”.
“More than ever, we see an opportunity to use sustainability as a catalyst for innovation,” Brito said.
The group’s beers include Budwesier, Corona, and Stella Artois.
James Packer’s ‘brave’ mental health resignation
Australian billionaire James Packer has earned the praise of mental health experts, after stepping down from his casino business to deal with his depression and anxiety.
Packer, former director at Crown Resorts Ltd and son of the late media mogul Kerry Packer, is thought to be seeking help in the United States after stepping down on 21 March from the business he half-owns. Crown turned over more than AUD $3.2 billion ($2.5 billion) in 2017.
A spokesman for Packer told media the resignation was due to mental health issues.
Commentators, including the chairman of Australian crisis support service Lifeline, John Brogden, lauded the next gen: “Packer [is] a lonely figure in business, but at the same time a brave and important one."
Packer has had a tumultuous year, including being caught up in a corruption scandal in Israel, weathering several hits to his international business interests, having 19 of his staff jailed in Australia for promoting gambling, and a public split from former fiancé Mariah Carey.
Packer is worth about $4 billion, according to Forbes.
L’Oreal buys AR app
L’Oreal is buying augmented reality app and technology company ModiFace, which allows customers to test makeup and hair products online on likenesses of their own faces.
The cosmetics giant, controlled by the Bettencourt family, said in a statement the purchase was part of its digital acceleration strategy to provide the group's 34 international brands with the most innovative technologies.
Founded by Parham Aarabi in 2007 in Toronto, ModiFace has developed advanced technologies of 3D virtual make-up. It is used by nearly all the major beauty brands and employs nearly 70 engineers, researchers and scientists.
L’Oreal turned over $32 billion in 2017.