The Estée Lauder Companies Becomes First Prestige Beauty Company to Execute a Virtual Power Purchase Agreement for Renewable Energy
The Estée Lauder Companies Inc. (NYSE:EL) has signed a virtual power purchase agreement (VPPA) for the Ponderosa wind farm in Beaver County, Oklahoma, adding renewable energy to the electricity grid. This agreement makes The Estée Lauder Companies Inc. the first prestige beauty company to execute a VPPA1 and bolsters its renewable electricity footprint in the U.S. and Canada.
The VPPA is the company’s largest renewable energy contract globally. The Ponderosa wind farm alone will cover more than half of the company’s global electricity footprint with renewable energy technologies, putting the company on target to meet its global 2020 Net Zero carbon emissions RE100 commitment. The company announced it would build upon this existing Net Zero commitment and set a science-based target covering Scopes 1, 2 and 3 by the end of 2020. Through the company’s renewable energy solutions in its portfolio, the company has achieved 100% renewable electricity (RE100) in the United States and Canada ahead of schedule.
“The Estée Lauder Companies is committed to innovating to help achieve a low-carbon future,” said Nancy Mahon, Senior Vice President, Global Corporate Citizenship and Sustainability of The Estée Lauder Companies. “We’re so pleased to meet our 2020 RE100 commitment for North America early. Projects like the Ponderosa wind farm and others in our Net Zero portfolio are all significant achievements toward our commitments to address climate change.”
Under the VPPA, the company will purchase the energy produced by 22 megawatts (MW) of the Ponderosa wind farm, owned and operated by a subsidiary of NextEra Energy Resources, which equates to approximately 10 wind turbines. The wind energy the company will buy from Ponderosa is equivalent to powering more than 9,000 typical U.S. homes and will reduce fossil fuel emissions equivalent to removing more than 14,000 cars from the road annually. Construction of the Ponderosa wind farm is scheduled to begin in early 2020.
“We are proud to partner with The Estée Lauder Companies on this forward-looking investment in renewable energy,” said John Di Donato, Vice President of Development for NextEra Energy Resources. “In addition to low cost, homegrown energy, the Ponderosa Wind project will create good jobs and millions of dollars in additional revenue for the local community – helping fuel America’s clean energy economy.”
The Ponderosa VPPA is the latest renewable energy project in the company’s renewables portfolio, which also includes a 1 MW solar PV system at its Whitman Laboratories in the U.K. and 1.4 MW ground-mounted solar array recently constructed at the company’s Melville campus in New York, among other projects in the pipeline. The U.S. Environmental Protection Agency (EPA) has recognized The Estée Lauder Companies Inc. as one of the top ten retail partner green power users in the EPA’s Green Power Partnership’s most recent rankings. The company is one of a select few RE100 signatories in the beauty industry.
Cautionary note regarding citizenship and sustainability information:
This press release contains information about our citizenship and sustainability goals and efforts. These involve certain risks and uncertainties, such as changes in our business (e.g., acquisitions, divestitures or new manufacturing or distribution locations), the standards by which achievement is measured, the assumptions underlying a particular goal and our ability to accurately report particular information. Actual results could differ from our stated goals or the results we expect. We also may change, or decide not to pursue, certain goals or initiatives. Moreover, the standards by which citizenship and sustainability efforts and related matters are measured are developing and evolving, and certain areas are subject to assumptions. The standards and assumptions could change over time. In addition, statements made about our company, business or efforts may not apply to all business units (e.g., ones that are recently acquired). We assume no responsibility to update the information contained in this press release or to continue to report any information.
About The Estée Lauder Companies Inc.
The Estée Lauder Companies Inc. is one of the world’s leading manufacturers and marketers of quality skin care, makeup, fragrance and hair care products. The company’s products are sold in approximately 150 countries and territories under brand names including: Estée Lauder, Aramis, Clinique, Prescriptives, Lab Series, Origins, Tommy Hilfiger, M·A·C, Kiton, La Mer, Bobbi Brown, Donna Karan New York, DKNY, Aveda, Jo Malone London, Bumble and bumble, Michael Kors, Darphin, Tom Ford, Smashbox, Ermenegildo Zegna, AERIN, Tory Burch, RODIN olio lusso, Le Labo, Editions de Parfums Frédéric Malle, GLAMGLOW, By Kilian, BECCA and Too Faced.
1 According to the Business Renewables Center Deal Tracker.
Media: Bari Seiden-Young
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Sabio Group Acquires Coverage Group in France6.7.2020 11:00:00 EEST | Press release
Sabio Group has announced the acquisition of Coverage Group, one of France’s leading independent providers of customer experience and communications technology solutions. The acquisition supports Sabio’s goal of becoming the leading player across the European CX market and will add significant scale to the company’s French operations. Formed in 2007, Paris-based Coverage Group is an established Genesys Gold, Avaya Edge, Oracle Gold and Broadsoft technology partner. The company has a proven track record in helping organisations across France to place cloud-based customer experience solutions at the heart of their digital strategy, with customers including ENGIE, BEA, EBP, Emil Frey, Homeserve, NutriXo, Optimind, Pierre Fabre, Pierre & Vacances, Sitel and Teleperformance. “The acquisition is a massively important strategic addition for Sabio Group and our customers in a number of ways – it means we have now built a substantial presence and customer base in France, it further strengthens
BearingPoint helps government and public sector organizations deliver critical health and public services during the Covid-19 pandemic6.7.2020 10:00:00 EEST | Press release
Management and technology consultancy BearingPoint announced today that it is helping its government and public sector clients across Europe to deliver critical health and public services during the Covid-19 pandemic through new delivery models, new ways of working, digitalization, and automation. “BearingPoint’s organization as a single, European-based business has meant we have been able to draw on capabilities, leading practices and learnings from across our government and public sector clients and teams in many different countries. Working remotely and in partnership with our clients, we have quickly mobilized resources to design and deliver solutions to support both the public services needed during Covid-19 and the new ways of working for public servants,” said Andrew Montgomery, Partner and Global Leader Government and Public Sector at BearingPoint. New delivery models and services People’s health and well-being during the Covid-19 crisis have required public services to rapidly
DNA Selects VisualOn’s OnStream® Android TV to Deliver the Highest Quality of Service for Their Over the Top (OTT) Deployment on the Android TV Platform6.7.2020 09:00:00 EEST | Press release
VisualOn, Inc., a streaming software provider that enables scalable, cross-platform media playback for leading video services, today announced that the company is now providing DNA's end users the ability to stream the highest quality video using the Android TV. DNA is Finland's largest cable operator. Launched in February this year, the new DNA TV has revamped DNA’s TV offering for IP-based delivery, introducing multiple features including unlimited NPVR recordings, a new user interface and improved video stream quality. Through its innovative program-centric approach, subscribers can view and record unlimited TV programs with unprecedented ease of use and watch live and VOD content whenever they want, anywhere in the EU via the DNA TV app. Furthermore, the service delivers compelling content recommendations based on users’ individual viewing preferences. VisualOn, powered by AWS, has closely supported DNA to build and deploy this platform. “Service reliability and a seamless user exp
Excelya Welcomes Three European Contract Research Organizations to Become One Stop Provider Throughout Europe6.7.2020 09:00:00 EEST | Press release
Today, Excelya, a leading contract research organization (CRO) specializing in clinical research, announced that three European CROs joined Excelya Group: Zeincro based in Central-Eastern & Southern Europe, The Clinical Company based in the Netherlands and Belgium and Koehler eClinical based in Germany. Together, they will be known as Excelya Group. This alliance will allow Excelya to offer a one stop provider service model throughout Europe for its clients, whether they need full service, functional service providing or consulting services. Zeincro is a leading contract research organization primarily operating in Central-Eastern & Southern Europe with particular expertise in clinical operations, safety and medical affairs. The Clinical Company is present in the Belgian and Dutch markets specializing in clinical operations. Koehler eClinical is a German specialty CRO with a focus on biostatistics and data solutions. Thanks to the unification with these three companies, Excelya Group i
EMA Validates and Grants Accelerated Assessment for Trastuzumab Deruxtecan for the Treatment of HER2 Positive Metastatic Breast Cancer6.7.2020 09:00:00 EEST | Press release
Daiichi Sankyo Company, Limited (hereafter, Daiichi Sankyo) today announced that the European Medicines Agency (EMA) has validated the Marketing Authorization Application (MAA) for trastuzumab deruxtecan, a HER2 directed antibody drug conjugate (ADC), for the treatment of adults with unresectable or metastatic HER2 positive breast cancer who have received two or more prior anti-HER2 based regimens. Trastuzumab deruxtecan was granted accelerated assessment by the EMA’s Committee for Medicinal Products for Human Use (CHMP). Validation confirms that the application is complete and commences the scientific review process by the EMA’s CHMP. Accelerated assessment is granted by the CHMP to products expected to be of major interest for public health and therapeutic innovation and can significantly reduce the review timelines. “The accelerated assessment highlights the significant unmet need for patients with HER2 positive metastatic breast cancer that trastuzumab deruxtecan aims at addressing
Study Investigates Accuracy of Respiration Rate Obtained From Pulse Oximetry on Pediatric Patients Using Masimo RRp®6.7.2020 09:00:00 EEST | Press release
Masimo (NASDAQ: MASI) today announced the results of a study published in Pneumonia in which independent researchers in New Delhi, India, investigated the accuracy of Masimo RRp® on pediatric patients with the Rad-G™ Pulse Oximeter by comparing it to clinician-determined values while performing routine assessment of children admitted to outpatient and emergency departments.1 RRp provides respiration rate determined from the photoplethysmograph used in pulse oximetry. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200705005031/en/ Masimo Rad-G™ with RRp® (Photo: Business Wire) Noting the high incidence of childhood pneumonia in many parts of the world, the inclusion of oxygen saturation (SpO2) and respiratory rate measurement in pneumonia screening guidelines, and the scarcity of medical equipment and variability in medical training in many low-resource settings, Dr. Alwadhi and colleagues sought to determine whether a “multi
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom