IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Firelight Launches as First XRP Staking Platform on Flare, Introduces DeFi Cover Feature 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Magnum Audit Flags Governance Issues at Ben & Jerry’s Foundation Ahead of Spin-Off 
Netflix’s Bid for Warner Bros Discovery Aims to Cut Streaming Costs and Reshape the Industry 
Proxy Advisors Urge Vote Against ANZ’s Executive Pay Report Amid Scandal Fallout 
GM Issues Recall for 2026 Chevrolet Silverado Trucks Over Missing Owner Manuals 
IKEA Launches First New Zealand Store, Marking Expansion Into Its 64th Global Market 
Momenta Quietly Moves Toward Hong Kong IPO Amid Rising China-U.S. Tensions 
ExxonMobil to Shut Older Singapore Steam Cracker Amid Global Petrochemical Downturn 
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.”
