Asian Currencies Slip as Dollar Holds Firm, Yen Near Four-Decade Low Ahead of Fed, Jobs Data 
Kioxia Bets on AI Memory Boom With Next-Gen NAND Production in Japan 
Switch Seeks $2 Billion Funding at Nearly $50 Billion Valuation Ahead of Potential IPO 
Chinese Copper Foil Maker Londian Files U.S. IPO as EV Battery Demand Grows 
Apple Expands iPhone Lineup, Boosts Foldable iPhone Production Plans Through 2027 
Brazil to Phase Out Gasoline Subsidy First as Diesel Support Stays Longer 
Mary Daly Says AI Uncertainty Clouds Fed Rate Outlook Despite Restrictive Policy 
Gold Price Surges Above $4,120 as Weak US Jobs Data Lowers Fed Rate Hike Expectations 
Asian Stocks Mixed as South Korea Slides on Profit-Taking, Japan and China Gain on Strong Factory Data 
Michael Burry Shorts Tesla at $416 as AI and Semiconductor Bearish Bets Expand 
South32 Sells Major Aluminium Assets to Alcoa in Deal Worth Up to $5.6 Billion 
Greece’s Bad Loan Crisis Continues to Limit Credit Access Despite Economic Recovery 
Trump Reports $1.4 Billion in Crypto Income as Digital Assets Become Top Wealth Source 
Gold Price Holds Above $4,000 as Fed Rate Hike Expectations and U.S. Jobs Data Weigh on Market 
Apple Eyes Chinese Memory Chips as AI Shortage Pressures iPhone Supply Chain 
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.”
