Molson Coors Beverage Company

Distillers & Vintners

TAP

$ 56 0.65

Share price

$ 12 bn

Market Cap

$ 19 bn

Enterprise Value

Carbon footprint

GHG emissions per $ 1 mln investment

1.9x the weighted average for S&P 500

FY2020

Primary Climate Goal

Proj. YOY change in GHG emissions (Scope 1 + 2)

Stronger than the -5.1% weighted average for S&P 500

FY2021

Molson Coors Beverage Company aims to reduce Scope 1 + 2 by 50% by 2025 from a base year 2016

This target has not been verified as science based according to SBTi

Secondary Climate Goal

Proj. YOY change in GHG emissions (all Scopes)

FY2021

Molson Coors Beverage Company aims to reduce all Scopes by 20% by 2025 from a base year 2016

This target is most likely outdated and the company appears to have already achieved it

This target has not been verified as science based according to SBTi

GHG emissions and Carbon intensity

Molson Coors Beverage Company reported Total CO2e Emissions - Market-Based Scope 1 + Scope 2 for the twelve months ending 31 December 2020 at 1,018 Kt (-43 /-4.1% y-o-y). At the same time, carbon intensity grew to 105 t (+5.1/+5.1% y-o-y).

Molson Coors Beverage Company's Scope 3 emissions decreased to 4,257 Kt (-315 /-6.9% y-o-y). This is a higher rate of decline than over the period since 4Q'16 (-5% CAGR).

The company is committed to reducing Scope 1 + 2 by 50% by 2025 from a base year 2016, which translates into the estimated reduction of -70 Kt per annum over the period of FY2021 - FY2025. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.

Also, the company commits to reducing all Scopes by 20% by 2025 from a base year 2016, which it appears to have already achieved as of 2020. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.

Date	Total CO2e emissions (market-based Scope 1 & 2) (Kt)	Scope 1	Scope 2	Scope 3	Revenue (USDm)	Carbon intensity (tons of CO2e) / (USDm)
2020Q4	1,018	398	620	4,257	9,654	105
2019Q4	1,061	406	655	4,572	10,579	100
2018Q4	1,120	436	684	4,936	10,770	104
2017Q4	1,140	448	692	5,289	11,003	104
2016Q4	1,338	472	866	5,505	4,885	274