Monster Beverage 2023 Sustainability Achievements and Growth Highlights
At Monster Beverage, we are committed to reducing resource consumption in the production and distribution of our products. We acknowledge the mutual impact between our business and the environment, which is why our 2023 Sustainability Report highlights our ongoing efforts toward sustainability.
The year 2023 was marked by significant milestones. We introduced new brands, achieved a 9.6% growth in energy drink sales (measured in 192-ounce case equivalents), increased our net income by 36.9%, and welcomed the Bang® brand into our portfolio. These successes were made possible by the dedication of our global Monster Energy team.
In early 2024, we joined the Science Based Targets initiative (SBTi) to establish an emissions reduction target that aligns with a 1.5-degree Celsius global warming limit, to be set within the next two years. Additionally, we became a member of the Beverage Industry Environmental Roundtable (BIER) to enhance our understanding of sustainability in the beverage industry. We conducted a comprehensive review of our Scope 1, 2, and 3 greenhouse gas (GHG) emissions for 2022 and 2023, allowing us to better identify key emission sources. To address these, we are implementing strategies that focus on increasing recycled content in packaging, optimizing supply chains, expanding the use of renewable energy, and promoting responsible water management—all while enhancing operational efficiency and engaging our workforce.
Our progress, both in growth and sustainability, would not have been possible without the support of our employees, partners, stakeholders, customers, and consumers. We are grateful to everyone involved in our journey.
2023 Achievements
Environmental
The year 2023 was marked by significant milestones. We introduced new brands, achieved a 9.6% growth in energy drink sales (measured in 192-ounce case equivalents), increased our net income by 36.9%, and welcomed the Bang® brand into our portfolio. These successes were made possible by the dedication of our global Monster Energy team.
In early 2024, we joined the Science Based Targets initiative (SBTi) to establish an emissions reduction target that aligns with a 1.5-degree Celsius global warming limit, to be set within the next two years. Additionally, we became a member of the Beverage Industry Environmental Roundtable (BIER) to enhance our understanding of sustainability in the beverage industry. We conducted a comprehensive review of our Scope 1, 2, and 3 greenhouse gas (GHG) emissions for 2022 and 2023, allowing us to better identify key emission sources. To address these, we are implementing strategies that focus on increasing recycled content in packaging, optimizing supply chains, expanding the use of renewable energy, and promoting responsible water management—all while enhancing operational efficiency and engaging our workforce.
Our progress, both in growth and sustainability, would not have been possible without the support of our employees, partners, stakeholders, customers, and consumers. We are grateful to everyone involved in our journey.
2023 Achievements
Environmental
- Submitted our commitment to the Science Based Targets initiative (SBTi) to set short-term goals for reducing Scope 1 and Scope 2 GHG emissions in line with a 1.5-degree pathway. We are currently developing a formal science-based target for submission.
- Installed solar panels at four company-owned sites.
- Received recognition for our anaerobic digester at the AFF San Fernando facility, which was honored as an outstanding renewable energy project by Energy Vision.
- Completed all three phases of data collection for our environmental impact through the EcoBeast platform:
- Phase 1: Collaborated with over 100 bottlers and co-packers to gather energy and water usage data, improving Scope 3 emissions tracking.
- Phase 2: Partnered with the top 25% of our suppliers to collect similar data, enhancing our Scope 3 emissions data.
- Phase 3: Integrated our direct operations into EcoBeast for Scope 2 data collection.
Water Stewardship
- Partnered with Waterplan, a digital water risk management platform.
- Conducted water risk assessments of our direct operations.
- Published a Water Stewardship Policy.
Social
- Completed approximately 20,000 hours of training globally through Monster University, focusing on technical skills, career development, and business acumen.
- Recruited 803 participants for our global mentorship program.
- Increased investment in roles supporting Diversity, Equity, and Inclusion (DEI).
Philanthropy
- Supported 2,715 volunteer hours through our employee Volunteer Time Off program.
Governance
- Joined the Beverage Industry Environmental Roundtable (BIER), a global coalition of beverage companies focused on sustainability.
Click here to know more about Monster Beverage Corporation's sustainability progress.
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