WEBVTT - Anheuser-Busch Encourages All to Drink Wiser

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<v Speaker 1>You're listening to Bloomberg Business Week with Carol Messer and

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<v Speaker 1>Bloomberg Quick Takes Tim Stinovic on Bloomberg Radio. A b

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<v Speaker 1>NBEV thinks a lot about E s G. Relies on

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<v Speaker 1>natural resources, as you know, in a big way. No water,

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<v Speaker 1>no beer. Basically it comes down to and that easily

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<v Speaker 1>makes the business case for doing what they do. It's

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<v Speaker 1>incredibly clear. The company has set out a series of

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<v Speaker 1>sustainability goals for They've got a pricing mechanism that incentivizes

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<v Speaker 1>improvement in four key areas. And part of that E

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<v Speaker 1>s G mission is also smart drinking, which is something

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<v Speaker 1>we're gonna talk about. John Blood is chief Legal incorporate

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<v Speaker 1>Affairs Officer at a b n BEV. He's with us

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<v Speaker 1>right now in the Bloomberg Interactive Broker Studio. John, I

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<v Speaker 1>want to get to everything that that Carol just mentioned.

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<v Speaker 1>But given the volatility that we've seen in the markets,

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<v Speaker 1>given the macroeconomic headwinds that we're seeing here in the

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<v Speaker 1>US around the world, rising commodity prices, I'm just wondering

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<v Speaker 1>how somebody in your position as chief legal in corporate

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<v Speaker 1>Affairs officers officer looks out over the landscape and thinks

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<v Speaker 1>about the health of the U S consumer, of the

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<v Speaker 1>global consumer. Everybody just relaxed thing, right, everyone just relaxing.

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<v Speaker 1>Just relax and open a beer, you know, Tim, Look,

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<v Speaker 1>I fill up my gas tank like everyone else, So

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<v Speaker 1>you know, I feel it and I feel for consumers

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<v Speaker 1>as well. And one of the great things about the

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<v Speaker 1>beer category is it's an affordable luxury. You can go

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<v Speaker 1>out this weekend, you can have a stellar artois, right,

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<v Speaker 1>you can go in, you can enjoy yourself. The price

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<v Speaker 1>point is right there. We have a portfolio approach at

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<v Speaker 1>all different price points, so it's really a great luxury

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<v Speaker 1>that you can have in these types of times. I mean,

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<v Speaker 1>one of the thing that I'm so floored with talking

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<v Speaker 1>to you and your senior um executive space is that

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<v Speaker 1>you guys have to understand your supply chaine so well, right,

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<v Speaker 1>because it just if things don't go well, uh, it

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<v Speaker 1>just all breaks down. And you also understand the impact

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<v Speaker 1>of climate change on that supply chain in big way,

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<v Speaker 1>which is why your sustainability initiatives are really impressive and

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<v Speaker 1>you've had them in place for a long time. Having

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<v Speaker 1>said that, how would you describe your supply chains today? Yeah.

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<v Speaker 1>For us. If you think about beer, right, for us

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<v Speaker 1>to take the United States for an example of what

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<v Speaker 1>we sell in the US is brewed here. We're talking

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<v Speaker 1>US farmers. We're talking folks in the US making it,

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<v Speaker 1>distributing it, brewing it, getting it there. So that's but

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<v Speaker 1>that doesn't mean we're not immune to the world, right,

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<v Speaker 1>And that doesn't mean that we also look out and

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<v Speaker 1>say what can we do to plan, what can we

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<v Speaker 1>do to get ahead of things? What tools do we

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<v Speaker 1>have in our toolkit? And because we're a global business,

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<v Speaker 1>we have a business in China, we have a business

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<v Speaker 1>in South America, we have a business in Europe. Talking

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<v Speaker 1>to those folks about what's on the ground is important

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<v Speaker 1>for us as well. I want to hear about what

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<v Speaker 1>you're hearing from the farmers on the ground here in

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<v Speaker 1>the US, because it's been a tough run for farmers

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<v Speaker 1>with fertilizer prices going up, with severe weather in many

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<v Speaker 1>parts of the country shortening this season. What are you

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<v Speaker 1>hearing from barley farmers, from hops farmers, Yes, so for

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<v Speaker 1>barley and hops there. This is something that we try

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<v Speaker 1>to plan out as best as we can. And particularly

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<v Speaker 1>when you take a look at something like organic right.

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<v Speaker 1>One of the beers that we have is an organic

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<v Speaker 1>brew right called organic Pure Gold, which is a michelob

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<v Speaker 1>Ultra product. And to get someone right to the farmer

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<v Speaker 1>to come in and say, hey, we want you to

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<v Speaker 1>plan organic barley a right, that's gonna take some time. Right,

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<v Speaker 1>we have to work with them. We have to give

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<v Speaker 1>them those long term contracts. And we really see ourselves

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<v Speaker 1>in the industry and you need to look at yourself

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<v Speaker 1>as part of the whole chain. So we feel for

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<v Speaker 1>those farmers. We try to give them those contracts to

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<v Speaker 1>give them the stability going forward to say, particularly the

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<v Speaker 1>organic side, we're gonna work with you in the long

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<v Speaker 1>term so you can transition to that. John, I feel

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<v Speaker 1>like this is so into some of the conversations we're

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<v Speaker 1>just talked with Peter Farcy uh, the CEO of sun Power,

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<v Speaker 1>and just talking about you know, certainly when it comes

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<v Speaker 1>to trade tensions between the U S and China that

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<v Speaker 1>impacts certainly the solar industry UM, but I also think

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<v Speaker 1>about that, you know, what is the responsibility when it

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<v Speaker 1>comes to our global supply chains. You guys have just

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<v Speaker 1>taken the initiatives a lot on your own right to

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<v Speaker 1>make sure you ensure the stability and purity of those

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<v Speaker 1>supply chains. What is though, the government role, especially when

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<v Speaker 1>it comes to things like and I know this isn't

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<v Speaker 1>your wheelhouse, but whether it's semi conductors or water or

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<v Speaker 1>or what have you, because some of this becomes like

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<v Speaker 1>national security issues, and I do wonder is your responsibility.

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<v Speaker 1>You know, I'm sure you're dealing with folks in Washington

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<v Speaker 1>from time to time, so I do under the conversations

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<v Speaker 1>that are coming out or that need to be have,

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<v Speaker 1>that we need to be having when it comes to

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<v Speaker 1>our national supply chains, just coming off of the pandemic. Yeah, well,

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<v Speaker 1>I love this question because it really hits home that

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<v Speaker 1>if you think, as a business executive, you're going to

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<v Speaker 1>solve any of this by yourself, and you're gonna sit

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<v Speaker 1>in your room and you're gonna get a power point open,

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<v Speaker 1>you're gonna plan something out, you're mistaken. You need to

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<v Speaker 1>work with partnerships. You need to work with your stakeholders.

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<v Speaker 1>And the first thing to understand is who are your stakeholders.

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<v Speaker 1>So your stakeholders are national governments, your stakeholders are farmers,

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<v Speaker 1>Your stakeholders are these consumers. But your stakeholders are the

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<v Speaker 1>communities as well where you're looking for these supplies to

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<v Speaker 1>come out of. So if in fact, you're working with

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<v Speaker 1>folks who farm in another country, what are you doing

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<v Speaker 1>with them to make sure that they're planning? How can

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<v Speaker 1>you give them something as simple as maybe financial literacy.

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<v Speaker 1>We have a program where we work with a lot

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<v Speaker 1>of our farmers to say, we want to help you

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<v Speaker 1>become better farmers. But more importantly, we're not going to

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<v Speaker 1>teach you that you're going to learn from other farmers

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<v Speaker 1>in other countries. You're gonna learn from other our farmers

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<v Speaker 1>down the street, and we'll put that together so you

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<v Speaker 1>can understand when the weather changes about what's the best technique.

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<v Speaker 1>You can share that because at the end of the day,

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<v Speaker 1>that community is something that can learn from each other,

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<v Speaker 1>and we can be a vehicle to that. It sounds

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<v Speaker 1>like to that you're not going to necessarily wait for

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<v Speaker 1>government to do all the things. Right. I don't think

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<v Speaker 1>you can, right. I think you need to partner, but

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<v Speaker 1>I don't think you can wait. And by the way,

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<v Speaker 1>you know, waiting for me right, Sometimes right, you wait

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<v Speaker 1>and you sort of look at something. But when it

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<v Speaker 1>comes to things like supply chain activity, right planning, but

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<v Speaker 1>more importantly, talking right, talking to people, reaching out to

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<v Speaker 1>those stakeholders is key. All right, I know you came

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<v Speaker 1>in to talk about smart drinking, and we're gonna get

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<v Speaker 1>to that. We're gonna do a little break, do some news,

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<v Speaker 1>and then we're gonna come back. We with have a

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<v Speaker 1>nice chunk of time because this fits into your e

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<v Speaker 1>s G. The corporate speaking, corporate thinking really over at

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<v Speaker 1>A b in BEP. So we're gonna come back with

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<v Speaker 1>John Blood, he's chief Legal and Corporate Affairs officer at

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<v Speaker 1>A b in BED. I want to get right back

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<v Speaker 1>to our guest because here in our Interactive Brokers studio

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<v Speaker 1>is John Blood still with US chief Legal and Corporate

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<v Speaker 1>Affairs officered A b in BEV. And we were talking

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<v Speaker 1>about kind of the industry and what you're seeing in

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<v Speaker 1>terms of supply chains. But one thing we wanted to

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<v Speaker 1>get to because you are a company that has really

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<v Speaker 1>laid out sustainability goals. We talk a lot about e

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<v Speaker 1>s G getting a reckoning and people wanting transparency as

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<v Speaker 1>part of e s G. Though you guys think about

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<v Speaker 1>safe drinking, talk to us are smart drinking? Talk to

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<v Speaker 1>us about that and how it fits in because, right,

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<v Speaker 1>we're living in a world where there are multiple stakeholders

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<v Speaker 1>and then includes our consumer. Yeah, thanks Karen. When I

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<v Speaker 1>think about smart drinking, right, when I think about what

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<v Speaker 1>we do with our product, right, I think about my family. Right,

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<v Speaker 1>my kids ride their bikes on the street. Right. I

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<v Speaker 1>want to make sure that we have the best programs

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<v Speaker 1>for anti drunk driving, right, I want to make sure

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<v Speaker 1>that we have the best programs for people to remind

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<v Speaker 1>them about smart drinking. Really, what we call social norms marketing.

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<v Speaker 1>This is something where you're not just in the old

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<v Speaker 1>days of like, hey, we're going to raise awareness, right,

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<v Speaker 1>that's ten twenty years ago. This is evidence based programs

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<v Speaker 1>that give people actionable advice. Now it's simple action, a

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<v Speaker 1>little advice. It'll be things like hydrate between drinks, have

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<v Speaker 1>a non alcohol beer with the beer, eat before and

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<v Speaker 1>while you drink. Simple things like don't drink if you're pregnant,

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<v Speaker 1>plan to have a ride home. Those are the social

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<v Speaker 1>norms advertising that's away from drink responsibly. Drink responsibly. We

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<v Speaker 1>do want people to drink responsibly, but we need more

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<v Speaker 1>than that today. You need to be more action orient

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<v Speaker 1>what prompted that change because drink responsibly is something that

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<v Speaker 1>I remember going back, you know, decades at this point

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<v Speaker 1>when it comes to marketing. What changed this to actionable advice?

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<v Speaker 1>What was that pivotal point? Two things to him. One

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<v Speaker 1>is the science, right, when we work with academics, they

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<v Speaker 1>tell us this actionable advice, this social norm advice can

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<v Speaker 1>make a difference. And the second is about five years ago, right,

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<v Speaker 1>we were looking at our programs and we said, we

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<v Speaker 1>have all these smart drinking programs around the world, and

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<v Speaker 1>we think they were We've been doing them for years.

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<v Speaker 1>And then we asked ourselves, does anyone have any data

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<v Speaker 1>if they work or not? Have we has anyone tested this?

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<v Speaker 1>And how do you test it? And that's where the

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<v Speaker 1>process started. We wanted to test it. We wanted to

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<v Speaker 1>make it evidence based, and by the way, we share

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<v Speaker 1>the evidence with all those who want to look. We

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<v Speaker 1>have a foundation that does it. We work at the

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<v Speaker 1>academics whoever wants to look and look at it. We

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<v Speaker 1>test the programs and go with the ones that have

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<v Speaker 1>the biggest and best impact. What's the biggest piece of advice,

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<v Speaker 1>you know, for our kids. The guy grew up in

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<v Speaker 1>a family where older parents. I don't know, like different era,

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<v Speaker 1>Like there was alcohol in the house and I had

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<v Speaker 1>my first drink with my parents, you know, at a

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<v Speaker 1>relatively young age, for better for worse. But I and

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<v Speaker 1>I and I am responsible about drinking today. But like,

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<v Speaker 1>what is how do we approach this with kids? Yeah,

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<v Speaker 1>and this is a fascinating question because if you take

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<v Speaker 1>a look at the US and you take a look

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<v Speaker 1>at the rest of the world, right, there are cultural norms. Right,

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<v Speaker 1>there are laws as well. Of course we tell kids

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<v Speaker 1>do not drink. Right when the law says, whatever it is,

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<v Speaker 1>that's the law, you need to enforce it. However, right

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<v Speaker 1>when we deal with alcohol, right, when we deal with

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<v Speaker 1>what we call these social norms, it's so important right

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<v Speaker 1>that when we deal with it, we remember that alcohol

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<v Speaker 1>is often part of the special and beer in particular

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<v Speaker 1>is part of those meaningful moments in life when someone says,

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<v Speaker 1>let's grab a beer. Right there in part talking about

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<v Speaker 1>the beer, but they're talking about the social connection. Oftentimes,

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<v Speaker 1>when someone says let's grab a beer, they want to

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<v Speaker 1>have a meaningful interaction with you, right, They want to

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<v Speaker 1>have a real conversation, They want to be together and

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<v Speaker 1>sort of balancing that in the right way is what

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<v Speaker 1>you really need to talk to everyone about. Right, you

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<v Speaker 1>need to talk to them about this is how you

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<v Speaker 1>respect the product. This is how you enjoy the product

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<v Speaker 1>by treating it the right way. And that's what smart

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<v Speaker 1>drinking is all about, reminding people. It's like nudging them right.

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<v Speaker 1>Social norms also is about some people might think, Oh,

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<v Speaker 1>on Thursday night, my friends go out and they drink

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<v Speaker 1>six or seven beers. You know what, when you look

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<v Speaker 1>at the data, it's not the case, right there, drinking

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<v Speaker 1>one or two. When you remind people of that, you

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<v Speaker 1>can then nudge and change the social norms so people

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<v Speaker 1>behave differently. And that's what social norms is all about.

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<v Speaker 1>What about when it comes to drunk driving? Right now,

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<v Speaker 1>because annhezer Bush has decided to ride campaign has partnered

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<v Speaker 1>with Uber, and I think back to just my own

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<v Speaker 1>experience in my twenties, and I lived in the mountains

0:10:20.080 --> 0:10:23.079
<v Speaker 1>and there was no Uber, there was no lift. There

0:10:23.160 --> 0:10:25.240
<v Speaker 1>was a huge problem where I lived when it came

0:10:25.280 --> 0:10:28.760
<v Speaker 1>to drunk driving. Uh, there was this terrible joke that

0:10:28.880 --> 0:10:30.440
<v Speaker 1>you know, to be a local and veil you needed

0:10:30.440 --> 0:10:32.079
<v Speaker 1>to have a c L surgery and a D u I,

0:10:32.559 --> 0:10:36.560
<v Speaker 1>because then you really lived there. And I wonder how

0:10:36.679 --> 0:10:40.360
<v Speaker 1>much Uber and lift and ride hilling has changed this

0:10:40.440 --> 0:10:43.920
<v Speaker 1>because it is so easy to find a ride. You know,

0:10:44.160 --> 0:10:47.160
<v Speaker 1>it is all about sort of embracing the moment. Right.

0:10:47.160 --> 0:10:51.280
<v Speaker 1>When technology gives you something that allows you to nudge

0:10:51.360 --> 0:10:55.679
<v Speaker 1>society towards a healthier pattern, towards a social norm that's positive,

0:10:55.960 --> 0:10:57.520
<v Speaker 1>you need to embrace it. And that's why we're so

0:10:57.559 --> 0:11:00.600
<v Speaker 1>happy with Uber and Mothersn' getting drunk driving right as

0:11:00.679 --> 0:11:03.520
<v Speaker 1>part of that program of decide to ride, right, saying

0:11:03.559 --> 0:11:05.560
<v Speaker 1>to folks, you know what, there is a solution, and

0:11:05.559 --> 0:11:07.720
<v Speaker 1>it's very important to remember to him as well. When

0:11:07.720 --> 0:11:11.200
<v Speaker 1>we talk about decide to ride, it's not just oh hey,

0:11:11.240 --> 0:11:12.680
<v Speaker 1>you get a free ride home or you get a

0:11:12.679 --> 0:11:16.079
<v Speaker 1>discount ride home. It's about the mindset of I'm gonna plan,

0:11:16.559 --> 0:11:19.000
<v Speaker 1>I'm gonna plan to ride. And I love your generational

0:11:19.040 --> 0:11:23.840
<v Speaker 1>approach here because if you talk to the three year olds, right,

0:11:23.920 --> 0:11:26.679
<v Speaker 1>it's almost instinctual now like, well, no, I'm gonna use

0:11:26.760 --> 0:11:28.480
<v Speaker 1>uber the why would I take the rid? Why would

0:11:28.520 --> 0:11:31.120
<v Speaker 1>I do this? And it's a different mindset because I'm

0:11:31.160 --> 0:11:33.160
<v Speaker 1>a little older than you, Tim, but I remember that

0:11:33.200 --> 0:11:37.120
<v Speaker 1>attitude even worse. And what social norms about is nudging

0:11:37.240 --> 0:11:40.360
<v Speaker 1>is changing the way people behave in act and that

0:11:40.480 --> 0:11:43.040
<v Speaker 1>mindset is super powerful and that's why you see drunk

0:11:43.120 --> 0:11:47.800
<v Speaker 1>driving numbers over the last ten years coming down. You know,

0:11:48.040 --> 0:11:50.480
<v Speaker 1>it's interesting, what do you okay, I'm just this is

0:11:50.559 --> 0:11:53.600
<v Speaker 1>very random. But like cars making, you know, you can't

0:11:53.640 --> 0:11:56.600
<v Speaker 1>start the car that you have to blow into like

0:11:56.640 --> 0:11:58.640
<v Speaker 1>a car, do you think that's a good thing? You know,

0:11:58.679 --> 0:12:01.400
<v Speaker 1>we a part of this process technology. Think about how

0:12:01.400 --> 0:12:03.959
<v Speaker 1>transformative it can be, but think about how that could

0:12:04.280 --> 0:12:06.520
<v Speaker 1>take it to another level. You can't start a car

0:12:06.880 --> 0:12:09.000
<v Speaker 1>if you blow a certain alcohol level. Like, how do

0:12:09.040 --> 0:12:11.000
<v Speaker 1>you guys feel about something like that? So when you

0:12:11.040 --> 0:12:13.839
<v Speaker 1>see about the powers of technology right now, we've seen

0:12:13.920 --> 0:12:17.880
<v Speaker 1>some research on everything from when you touch a steering wheel,

0:12:17.920 --> 0:12:19.880
<v Speaker 1>it will be able to measure your blood alcohol level

0:12:19.880 --> 0:12:23.880
<v Speaker 1>through your skin to sensors in the car. Look, one

0:12:23.960 --> 0:12:25.720
<v Speaker 1>thing that we had a B ANDB of love right

0:12:25.760 --> 0:12:29.480
<v Speaker 1>is embracing technology to solve problems. And man, if we

0:12:29.520 --> 0:12:31.720
<v Speaker 1>get if we get the right technology to solve it

0:12:31.880 --> 0:12:34.360
<v Speaker 1>and we measure everything about there. We talk about all

0:12:34.360 --> 0:12:36.680
<v Speaker 1>the different elements of privacy rights and all those types

0:12:36.679 --> 0:12:40.600
<v Speaker 1>of things but that's an exciting and exciting time when

0:12:40.640 --> 0:12:44.880
<v Speaker 1>technology can really make a jump leap. Wow, that's very exciting.

0:12:46.120 --> 0:12:48.600
<v Speaker 1>I am like blown away. It's really interesting and I'm

0:12:48.679 --> 0:12:51.559
<v Speaker 1>I'm optimistic in a world that's very dark that you say,

0:12:51.679 --> 0:12:53.319
<v Speaker 1>like things are getting better when it comes to like

0:12:53.400 --> 0:12:55.679
<v Speaker 1>drunk driving. Right, we're seeing statistics some of the work

0:12:55.679 --> 0:12:57.680
<v Speaker 1>that you guys are doing. It's making a difference just

0:12:57.720 --> 0:12:59.800
<v Speaker 1>at about thirty seconds, yeah, you know exactly, and also

0:12:59.880 --> 0:13:02.000
<v Speaker 1>around the world as well, right, So you know you

0:13:02.040 --> 0:13:04.640
<v Speaker 1>have the US issues, right, but you know, being able

0:13:04.679 --> 0:13:07.559
<v Speaker 1>to go to a country and run the first anti

0:13:07.640 --> 0:13:10.520
<v Speaker 1>drunk driving campaign to have a brand embrace that is

0:13:10.559 --> 0:13:12.400
<v Speaker 1>really for me the exciting part of being about a

0:13:12.400 --> 0:13:15.360
<v Speaker 1>global company, and it's amazing that it's the first in

0:13:15.360 --> 0:13:18.400
<v Speaker 1>some countries, right considering it's certainly been a chronic problem

0:13:18.440 --> 0:13:20.560
<v Speaker 1>for a while. So I think this is an important issue.

0:13:20.559 --> 0:13:23.000
<v Speaker 1>We have so many important issues that are really dominating

0:13:23.040 --> 0:13:24.640
<v Speaker 1>our world right now. I mean, we talk a lot

0:13:24.679 --> 0:13:28.000
<v Speaker 1>about opioids, we talk about guns, but let's not forget

0:13:28.080 --> 0:13:30.080
<v Speaker 1>that the amount of people who lose their lives right

0:13:30.240 --> 0:13:33.400
<v Speaker 1>still because it's something like drunk drivers. Um, John Blood,

0:13:33.400 --> 0:13:35.640
<v Speaker 1>thank you for stopping by. We really appreciate it. Next

0:13:35.640 --> 0:13:38.560
<v Speaker 1>time we're going to do an n A segment's chief

0:13:38.640 --> 0:13:41.640
<v Speaker 1>Legal Incorporate Affairs officer at a b NBAD fourteen Stanific.

0:13:41.679 --> 0:13:44.199
<v Speaker 1>I'm Carol Masster. Have a good and safe evening. This

0:13:44.360 --> 0:13:44.960
<v Speaker 1>is Bloomberg