Diageo is to invest over €100m (£85.6m) to decarbonise its historic St. James’s Gate site in Dublin 8, where Guinness has been brewed for 264 years.

The investment underpins the drink giant’s goal to accelerate to net zero carbon emissions for the site and will transform energy and water consumption with the aim to make it one of the most efficient breweries in the world by 2030.

The investment will also enable the site to entirely phase out the use of fossil fuels in its direct brewing operations and reduce Scope one and two greenhouse gas emissions generated by the site by more than 90%, in line with the Science Based Target initiative’s definition of net zero.

By 2030, the site’s renewable energy strategy will combine the use of the grid-supplied electrical power heat pumps and biogas generated within a new water recovery facility.

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This facility will also improve water use efficiency and enable a projected reduction in the water used to brew Guinness by 30%.

The investment was announced at the site by Diageo’s global chief executive Debra Crew, who was joined by the Taoiseach Simon Harris, as well as the minister for enterprise, trade and employment Peter Burke, who are providing government-backed support for the decarbonisation project.

Crew said: “I want to thank the Taoiseach and Minister Burke for their support for our ambitious decarbonisation plan for St. James’s Gate as demonstrated by the support from our partners Enterprise Ireland.

“St. James’s Gate is an historic location for an iconic brand. We’re 260 years into our 9,000-year lease at St. James’s Gate and this investment will ensure that Guinness has an exciting and long-term sustainable future.

“We are proud to lead the way on decarbonisation, both as a major Irish business and as an industry-leading company.”