- April 23th, 2021
Viña Concha y Toro and subsidiaries join the community of B Corporations
Following a two-and-a-half years evaluation by global organization B Lab, Viña Concha y Toro is proud to announce it has received B Corporation Certification, which recognizes companies that meet high standards of environmental management, governance and social performance.
The holding’s production subsidiaries Concha y Toro (Chile), Cono Sur winery (Chile) and Bodega Trivento (Argentina) also received this certification after meeting the requirements, joining Fetzer Vineyards (United States) which had already achieved B Corp certification in 2015.
“This certification is a major step forward in our commitment to environmental, social and corporate governance issues, which are a fundamental part of our Company’s strategic pillars of growth. Being part of this global movement is to embark on a path of constant improvement. Our goal is for our business to generate a positive impact and make a contribution to global challenges,” stated Eduardo Guilisasti, CEO of Viña Concha y Toro.
The Company has now become the largest wine company to join this global movement, which brings together nearly 4,000 companies around the world working to generate systemic change and build an equitable, inclusive and regenerative economic model for people and the planet.
“We are very happy to welcome Viña Concha y Toro’s B Corp Certification, which makes it the first Chilean B Corp to be listed on the stock exchange. This certification shows us that it is possible to combine high quality products and financial profitability together with taking on the commitment of continuous improvement in the Company’s social and environmental impact. It is a historic milestone for the B Movement in Chile and an example that we hope will be followed by other large companies in the wine industry and other productive sectors,” said Josefa Monge, Executive President of Sistema B (B Lab) in Chile.
Sustainability is a central pillar of Viña Concha y Toro’s strategy. Since 2011, the company has developed an integral sustainability roadmap and measured progress in six majors areas: clients, products, people, society, supply chain and the environment.
In the last decade, the Company has focused on two major global challenges: water and climate change. Regarding water, drip and technified irrigation systems have been implemented in 100% of the Company’s operations, ensuring responsible use of water. In addition, Viña Concha y Toro was the first winery in the world to start measuring its water footprint 10 years ago. These measurements have helped guide the actions taken to reduce its water footprint, which today is 50% lower than the global wine industry average.
In terms of climate change, since 2018 the Company has established emission reduction targets based on climate science and aimed at slowing down the increase in global temperature above 1.5°C, in line with international initiatives. Advances in the decarbonization of its energy matrix and implementation of nature-based solutions have played a key role in these reductions. The Company’s goal is to reduce its carbon emissions by 55% by 2030.
“Being part of the B Corp community is the result of a two-and-a-half year process of great internal collaboration and enthusiasm to work on the challenge of evaluating all our global operations. We have had great learnings and this knowledge, incorporated in our Positive Impact Strategy, will guide our future actions” said Valentina Lira, Viña Concha y Toro’s Sustainable Development Manager.
About Sistema B
B Corp Certification is led by B Lab (Sistema B), a non-profit organization that believes that governments, civil society organizations, social movements, citizens and businesses’ social responsibility, all together, are not enough to solve our current social and environmental problems. It promotes B Corps and other economic actors in Latin America in order to build a new economy, in which success and financial benefits include social and environmental well-being. All B Corps measure their social and environmental impact, and commit in a personal, institutional and legal way to make decisions taking into account the long term consequences of their actions in the community and the environment. They take pride and assume with responsibility their belonging to a global movement of companies that want to bring about change harnessing the power of the market to provide solutions to social and environmental problems. To date there are almost 4,000 B Corporations in more than 150 industries and 70 countries around the world.
More information at https://www.sistemab.org/en