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Concha y Toro beefs up sustainability with fresh B Corp assessment
Viña Concha y Toro has achieved re-certification as a B Corporation following a fresh evaluation process after first receiving the award in 2021.
The certification, which recognises companies that meet high standards of environmental, governance and social performance, follows the producer being the first Chilean company listed on the stock exchange to obtain this certification.
The production subsidiaries that were recertified are Concha y Toro (Chile), Viña Cono Sur (Chile) and Bodega Trivento (Argentina), while Bonterra Organic Estates (United States) was recertified in 2021.
This year the group scored 93.9 points in the evaluation, which was 12.5 points higher than in 2021.
The assessment highlighted Viña Concha y Toro’s water management in the national drought complex, recognizing the efforts of the company’s Agricultural Management to manage these risks, ensuring water supply in all seasons and producing high quality grapes through technology, increased water storage capacity and optimized irrigation planning, among other measures.
In the case of water use in production plants and wineries, the company emphasised efficient consumption through the sanitisation of water, which is then returned to the water courses. According to the results of the B impact assessment, the highest performing areas were in the areas of governance, environment and customers, highlighting water management in the company’s vineyards, wineries and production plants.
This recertification is another step in the company’s Sustainability Strategy “Uncork a Better Future”, which seeks to generate positive impacts for its stakeholders.
Eduardo Guilisasti, CEO of Viña Concha y Toro, said: “Three years later, we are reaffirming our commitment to positive impact and reinforcing our transparency regarding our company’s sustainability management.
“The score obtained demonstrates our progress on the road to becoming a benchmark in building a sustainable business model and a better future.”
Net zero
The news comes as the firm announced in December last year at COP28 plans its fresh plans to now achieve net zero emissions by 2040 instead of 2050, due to its recent work on the issue.
That update came after an initial commitment by the producer in 2019 to a Science Based Target initiative (SBTi) to reduce its absolute Scope 1, 2 and 3 emissions by 55% by 2030, and reach net zero emissions by 2050.
The goal has been incorporated into its sustainability strategy, which is an SBTi-aligned decarbonisation programme necessary to avoid global warming above 1.5°C. In addition, the company has also signed up to the Business Ambition for 1.5°C and Race to Zero, which was born out of COP25.
In the previous five years to 2022, the firm has reduced its emissions by 35% with data for 2023 available next year. As a result of the findings, the company’s carbon footprint is 53% lower than the global industry average, it claims.
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