Recently, Viña Concha y Toro and its subsidiaries received B Corp certification. The certification is a sign of the company’s commitment to fair business practices and environmental sustainability. The certification is a sign of the company’s commitment to fair business practices and environmental sustainability.
Santiago, 23. April 2021. – After a two and a half year review by the global B Lab organization, Viña Concha y Toro is proud to have received B Corporation certification, a recognition for companies that meet the highest global standards of environmental management, corporate governance and social performance.
The production subsidiaries of Concha y Toro Holding (Chile), Cono Sur Winery (Chile) and Bodega Trivento (Argentina) also received this certification after meeting the required conditions, joining Fetzer Vineyards (USA), which had already received B Corp certification in 2015.
This certification is an important step in our commitment to environmental, social and governance issues that are fundamental to our strategic growth. Being part of this global movement means committing to a path of continuous improvement. Our goal is to have a positive impact with our company and contribute to solving global problems, says Eduardo Gilisasti, CEO of Viña Concha y Toro.
The company is the largest wine company to join this global movement, which brings together nearly 4,000 companies from around the world working to create systemic change and build an economic model that is just, inclusive and regenerative for people and the planet.
We are very happy that Viña Concha y Toro is a certified B Corp, the first Chilean B Corp to be listed on the stock exchange. This certification demonstrates the ability to combine high product quality and financial profitability with a commitment to continually improving the company’s social and environmental impact. This is a historic step for the B movement in Chile and an example that we hope other major companies in the wine industry and other manufacturing sectors will follow, said Josefa Monge, executive president of Sistema B (B Lab) in Chile.
Sustainability is a central element of Viña Concha y Toro’s strategy. Since 2011, the company has developed a comprehensive sustainability roadmap, assessing progress in six key areas: Customers, products, people, society, supply chain and environment.
Over the past decade, the company has focused on two major global themes: Water resources and climate change. Regarding water, 100% of the company’s sites have drip irrigation systems and techniques to ensure responsible water use. In addition, 10 years ago Viña Concha y Toro became the first winery in the world to begin measuring its water footprint. These measurements have led to actions to reduce the company’s water footprint, which is now 50% lower than the global wine industry average.
With regard to climate change, the company has set targets for emission reductions from 2018, which are based on climate science and aim to slow the global temperature increase to more than 1.5°C, in line with international initiatives. Advances in decarbonization of the energy matrix and the application of nature-based solutions have played a key role in these reductions. The company’s goal is to reduce carbon dioxide emissions by 55% by 2030.
Becoming part of the B-Corp community is the result of a two and a half year process in which we dedicated ourselves with a lot of internal cooperation and enthusiasm to the evaluation of all our global activities. We have gained a lot of experience and this knowledge, integrated into our positive impact strategy, will guide our future actions, says Valentina Lira, Head of Sustainability at Viña Concha y Toro.
About system B
The 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 socially responsible companies together are not enough to solve our current social and environmental problems. It encourages the development of B Corps and other economic actors in Latin America to build a new economy in which success and financial gain include social and environmental well-being. All B Corps measure their social and environmental impact and make personal, institutional and legal commitments to make decisions that take into account the long-term impact of their actions on society and the environment. They are proud and responsible members of a global movement of companies working to make a difference by harnessing the power of the market to solve social and environmental problems. Today there are almost 4,000 B-companies in more than 150 sectors and 70 countries around the world. For more information, see https://www.sistemab.org/en.