Viña Concha y Toro recently published its ambitious greenhouse gas emission reduction targets approved by the Science-Based Targets Initiative (SBTi), becoming the first Latin American to have goals aligned with the objective of keeping global warming below 2,0 ° C.
This way, the company has committed to reducing the total emissions of their own operations in 40% and indirect emissions from its supply chain in 17% by year 2030, in regards to year 2017.
In order to set these new reduction targets, the company worked with sustainability experts, consultancy Edge Chile, utilizing international science based methodologies to estimate the CO2 reductions aligned to the decarbonization required to avoid that global temperature increases over 2.0ºC. This limit of 2.0ºC was defined by the Intergovernmental Panel of Experts on Climate Change (IPCC), and which guided 195 worldwide governments to agree on preventing an increase over this figure. The methodology will soon be updated to a goal of avoiding temperatures increasing beyond 1.5ºC according to the latest IPCC reports.
With this publication, Concha y Toro ratifies its pioneering spirit in working towards more sustainable practices, understanding the risks posed by climate change and evidencing its leadership and serious commitment in this area. Additionally, Concha y Toro wants to show that it is possible for companies to work on this ambitious goal while still driving business growth.
Having science-based objectives allows companies to follow a definite path towards a more sustainable future, specifying how much and how fast they need to reduce their greenhouse gas emissions.
SCIENCE BASED TARGETS: CALL TO ACTION
Science Based Targets (SBTi) is a joint initiative with CDP, the United Nations Global Compact, the World Resources Institute (WRI) and WWF, which invites companies to commit themselves to establishing corporate objectives to reduce greenhouse gases, that help effectively reduce climate change.