Constellation Brands Publishes ESG Impact Report
Constellation Brands’ 2022 ESG Impact Report highlights notable progress made in its key ESG focus areas: serving as good stewards of the environment; enhancing social equity within its industry and communities; and promoting responsible beverage alcohol consumption.
Constellation Brands, Inc., a leading beverage alcohol company, published its inaugural ESG Impact Report – an evolution of the company’s Corporate Social Responsibility reports – highlighting established commitments and targets to positively impact the planet and its people, and progress made toward achieving them.
To enable Constellation to better meet stakeholder expectations regarding information provided on these important topics, and to better reflect the company’s ongoing efforts to address pressing environmental and societal needs that are important to its communities, consumers, and employees, this ESG Impact Report has been prepared with reference to the Sustainability Accounting Standards Board alcoholic beverages standard. The report also considers the recommendations of the Task Force on Climate-related Financial Disclosures in developing and disclosing Constellation’s approach to managing climate risk and opportunity and references the United Nations Sustainability Development Goals.
“While Constellation has a rich history demonstrating its commitment to doing well by doing good, we believe the social, economic, and environmental challenges of today’s world require greater accountability, which is why we’ve bolstered our ESG commitments as a core tenet of our long-term business strategy,” said Bill Newlands, Constellation Brands’ President and Chief Executive Officer. “We are extremely proud of the progress we’ve made to help our communities and planet thrive, and we are excited to share it with our stakeholders. I sincerely thank our Constellation team members, as well as our non-profit, industry, and community partners, and broader stakeholders, for their continued support and collaboration. Together, we are striving to create a future that is truly Worth Reaching For.”
Constellation’s ESG ambitions are grounded in the following three focus areas:
- Serving as good stewards of the environment – modeling water stewardship for the beverage alcohol industry; and reducing greenhouse gas (GHG) emissions through energy conservation and renewable energy initiatives.
- Enhancing social equity within the industry and local communities – championing the professional development and advancement of women in the beverage alcohol industry and local communities; enhancing economic development and prosperity in disadvantaged communities; and championing an inclusive culture characterized by diversity in background and thought, which reflects the consumers and communities that the company serves.
- Promoting responsible beverage alcohol consumption – ensuring the responsible promotion and marketing of the company’s products.
This report details notable progress that Constellation has made in these focus areas, including:
- Established and began implementing a three-year strategy and operating plans to restore approximately 1.1 billion gallons of water withdrawals from local watersheds, while improving accessibility and the quality of water for communities where the company operates between fiscal year 2023 and fiscal year 2025.
- Established and began implementing a three-year strategy and operating plans to reduce Scope 1 and Scope 2 GHG emissions by 15% by fiscal year 2025 (from a fiscal year 2020 baseline).
- Invested approximately $75 million in female-led or founded businesses through August 2022.
- Helped more than 3,500 women receive services and training to help advance their careers in partnership with Dress for Success in calendar year 2021.
- Committed to invest approximately $15 million in minority-owned businesses through August 2022.
- Helped more than 4,700 Hispanic families strengthen their financial security through financial empowerment and housing counseling programs in calendar year 2021 through support of UnidosUS.
- Increased female representation and overall ethnic diversity among Constellation’s U.S. salaried employee population to 43% and 22%, respectively, in fiscal year 2022 progressing toward the established goals of 50% and 30%, respectively, by fiscal year 2026.
- Supported the efforts of Responsibility.org to empower adults to make a lifetime of responsible alcohol choices as part of a balanced lifestyle and help eliminate drunk driving.
“As part of our commitment to environmental stewardship and our communities, we’ve embedded our ESG strategy into our beer, wine and spirits business operations across the globe and we’ve established ESG oversight at the highest levels of the organization,” said Mike McGrew, Constellation Brands’ Executive Vice President and Chief Communications, CSR, and Diversity Officer. “By establishing ESG as a strategic business operating imperative, we can better meet stakeholder expectations, reflect our values, and more directly help the communities that sustain our business to thrive in the process.”
Source: Constellation Brands