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Corticeira Amorim wins World Finance Magazine Sustainability Award


Corticeira Amorim has won a World Finance Magazine Sustainability Award in the “Wine products industry” category. Distinguished for the second year running, the award recognises Corticeira Amorim’s sustainable development principles and practices implemented throughout its value chain, underpinning a vast portfolio of products and solutions with superior technical performance and unparalleled sustainability credentials.

Amorim’s cork stoppers are a paradigm example of the company’s sustainability commitment. They have a carbon balance of -309 gCO2eq for natural cork stoppers and -562 gCO2eq for sparkling wine stoppers, when considering the carbon sequestration of the cork oak forest. These results, obtained in recent studies conducted by EY, enable us to conclude that cork stoppers make a significant contribution to the wine industry’s overall decarbonisation. Given that Amorim annually produces 5.5 billion corks, its sustainability credentials have a worldwide impact.

António Rios de Amorim, Corticeira Amorim’s Chairman and CEO, states his enormous “satisfaction with the award, that testifies to our collective commitment to sustainability, in particular in our most representative business segment - cork stoppers”. He stresses that “we have to continue to grow, guaranteeing everyone’s safety and well-being, efficient management of natural resources, protection of the balance of ecosystems and the circularity of processes and the economy, as the world moves towards a sustainable development model and a more cohesive, conscious and prepared society, capable of facing future challenges with ambition, determination and tenacity”.

The Sustainability Awards are attributed to companies that have demonstrated a remarkable commitment to sustainable development. The World Finance magazine explains that the awards are granted to entities that have “made an extra effort to integrate financial, social and governance (ESG) values in their different areas of business”.

Referring to Corticeira Amorim, the World Finance emphasizes: “The company has been adjudged the winner for its longstanding commitment to environmental, social, governance and Socially Responsible Investors' reporting, alignment with the UN Sustainable Development Goals, responsible supply management, FSC certification, as well as ongoing commitment to R&D. The international jury has taken into consideration efforts on investment in sustainable forestry by preserving land and biodiversity with the cyclical harvesting of cork without damaging the trees, as well as looking after well - being of the workforces. “

“Corticeira Amorim has been recognized for its analysis of the environmental impacts of its products, comparing the life cycle of cork stoppers with those of aluminium screwcaps and plastic stoppers, which highlighted Corticeira Amorim effort to align its production processes with a natural environmental cycles and promotion of circular economy.”

Corticeira Amorim, the worlds’ largest cork processing group, that has been trading continuously since 1870, assumes the responsibility of its global leadership, and goes far beyond the optimisation of its processes and the reduction of the environmental impacts of its operations. Leading a naturally sustainable industry, the company promotes, enhances and ensures the viability of cork oak forests, that are important natural CO2 sinks, and regulate the hydrological cycle, protect against erosion and fires and harbour extremely important biodiversity. Cork harvesting helps preserve the vitality of the cork oak forests and fosters the associated economic, environmental and social development, allowing thousands of people to continue to live and work in arid and semi-arid areas.

All winners of the World Finance Sustainability awards are announced at and in the Summer 2020 print edition of World Finance magazine.