Constellation Brands Issues 2023 ESG Impact Report and Announces
Enhanced Water Withdrawal Restoration Target Benefitting Local
Communities
Constellation Brands, Inc. (NYSE: STZ), a leading beverage alcohol
company, today announced the release of its 2023 ESG Impact Report
and expanded target to restore a total of 5 billion gallons of its
water withdrawals back to local watersheds near the company’s
production facilities between its fiscal year 2023 and fiscal year
2025.
Exceeded previous water stewardship target ahead of
schedule, continues progress against all environmental
targets.Constellation achieved its original target to
restore approximately 1.1 billion gallons of water withdrawals from
local watersheds ahead of plan and is now targeting to restore an
incremental 4 billion gallons within the same timeframe, for a
total of 5 billion gallons of water withdrawals restored by fiscal
year 2025. Seeking to build resilience for this finite natural
resource in local communities near its operations and on behalf of
future generations, the company is partnering with local
authorities, community leaders, and water-focused NGOs on multiple
ongoing water infrastructure and restoration projects detailed in
the new report.
“Water is one of our planet’s most precious natural resources,
and a critical resource for our business. As such, we continue to
prioritize efforts to improve water availability and resilience for
communities where we operate, as we strive to ensure that we act in
a manner that is both good for the world and good for the future of
our business and stakeholders,” said Bill Newlands, Constellation
Brands’ President and Chief Executive Officer. “Our approach is
designed to create and protect value for our business and
neighbors, reflect our company values, and directly address
pressing environmental and societal needs.”
Earlier this year, Constellation established two new
environmental stewardship targets for packaging and waste –
pursuing a TRUE Certification for Zero Waste in key operating
facilities1 and significantly enhancing its use of circular
packaging across the company’s portfolio – both with a target date
of fiscal year 2025.
The company also continues its efforts to manage greenhouse gas
emissions, specifically by decreasing its dependence on
non-renewable energy sources through energy conservation and
renewable energy initiatives.
Focus on social initiatives closely aligned with
business objectives.Constellation continues to advance its
target to invest a total of $200 million to support female- and
minority-founded businesses within the beverage alcohol industry
over a 10-year period. With more than $98 million invested in 12
female- and minority-founded small businesses through August 2023,
Constellation seeks to help create the industry’s next generation
of brands aligned with evolving consumer preferences, further
bolstering the company’s product portfolio.
In addition, partnerships with organizations whose missions and
values align with those of Constellation’s consumers and employees,
such as Dress for Success, UnidosUS, and the National Restaurant
Association Educational Foundation, benefitted more than 18,000
individuals and families over the past two calendar years. Each of
these organizations works to help provide career-building
opportunities and pathways toward prosperity for underserved
members of local communities where the company operates. These
partnerships are discussed in more detail within the report.
“Our work related to social impact, providing access to
beneficial resources and meaningful opportunities for the
underserved, helps to create greater social equity which is key to
building strong, resilient, and thriving communities,” said Mike
McGrew, Constellation Brands’ Executive Vice President and Chief
Communications, CSR, and Diversity Officer. “When this happens, we
all win, as strong and thriving communities are essential to
supporting the long-term viability and success of our business,
local employees, and business partners. While we’re proud of the
progress made to date, we realize there is still much work to be
done, and we look forward to continued collaboration amongst our
dedicated team members, community allies, and other external
partners to make a meaningful, positive, and lasting
difference.”
Introduced significant governance
enhancements.After transitioning from a dual to a single
class, one share, one vote common stock structure in November 2022,
Constellation also initiated a comprehensive Board refreshment and
governance enhancement process, including electing two new Board
members with strong financial backgrounds, and engaging in a
process to identify a new independent Board Chair.
To learn more, you can access Constellation’s full 2023 ESG
Impact Report here.
1 Key operating facilities, for the purposes of this target,
consist of our major production facilities (i.e., our breweries in
Mexico and our U.S. wineries generating the vast majority of
waste).
FORWARD-LOOKING STATEMENTSThis news release
contains forward-looking statements. All statements other than
statements of historical fact are forward-looking statements. The
word “expect” and similar expressions are intended to identify
forward-looking statements, although not all forward-looking
statements contain such identifying words. These statements may
relate to our business and ESG strategies, future prospects, plans,
events, performance, targets, goals, or objectives, future
operations, future environmental, financial, or social metrics,
promises, or expected actions of third parties. All forward-looking
statements involve risks and uncertainties that could cause actual
results to differ materially from those set forth in, or implied
by, such forward-looking statements. No assurances can be given
that any of the events anticipated by the forward-looking
statements will transpire or occur.
The forward-looking statements are based on management’s current
expectations and should not be construed in any manner as a
guarantee that such results will in fact occur. All forward-looking
statements speak only as of the date of this news release and
Constellation Brands does not undertake any obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events, or otherwise.
In addition to risks and uncertainties associated with ordinary
business operations, the forward-looking statements contained in
this news release are subject to the risk, uncertainty, and
possible variance from our current expectations regarding: future
global economic conditions; market conditions; regulatory
conditions; unanticipated environmental liabilities and costs;
changes to governmental rules and regulations; the actions of
competitors; consumer expectations and preferences; and other
factors and uncertainties disclosed from time-to-time in
Constellation Brands’ filings with the Securities and Exchange
Commission, including its Annual Report on Form 10-K for the fiscal
year ended February 28, 2023 and its Quarterly Report on Form 10-Q
for the fiscal quarter ended August 31, 2023, which could cause
actual future performance to differ from current expectations.
ABOUT CONSTELLATION BRANDSConstellation Brands
(NYSE: STZ) is a leading international producer and marketer of
beer, wine, and spirits with operations in the U.S., Mexico, New
Zealand, and Italy. Our mission is to build brands that people love
because we believe elevating human connections is Worth Reaching
For. It’s worth our dedication, hard work, and calculated risks to
anticipate market trends and deliver more for our consumers,
shareholders, employees, and industry. This dedication is what has
driven us to become one of the fastest-growing, large CPG companies
in the U.S. at retail, and it drives our pursuit to deliver what’s
next.
Every day, people reach for our high-end, iconic imported beer
brands such as those in the Corona brand family like the flagship
Corona Extra, Modelo Especial and the flavorful lineup of Modelo
Cheladas, Pacifico, and Victoria; our fine wine and craft spirits
brands including The Prisoner Wine Company, Robert Mondavi Winery,
Casa Noble Tequila, and High West Whiskey; and our premium wine
brands such as Kim Crawford and Meiomi.
As an agriculture-based company, we have a long history of
operating sustainably and responsibly. Our ESG strategy is embedded
into our business and our work focuses on serving as good stewards
of the environment, enhancing social equity within our industry and
communities, and promoting responsible beverage alcohol
consumption. These commitments ground our aspirations beyond
driving the bottom line as we work to create a future that is truly
Worth Reaching For.
To learn more, visit www.cbrands.com and follow us
on X, Instagram, and LinkedIn.
A downloadable PDF copy of this news release can be found
here:
http://ml.globenewswire.com/Resource/Download/7552d268-a23e-4bdd-a800-2be1a06ca1e5
MEDIA CONTACTS |
INVESTOR RELATIONS CONTACTS |
Amy Martin 585-678-7141 /
amy.martin@cbrands.com Carissa Guzski 315-525-7362 /
carissa.guzski@cbrands.com |
Joseph Suarez 773-551-4397 /
joseph.suarez@cbrands.com Snehal Shah 847-385-4940 /
snehal.shah@cbrands.comDavid Paccapaniccia 585-282-7227 /
david.paccapaniccia@cbrands.com |
Constellation Brands (LSE:0REP)
Historical Stock Chart
From Nov 2024 to Dec 2024
Constellation Brands (LSE:0REP)
Historical Stock Chart
From Dec 2023 to Dec 2024