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Fine wine investment firm becomes 'carbon neutral plus'

Published:  28 September, 2021

Global investment and management company Cult Wines has achieved carbon neutral plus status, after both neutralising and significantly offsetting its carbon footprint.

Carbon neutral plus is awarded to businesses that offset more than 100% of their carbon emissions, following an assessment by the independent body Carbon Footprint.

The organisation was founded as a steerage group, helping firms like Cult Wines offset their C02 emissions and promote their sustainability credentials.

Cult Wines partnered with Carbon Footprint to identify its total emissions during the January 2020 to December 2020 assessment period.

Within the same period, Cult Wines tripled its 'carbon credit' by supporting sustainability projects in various regions, ultimately offsetting 475 carbon tonnes.

The offsetting projects included reforestation efforts in Kenya, building carbon-neutral cookstoves in India and solar-powered cooking devices in China, and delivering solar and wind power in the Philippines and Thailand, respectively.

“Now more than ever, the wine industry faces a critical moment in the fight against the climate crisis. The recent frost in France, and the fires in Napa, California and South Africa have demonstrated that climate change continues to impact vineyards and wine producers around the globe. Reversing carbon emissions and protecting the earth is imperative to the future of our industry and our planet,” said Tom Gearing, CEO and co-founder of Cult Wines.

He added: “Companies have the opportunity to combat environmental degradation and help sustain the earth for fine wine production, but we all must take action immediately.”