Concha y Toro brings forward net zero emissions goal by 10 years

By James Bayley

Published: 05 December, 2023

Announced at COP28 in Dubai, Viña Concha y Toro has voluntarily committed itself to achieve net zero by 2040, rather than 2050 as called for by the Paris Agreement, after reducing its carbon emissions by 35% over the last five years.

In 2019 Concha y Toro committed to the initiative set by the Paris Agreement to reduce its absolute Scope 1, 2 and 3 emissions (direct and indirect) by 55% by 2030, and reach net zero emissions by 2050.

However, the company has revised its targets, slating 2040 as the year the company will have no net emissions, after a period of impressive decarbonisation.

Read more: Bulk and the path to Cop 28

The new goal, incorporated in the holding company's sustainability strategy ‘Uncork a Better Future’, is aligned with the Science Based Targets Initiative (SBTi) which outlines the level of decarbonisation necessary to avoid global warming above 1.5°C. 

The company, whose UK subsidiary is a Harpers Sustainability Charter signatory, reduced its emissions by 35% in five years to the end of 2022, the latest verified measurement available. Data for 2023 will be available next year.

According to the IWCA, Concha’s carbon footprint is 53% lower than the global industry average for a holding company.

“This performance allowed us to visualise that we can make a greater contribution to climate change mitigation”, said Valentina Lira, Viña Concha y Toro's sustainability manager.

“After five years of progress with SBT, we thought it was a good time to renew our commitment to reduce our emissions, with the aim of contributing to a more sustainable future. This anticipation of the goal is fully aligned with the company's strategy. As a B Company, our charter incorporates the goal of generating positive and regenerative impacts for our society and our planet.”

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