Issued by Constellation Brands
Constellation Brands exceeds water withdrawal restoration target, shares environmental stewardship & social impact commitment updates in 2023 ESG Impact Report.
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. Seeking to build resilience for this finite natural resource, the company is partnering with local authorities, community leaders, and water-focused NGOs on ongoing water infrastructure and restoration projects.
Constellation also established two new environmental stewardship targets with a target date of fiscal year 2025:
“Water is one of our planet’s most precious natural resources, and a critical resource for our business. We continue to prioritize efforts to improve water availability and resilience for communities where we operate, while striving 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.”
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 $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.
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.
“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.”
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.
Visit the 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).
ABOUT CONSTELLATION BRANDS
Constellation 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.