Well-known Chilean wine producer, Concha y Toro (CyT), have announced the publication of Latin America’s first Science Based Target (SBT). Supported by Edge’s Chilean team, CyT have committed to reduce emissions from their own operations (Scope 1 and 2) by 40% by 2030, alongside a pledge to cut emissions across their supply chain by 17% over that same period.
“We’re very excited to see Concha y Toro’s target formally accepted by the Science Based Target Initiative.” said Edge Chile General Manager, Michelle Senerman Finkelstein. “It marks the culmination of some very detailed analysis by our team and our colleagues in Sydney, and adds another sector to our work on SBTs.
It’s great to see a Chilean company take a regional leadership position on climate change, particularly given the significant challenges some of our major industries would face if global temperatures rose by more than 2 degrees Celsius. It also offers a great story that we can share with the world as hosts of this year’s UNFCCC talks.
We look forward to using this project as a springboard for working with more Chilean companies, and others across Latin America.”
From an Edge perspective, in the context of increasing expectations from investors and regulators around the identification and management of climate risks, it’s great to see another one of our clients align their carbon targets with climate science. We hope we’ll soon see more Australian companies follow suit, including some of our many high-profile wine producers.
UPDATE: we’ve just heard that CyT’s target has been accepted as being aligned with the new 1.5C requirement for SBTs. Well done CyT!