Sustainability Initiatives and Commitment to Corporate Social Responsibility Drive Recognition
27th September 2021: – Cult Wines, the global leader in fine wine investment and collection management, today announced it has received a Carbon Neutral Plus Certification from Carbon Footprint, which verifies the company has not only neutralized, but significantly offset its carbon footprint by contributing to sustainability projects around the world. The recognition is an important step in the growing company’s mission to reduce its environmental impact and model global corporate citizenship.
Cult Wines partnered with Carbon Footprint to identify its emissions totalled 251 carbon tonnes 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 geographic 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 & Co-Founder of Cult Wines. “Companies have the opportunity to combat environmental degradation and help sustain the earth for fine wine production, but we all must take action immediately. Environmental and social responsibility are core to Cult Wines’ mission, and we are proud that this certification demonstrates our ongoing commitment to building a more sustainable world.”
Cult Wines’ environmental protection efforts are part of the company’s broader Corporate Social Responsibility (CSR) endeavours. The company recently implemented a robust CSR policy and announced updates to its Diversity, Equity, and Inclusion (DEI) practices. Cult Wines also plans to evaluate additional carbon reduction opportunities within packaging, transportation, and energy usage across its global corporate offices.
“Cult Wines has always led with a forward-looking vision, from reimagining the future of fine wine investment to the future of corporate citizenship,” said Patrick Thornton-Smith, CXO and CSR Lead for Cult Wines. “Our vision for corporate social responsibility includes an unceasing focus on ethical practices, environmental protection, diversity, and inclusion. We are thrilled to achieve a Carbon Neutral Plus Certification and will continue to enable important sustainability efforts in communities around the world. We plan to further reduce our footprint and bolster our DEI initiatives to exemplify what it means to be a responsible corporate citizen.”
ABOUT CULT WINES
Cult Wines, the world’s leading fine wine collection and investment management company, is setting a new industry standard. The award-winning company, which manages wine collections worth more than £190m, makes collecting and investing in fine wine as enjoyable and rewarding as the wine itself. Combining a love of fine wine and market-leading industry knowledge with the latest technology, Cult Wines analyses and unlocks the market for clients around the world. Wine collectors and investors alike choose Cult Wines not merely for the extensive financial expertise, but for the shared passion for fine wine, and access to likeminded wine lovers, renowned experts, exclusive events, and bespoke experiences. Headquartered in the UK, Cult Wines was founded in 2007 and has offices in Canada, China, Hong Kong, Singapore, and the US supporting clients in more than 70 countries. For more information, please visit www.wineinvestment.com or find us on LinkedIn, Twitter, Facebook, or Instagram