Constellations Brands: 7 commitments
Constellations Brands, an international producer and marketer of beer, wine and spirits highlighted its following commitments.
The company has operations in the United States, Mexico, New Zealand and Italy, with brands such as Corona Extra, Modelo Especial and the Robert Mondavi, Kim Crawford and Meiomi family of brands.
Its net sales were US$2.437 billion in the third quarter (ended Nov. 30) of its fiscal year, up 5% year-on-year.
Constellations Brands
These are its commitments:
The company established and began implementing a three-year strategy and operational plans to restore approximately 1.1 billion gallons of water withdrawn from local watersheds while improving water accessibility and quality for the communities in which the company operates between fiscal 2023 and 2025.
Constellations Brands established and began implementing a three-year strategy and operational plans to reduce Scope 1 and Scope 2 GHG emissions by 15% by fiscal 2025 (from a fiscal 2020 baseline).
To date, the company has invested approximately $75 million in women-led or women-founded businesses and approximately $15 million in minority-owned businesses through August 2022, progressing toward stated goals of investing $100 million in each by fiscal 2029 and 2031, respectively.
Financial literacy training
Helped more than 3,500 women receive services and training to advance their careers in partnership with Dress for Success and more than 4,700 Hispanic families strengthen their financial security through financial empowerment and housing counseling programs through UnidosUS by 2021.
Another commitment is to increase female representation and overall ethnic diversity among Constellation’s U.S. salaried employees to 43% and 22%, respectively, by fiscal 2022, moving toward established goals of 50 and 30%, respectively, by fiscal 2026.
Zero instances of non-compliance with industry or regulatory labeling and/or marketing codes by fiscal 2022.
Supporting Responsibility.org‘s efforts to empower adults to make responsible alcohol choices throughout life, as part of a balanced lifestyle, and to help eliminate drunk driving.
Investments
The company plans to invest in the following capacity expansion in Mexico that will provide the long-term flexibility needed to support the expected future growth of its portfolio of high-end Mexican beers.
As previously announced, total capital expenditures for the Beer Business are expected to be between $5.0 billion and $5.5 billion between fiscal 2023 and 2026, with the majority of the spending occurring in the first three years of that period.
The investment will support the addition of up to 30 million hectoliters of modular capacity and includes the construction of a new brewery in southeastern Mexico in the state of Veracruz, as well as continued modular capacity expansion, optimization and/or construction activities at the company’s existing sites in Nava and Obregon.
