Climate Change Data

Environmental Metrics

ESG Focus Areas

• Energy Efficiency
• Biodiversity
• Sustainable Development
• Environmental Sustainability

Environmental Achievements

• Energy savings of 491000 Kw/year, resulting in a reduction of 238 tonnes/year in CO2 emissions at Amorim Cork Composites.
• 60% of CORTICEIRA AMORIM’s energy needs are met by biomass (CO2 emission neutral).

Social Achievements

• Amorim Cork Italia involved in humanitarian project “Need You Onlus – Wine for Life”, donating corks for 1500 bottles of wine.
• Quinta Nova joins “Ladies of Wine” project, donating proceeds to a Food Bank.
• Employee competition "Less Energy, More Environment" promoting sustainable development ideas.

Governance Achievements

• CORTICEIRA AMORIM’s Sustainability Report nominated for the Corporate Register Reporting Awards (CRRA) for the third consecutive year.

Climate Goals & Targets

Environmental Challenges

• Reducing energy consumption and CO2 emissions.

Mitigation Strategies

• Implementing energy efficiency measures at Amorim Cork Composites, focusing on reducing compressed air pressure, acquiring efficient compressors, and eliminating leaks.

Supply Chain Management

Climate-Related Risks & Opportunities

Awards & Recognition

• Energy Efficiency prize (Amorim Cork Composites)
• Best Report, Relevance & Materiality and Openness & Honesty categories (CORTICEIRA AMORIM’s Sustainability Report)

Environmental Metrics

ESG Focus Areas

• Sustainability
• Innovation
• Circular Economy
• Forestry
• Employee Well-being

Environmental Achievements

• 70% of the company’s energy needs met by biomass
• FSC certification (Forest Stewardship Council)
• Negative carbon footprint
• Cork collection and recycling campaign resulting in planting of over 828,000 trees
• Development of sustainable products (Wise by Amorim with negative carbon footprint)

Social Achievements

• Improved health and safety at work indicators across all business units
• Architects @Amorim initiative bringing together 150 architects from 27 countries
• Caritas Action support
• Gender Equality Plan launched

Governance Achievements

• Implementation of SAP software across Portuguese and Spanish units
• Strengthened corporate governance model with clear separation of management and supervisory bodies

Climate Goals & Targets

Environmental Challenges

• Reduction in orders from downstream units due to reduced stocks, increased efficiency, or market reductions
• Sharp rise in raw material costs
• Slowdown in the construction sector
• Decline in wine consumption in traditional markets
• Exchange rate volatility

Mitigation Strategies

• Cost controls and structural adjustments to adapt to reduced activity
• Strategic investments in production capacity, modernization, and digital transformation
• Focus on new product development and market expansion
• Hedging policy against exchange rate risk
• Development of higher value-added products

Supply Chain Management

Responsible Procurement

• Sustainable sourcing of cork
• Partnerships with forest producers

Climate-Related Risks & Opportunities

Physical Risks

• Severe droughts affecting cork oak forests

Transition Risks

• Changes in consumer preferences for wine packaging

Opportunities

• Increased demand for sustainable products
• Development of energy-efficient products

Reporting Standards

Frameworks Used: GRI, UNGC

Certifications: FSC, ISO 9001, ISO 14001, ISO 45001, ISO 50001, Blue Angel

Third-party Assurance: Ernst & Young Audit & Associados

UN Sustainable Development Goals

• SDG 7 (Affordable and Clean Energy)
• SDG 13 (Climate Action)
• SDG 15 (Life on Land)
• SDG 8 (Decent Work and Economic Growth)
• SDG 17 (Partnerships for the Goals)

Initiatives contribute to these goals through sustainable practices, renewable energy use, forest conservation, job creation, and collaborations.

Sustainable Products & Innovation

• Wise by Amorim
• Helix twist-to-open stopper
• NDtech stoppers

Awards & Recognition

• Innovation Award for Architecture + Construction at BAU
• Corporate Award from the Luso American Chamber of Commerce

Environmental Metrics

ESG Focus Areas

• Biodiversity
• Climate Change
• Sustainability
• Circular Economy
• Social Responsibility
• Employee Well-being
• Governance

Environmental Achievements

• Joined Act4Nature Portugal to protect biodiversity.
• Developed Naturity and Xpür, ecological anti-TCA technologies.
• Commissioned life cycle assessments showing negative carbon balance for most products.
• Issued €40 million in green bonds for sustainable investments.
• Cork stoppers with a negative carbon balance (-390g CO2eq for still wines, -562g CO2eq for sparkling wines).

Social Achievements

• Celebrated 150 years of activity with employee-focused initiatives.
• Published "Traços de Gente" (Traces of People) book and exhibition honoring employees.
• Donated medical equipment and provided support during the COVID-19 pandemic.
• Gave a special bonus of €1000 to all employees.
• Amorim Cork Flooring received Investors in People accreditation.

Governance Achievements

• Approved a renewed Code of Business Ethics and Professional Conduct.
• Implemented MES/SAP technologies in manufacturing units.
• Published Equality Plan 2021.

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic impacting global economy and business activity.
• Supply chain disruptions.
• Reduced demand in certain markets (sparkling wine, natural cork stoppers).
• Exchange rate volatility.
• Climate change impacting cork oak forests.

Mitigation Strategies

• Implemented a rigorous Contingency Plan across all units.
• Adapted to remote working and digital trading.
• Developed Naturity and Xpür technologies to improve product quality.
• Focused on sustainability to enhance product appeal.
• Implemented Forestry Intervention Project to improve cork oak forests.

Supply Chain Management

Responsible Procurement

• Sustainable sourcing of cork.

Climate-Related Risks & Opportunities

Physical Risks

• Droughts
• Forest fires

Transition Risks

• Changes in consumer preferences
• Competition from alternative closures

Opportunities

• Increased demand for sustainable products.

Sustainable Products & Innovation

• Amorim WISE flooring solutions
• Naturity and Xpür technologies
• Cork Pure Signature collection

Awards & Recognition

• World Finance magazine's Sustainability Awards
• Capital Finance International's Best Raw Materials Sustainability - Europe 2020 award
• Compasso d'Oro honorable mention for The Cork Book

Environmental Metrics

ESG Focus Areas

• Gender Equality
• Diversity and Inclusion

Social Achievements

• Created an Executive Group for Gender Equality with gender parity.
• Launched an internal awareness campaign, "Talent has no Gender", addressing gender stereotypes and biases.
• Distributed a brochure on the Code of Ethics and Professional Conduct, focusing on gender and non-discrimination.
• Included gender equality statistics in the Sustainability Report.
• Established a specific analysis grid for professional development, recognizing male and female employee competencies equally.
• Implemented a whistleblowing procedure for reporting harassment and other inappropriate behavior.
• Implemented a specific, voluntary teleworking scheme for roles which permit this.

Governance Achievements

• Included principles of gender equality and non-discrimination in the Code of Ethics and Professional Conduct.
• Established a procedure for complaints concerning discrimination and/or harassment at work.

Climate Goals & Targets

Environmental Challenges

• Underrepresentation of women in management positions.
• Low overall percentage of women employees (around 25%).
• Historical gender stereotypes in the industry.

Mitigation Strategies

• Created an Executive Group for Gender Equality to propose objectives and monitor the Equality Plan.
• Implemented measures to increase the number of women in management positions and as employees.
• Launched awareness campaigns and training programs to address gender bias.
• Established policies for equal pay and opportunities.
• Promoted internal gender desegregation and a better balance between the number of women and men in the company.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI

Environmental Metrics

ESG Focus Areas

• Climate Change
• Circular Economy
• Biodiversity
• Cork Oak Forests
• Employee Well-being
• Responsible Supply Chain
• Governance

Environmental Achievements

• Increased renewable energy use to 77%
• Improved energy efficiency by 2.8%
• Reduced water consumption intensity by 6.9%
• Avoided 81,442 tCO2eq emissions
• 89% waste recovery rate (non-cork)
• 1,052 t recycled cork

Social Achievements

• Increased employee benefits (health plan coverage, variable remuneration)
• Implemented SA 8000 Standard, covering >50% of workers
• New 2023 Equality Plan
• 91% of employees received training

Governance Achievements

• Strengthened governance, engagement, and transparency model
• Aligned sustainability report with GRI 3 standards, CSRD, and EU Taxonomy
• Contracted two new Green Commercial Paper Programmes

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions
• Increased absenteeism rate (6.4%)
• Reduction in cork powder availability for energy

Mitigation Strategies

• Developed alternative sourcing strategies
• Launched water reuse project
• Implemented energy efficiency measures (saving 50,000 GJ)
• Investing in new, more efficient boilers
• Action plan to address increased absenteeism

Supply Chain Management

Supplier Audits: 100% of non-cork suppliers covered with supplier evaluation programme

Responsible Procurement

• Supplier evaluation and selection procedure
• Purchasing Policy and Code of Ethics and Conduct for Suppliers
• Preference for suppliers adopting good ESG practices

Climate-Related Risks & Opportunities

Physical Risks

• Forest fires
• Water stress

Transition Risks

• Regulatory changes
• Market shifts

Opportunities

• Development of energy-efficient products
• Carbon sequestration through cork oak forests

Reporting Standards

Frameworks Used: GRI Standards

Certifications: ISO 14001, ISO 45001, SA 8000, FSC®

Third-party Assurance: ERNST & YOUNG AUDIT & ASSOCIADOS - SROC, S.A.

UN Sustainable Development Goals

• SDG 7
• SDG 8
• SDG 9
• SDG 11
• SDG 12
• SDG 13
• SDG 15
• SDG 17
• SDG 3
• SDG 4
• SDG 5
• SDG 6

The Sustainable by Nature programme aligns with the UN SDGs through various initiatives.

Sustainable Products & Innovation

• Amorim Wise Cork Inspire 700 flooring
• Go4cork Blend with Nike Grind underlay
• Cork components in Mobilize electric cars
• Cork-based floats for solar park

Awards & Recognition

• CDP Leadership (A-/A)
• EcoVadis Gold
• Sustainalytics Low Risk
• MSCI Leader (AA)

Environmental Metrics

ESG Focus Areas

• Environmental Sustainability
• Social Responsibility
• Governance

Environmental Achievements

• 9.1% reduction in energy consumption
• Increased to 68.3% in the use of controlled renewable energy
• 8.8% reduction in CO2 emissions
• 88.7% of materials used are renewable
• 87.2% waste recovery rate (non-cork)
• 11,693 t industrial waste produced (‑20.5% compared to 2022)
• 915 t recycled cork (equivalent to 203.3 million cork stoppers)

Social Achievements

• Implemented a rigorous occupational safety program
• Plan to promote equality, diversity and inclusion
• Launched the Y Programme for young employees
• Ranked third among the 20 best companies to work for in Portugal (Randstad’s Employer Brand Research 2023)

Governance Achievements

• Strengthened governance model, increasing independence and transparency
• Broadened internal regulations on ethics and conduct

Climate Goals & Targets

Environmental Challenges

• Shortage of skilled labor
• Accidents at work
• Development of alternative stoppers
• Supply chain and logistics disruptions

Mitigation Strategies

• Rigorous occupational safety program
• Investment in training and development
• Investment in and monitoring of cork stopper quality
• Communication campaigns to promote cork
• Investment in R&D for new stopper solutions
• Logistical model development
• Diversification of transportation and logistical suppliers

Supply Chain Management

Supplier Audits: 100% of non-cork suppliers covered by a supplier evaluation programme; annual audit programme for selected suppliers.

Responsible Procurement

• Supplier evaluation programme
• Code of Ethics and Conduct for Suppliers
• ESG financing line for cork suppliers

Climate-Related Risks & Opportunities

Physical Risks

• Forest fires
• Water stress

Transition Risks

• Development of alternative stoppers

Opportunities

• Carbon sequestration from cork oak forests
• Development of energy-efficient products

Reporting Standards

Frameworks Used: GRI Standards

Certifications: FSC, ISO 14001, ISO 45001, ISO 50001, SA 8000

Third-party Assurance: ERNST & YOUNG AUDIT & ASSOCIADOS – SROC, S.A.

UN Sustainable Development Goals

• SDG 6
• SDG 7
• SDG 8
• SDG 9
• SDG 11
• SDG 12
• SDG 13
• SDG 15
• SDG 17

The Sustainable by Nature programme aligns with the UN SDGs.

Sustainable Products & Innovation

• Cork stoppers
• Insulation products
• Floor and wall coverings
• Composite cork products

Awards & Recognition

• Gold rating from EcoVadis
• Low risk rating from Sustainalytics
• Leader rating from MSCI