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CRIPPS
Uncorking sustainability : ESG challenges and opportunities in wine .
Whether you speak to individuals , families or businesses , ESG ( Environmental , Social and Governance ) related issues will pop up . From climate change to social movements , these issues are crucial , with recent research showing 40 % of boards and 70 % of high net-worth families now place ESG at the top of their priority list .
So , how are winery businesses and their families responding to this ? By its nature , viticulture places low demands on water supply , is low intervention compared to other forms of agriculture and can have a positive effect on biodiversity . So that ’ s the ‘ E ’ taken care of , right ?
But what about the ‘ S ’ and the ‘ G ’? This is more tricky . Despite environmental benefits of viticulture , social and governance issues persist . Leadership can lack diversity and customer demographics are narrow . Small family-run wineries might resist formal governance , yet strong ESG benefits brands and mitigates risk . So , why the hesitation to jump on the ESG ( electric powered ) bandwagon ?
Many smaller businesses are simply happy as family enterprises , functioning robustly without the need for bureaucracy . Others looking to expand are ultra-realistic about the cost / reward ratio when juggling their priorities , especially when the trading environment remains so challenging . Also , some issues ( like the carbon footprint of glass in the industry ) are largely outside the control of individual businesses .
While ESG implementation has hurdles , its benefits outweigh them . Global threats like climate change and consumer shifts driven by social movements are here to stay . Strong ESG practices mitigate these risks , improve transparency and ultimately boost a company ’ s bottom line .
Many businesses are already on the ESG journey , with several embracing the gold standard of ‘ B Corp ’. For those just starting out on their journey , my advice is to keep things achievable . Assess what you ’ re doing now , find a sustainability champion and set achievable year-long goals with budgets . Sustainable ESG policies are about baby steps : it ’ s not about how long the journey takes , it ’ s about clarity on the route map and destination .
To discuss starting your ESG journey , please contact Victoria Symons at Cripps .
victoria . symons @ cripps . co . uk www . cripps . co . uk
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