CORTICEIRA AMORIM publishes third Sustainability Report

CORTICEIRA AMORIM chairman & CEO António Amorim said the release of the report confirmed the company's strategic commitment to sustainable development.

"Our commitment to sustainable development is the best way to demonstrate responsible leadership in the cork industry," he said. CORTICEIRA AMORIM is the only company in the global cork sector to annually publish its results and outline its future plans in this area.

The release of the 2008 report follows the announcement that CORTICEIRA AMORIM has again been acknowledged for the quality of its sustainability reporting at the global Corporate Register Reporting Awards (CRRA). The CRRA ranked CORTICEIRA AMORIM'S 2007 Sustainability Report among the best in the world for its relevance to the understanding of sustainability issues in business.

This commendation was made at the same time as the company was recognised by The Drinks Business, a major UK drinks trade magazine. CORTICEIRA AMORIM was the only producer of bottle closures in the magazine's 'Top 50 Green List' - ranked 25 in the global drinks sector in terms of the extent to which companies influence the public on green issues.

As with its previous sustainability reports, the latest edition explains the company's best practice in sustainable cork manufacturing, highlights the major sustainability results achieved during 2008 and outlines the initiatives implemented by CORTICEIRA AMORIM during the year.

One of the major achievements is that the company's use of renewable energy has now reached 60 per cent of its energy requirements (up from 45 per cent in 2006). CORTICEIRA AMORIM has also reduced its CO₂ emissions by a further 4.5 per cent, following a 3.4 per cent reduction in 2007. Mr Amorim said the reduction of greenhouse gas emissions reinforced the environmental advantages of using natural cork products. He said this was particularly relevant in the biggest market for cork - the wine industry.
In 2008 CORTICEIRA AMORIM released the results of an independent life cycle analysis of wine closures that clearly demonstrated that natural cork is the best wine closure in terms of environmental performance.

Some of the initiatives undertaken by CORTICEIRA AMORIM last year and explained in the 2008 Sustainability Report include:

• Green Cork - the launch of a cork stopper recycling programme in Portugal that has collected 12 tonnes of used corks (more than 3 million stoppers) in just six months. Green Cork uses existing distribution networks to ensure the collection process doesn't increase CO₂ emissions or incur additional costs. Funds raised are financing nature preservation.
• Earth Condominium - CORTICEIRA AMORIM became the first commercial partner of the Earth Condominium. This is a voluntary organisation that aims to look after the "common elements" of the earth - atmosphere, hydrosphere and biodiversity - in an integrated global manner.
• European Business & Biodiversity Initiative - in 2008 CORTICEIRA AMORIM implemented measures under the scope of the European Business & Biodiversity Initiative. This included awarding the biggest prize ever allocated for research on "the cork oak and associated biodiversity" as well as financing a technical advisory service for forestry producers.
• Save Miguel campaign - CORTICEIRA AMORIM designed and implemented an innovative campaign titled Save Miguel (www.savemiguel.com) appealing for the conservation of cork oak forests and promoting the environmental qualities of natural cork products. In just three months, the online video content associated with the campaign was viewed more than 450,000 times.
• Natural Choice Programme - the launch of the Natural Choice Programme provided a single structure for all of CORTICEIRA AMORIM's sustainability policies and practices. The programme is designed to raise environmental awareness among employees and society in general and to encourage environmentally friendly practices.

The 2008 Sustainability Report also reviews CORTICEIRA AMORIM's commitment to innovation - highlighting the application for four new patents and the launch of new products. Other details include improvements in occupational health and safety and increases in employee training and education.