Social

Environmental, Economic and Social Impacts

Corticeira Amorim recently commissioned a study from the consultancy firm, EY, which aimed to assess the impact of its operations in the regions where it is present and in the Portuguese economy. The study calculated the direct, indirect and induced impacts, including the environmental impacts of its activity and the impacts of the ecosystem services associated to the cork oak forest, made possible by its activity. The report concluded that the total net value to society in general is higher than seven times higher than the direct value added by the business activity in Portugal. These results have reinforced Corticeira Amorim's commitment to maximise its value through the creation of jobs and opportunities, innovation and diversification of products and promotion of responsible forestry management and use of natural resources. The value created by Corticeira Amorim can also be gauged by its multiplier effect - each euro of Corticeira Amorim's production generates, in total, 2.17 euros in national production. This is only surpassed by the production multiplier effect of the energy and transport services sectors.

The study revealed that the creation of value in Corticeira Amorim's business can go far beyond the monetized information available. The company has several examples of projects that enhance its non-quantitative effects in terms of innovation, entrepreneurship and the environment. These actions have very important indirect impacts on the Portuguese economy and society.