Constellation Brands Bolsters Commitment to Water Stewardship Through $700,000 Contribution to the Nature Conservancy to Help Restore Watersheds for Future Generations
Constellation Brands’ donation supports The Nature Conservancy’s Global Resilient Watersheds program and innovative dynamic water management programs, demonstrating the company’s broader ESG commitment to water replenishment and sustainability.
VICTOR, N.Y., Aug. 24, 2022 (GLOBE NEWSWIRE) -- Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading beverage alcohol company, announced today a two-year commitment of $700,000 in total contributions to The Nature Conservancy (TNC), which describes itself as “one of the most effective and efficient environmental organizations in the world” with a mission to conserve the lands and waters on which all life depends. This contribution is partly intended to benefit watersheds in California communities where Constellation Brands operates, contributing to the company’s water replenishment targets first announced in April 2022.
$200,000 of the total amount was donated in February 2022 and will be used to support TNC’s broader Global Resilient Watersheds program, which is focused on making watershed health a priority by investing in nature-based solutions – such as forest protection, regenerative agricultural practices, wetland restoration, and natural vegetation corridors along waterways – and aims to restore watershed health and revitalize degraded freshwater systems around the world.
The remaining $500,000 donation will be leveraged over two years in support of TNC’s innovative dynamic water management programs in California. Drawing on two nature-based opportunities, the dynamic water management programs in California target the San Joaquin Valley and the Stockton/Sacramento watersheds – both located in communities where a number of Constellation’s winery facilities and operations reside. These programs are designed to bring to life important proof of concept strategies for rebalancing water demand for people and nature that in turn may be implemented on a broader scale to seek to address water challenges across the State of California and elsewhere.
In addition to helping improve watershed health for the broader community, nature-based solutions implemented through the dynamic water management programs are expected to provide volumetric benefits toward Constellation’s water replenishment goals. Between Fiscal Year 2023 and Fiscal Year 2025, Constellation is targeting to restore approximately 1.1 billion gallons of water withdrawals from watersheds, while improving accessibility and quality of water for communities where the company operates. To achieve this target, Constellation developed a strategy focused on water efficiency, watershed restoration, and water accessibility and quality. More information about Constellation’s water stewardship strategy and efforts can be found on the company’s website at www.cbrands.com under the Sustainability section.
“We recognize access to clean water is a human right, and as a community member it is our responsibility to help ensure the resiliency of this resource in the areas where we live and work for generations to come,” said Mike McGrew, Constellation Brands’ Executive Vice President and Chief Communications, CSR, and Diversity Officer. “Collaborating with community members and supporting organizations like TNC to determine how we can collectively protect and restore water sources is a key component of our overall water stewardship strategy.”
“California's San Joaquin Valley is a center of agriculture not only for the United States, but the world," said Rodd Kelsey, The Nature Conservancy’s Associate Director of the Water Program in California. "The Nature Conservancy’s work with partners like Constellation to test new approaches to dynamic water management is essential to seeking to ensure that sustainable agriculture can thrive, communities have clean drinking water, and natural systems can be restored.”
This news release contains forward-looking statements. All statements other than statements of historical fact are forward-looking statements. The word “expect” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These statements may relate to our business and ESG strategies, future plans, events, performance, targets, goals, or objectives, future operations, future environmental, financial, or social metrics, or expected actions of third parties. All forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those set forth in, or implied by, such forward-looking statements. No assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur.
The forward-looking statements are based on management's current expectations and should not be construed in any manner as a guarantee that such results will in fact occur. All forward-looking statements speak only as of the date of this news release and Constellation Brands does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
In addition to risks and uncertainties associated with ordinary business operations, the forward-looking statements contained in this news release are subject to the risk, uncertainty, and possible variance from our current expectations regarding: future global economic conditions; market conditions; regulatory conditions; unanticipated environmental liabilities and costs; changes to governmental rules and regulations; the actions of competitors; consumer expectations and preferences; and other factors and uncertainties disclosed from time-to-time in Constellation Brands’ filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended February 28, 2022, its Quarterly Report on Form 10-Q for the fiscal quarter ended May 31, 2022, and its Registration Statement on Form S-4, as amended from time to time, which could cause actual future performance to differ from current expectations.
ABOUT CONSTELLATION BRANDS
At Constellation Brands (NYSE: STZ and STZ.B), our mission is to build brands that people love because we believe sharing a toast, unwinding after a day, celebrating milestones, and helping people connect, are Worth Reaching For. It’s worth our dedication, hard work, and the bold calculated risks we take to deliver more for our consumers, trade partners, shareholders, and communities in which we live and work. It’s what has made us one of the fastest-growing large CPG companies in the U.S. at retail, and it drives our pursuit to deliver what’s next.
Today, we are a leading international producer and marketer of beer, wine, and spirits with operations in the U.S., Mexico, New Zealand, and Italy. Every day, people reach for our high-end, iconic imported beer brands such as Corona Extra, Corona Light, Corona Premier, Modelo Especial, Modelo Negra, and Pacifico, our fine wine and craft spirits brands, including The Prisoner Wine Company, Robert Mondavi Winery, Casa Noble Tequila, and High West Whiskey, and our premium wine brands such as Meiomi, and Kim Crawford.
But we won’t stop here. Our visionary leadership team and passionate employees from barrel room to boardroom are reaching for the next level, to explore the boundaries of the beverage alcohol industry and beyond. Join us in discovering what’s Worth Reaching For.
ABOUT THE NATURE CONSERVANCY
The Nature Conservancy is a global conservation organization dedicated to conserving the lands and waters on which all life depends. Guided by science, we create innovative, on-the-ground solutions to our world's toughest challenges so that nature and people can thrive together. We are tackling climate change, conserving lands, waters and oceans at an unprecedented scale, providing food and water sustainably and helping make cities more sustainable. Working in 76 countries and territories: 37 by direct conservation impact and 39 through partners, we use a collaborative approach that engages local communities, governments, the private sector, and other partners.
|MEDIA CONTACTS||INVESTOR RELATIONS CONTACTS|
|Mike McGrew 773-251-4934 / email@example.com
Amy Martin 585-678-7141 / firstname.lastname@example.org
|Joseph Suarez 773-551-4397 / email@example.com|
A downloadable PDF copy of this news release can be found here. http://ml.globenewswire.com/Resource/Download/a86a874c-e85f-491f-bf51-36d10afe4db1
Released August 24, 2022