Crimson Wine Group, Ltd. Sustainability Profile
Crimson Wine Group, Ltd., a prominent player in the fine wine industry, is headquartered in the United States, with significant operations across renowned wine regions. Founded in 2007, the company has established itself as a leader in producing high-quality wines, focusing on premium vineyards and exceptional terroirs. Crimson Wine Group is known for its diverse portfolio, which includes celebrated brands such as Pine Ridge Vineyards, Archery Summit, and Seghesio Family Vineyards. These offerings are distinguished by their commitment to sustainable practices and a deep respect for the land. With a strong market position, Crimson Wine Group has garnered accolades for its innovative winemaking techniques and exceptional vintages, solidifying its reputation among wine enthusiasts and collectors alike.
DitchCarbon Score
How does Crimson Wine Group, Ltd.'s carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Beverage Manufacturing industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Crimson Wine Group, Ltd.'s score of 34 is higher than 59% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Crimson Wine Group, Ltd.'s reported carbon emissions
In 2023, Crimson Wine Group, Ltd. reported total carbon emissions of approximately 8,700 kg CO2e, comprising 1,502 kg CO2e from Scope 1, 205 kg CO2e from Scope 2, and 6,993 kg CO2e from Scope 3 emissions. This data reflects a commitment to transparency in their environmental impact. The company has set ambitious reduction targets, aiming for a 15% reduction in Scope 1 emissions by 2033, focusing on renewable energy deployment and reduced fossil fuel usage. Additionally, they plan to achieve a 3% reduction in glass weight by 2025, which will contribute to lowering Scope 2 emissions. A further 10% reduction in Scope 1 emissions is targeted from 2021 to 2028, primarily through glass weight reduction and solar panel installations. Crimson Wine Group's long-term strategy includes a goal to eliminate 30% of their emissions between 2039 and 2043, followed by an additional 9% reduction in emissions from 2049 to 2050. These initiatives demonstrate the company's commitment to sustainability and climate action within the wine industry.
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| 2021 | 2023 | |
|---|---|---|
| Scope 1 | 1,203 | 0,000 |
| Scope 2 | 492 | 000 |
| Scope 3 | 5,473 | 0,000 |
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Crimson Wine Group, Ltd.'s Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Crimson Wine Group, Ltd. has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
