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Corticeira Amorim wins Best Raw Materials Sustainability - Europe 2020

Portug 1/9/2020

The award, attributed by Capital Finance International, highlights the company's pioneering attitude towards sustainable development.

Corticeira Amorim, the world leader of the cork industry, has been awarded the top prize in the category, “Best Raw Materials Sustainability - Europe 2020”, as part of the awards attributed by Capital Finance International (CFI.co). The renowned English magazine highlighted the company's pioneering attitude towards sustainable development, and underlined its commitment to conservation of cork oak forests. It also highlighted Corticeira Amorim’s dynamic approach to in-house and external innovation, that has made it possible to find new uses, uses and markets for cork.

The jury also praised Corticeira Amorim’s dedication to upholding best practices in terms of environmental, social and governance (ESG), while maintaining a high-level of profitability. CFI.co highlighted the wide range of applications of cork, from cork stoppers, architecture, to space exploration. The jury reiterated that cork is completely natural, always reusable, and is extracted cyclically without causing damage to the cork oak tree. The English magazine also highlighted the important role played by the cork tree, and its associated ecosystem in terms of climate regulation. They noted to a key reference for the cork industry: for each ton of cork produced, the cork oak forest can sequester up to 73 tons of CO2.

Corticeira Amorim’s Chairman and CEO, António Rios de Amorim, disclosed that “we are extremely proud to receive international recognition of Corticeira Amorim’s global strategic commitment to Sustainable Development. Especially our defence of cork and the cork oak forest. We work with a unique raw material and believe that it responds to the challenges of modern society, benefitting people, the planet and the sustained growth of organisations.”

Corticeira Amorim, the world’s largest cork processing group, operating continuously since 1870, assumes its world leadership and moves far beyond optimising its business processes and reducing the environmental impacts of its operations. Leading a naturally sustainable industry, it promotes, enhances and ensures the viability of cork oak forests, that are important natural CO2 sinks, harbour an important level of biodiversity, protect against soil erosion, regulate the hydrological cycle and constitute a barrier against forest fire. The cyclical extraction of cork upholds the vitality of the cork oak forests and fosters the associated economic, environmental and social development, allowing tens of thousands of people to continue to live and work in arid and semi-arid areas.