Sustainability is a generic term most commonly defined as the ability to endure. From a business perspective, we interpret sustainable development as development that meets the needs of the present without compromising the ability of future generations to meet their own needs. Sustainability is at the heart of everything we do at Treasury Wine Estates.
Wine has endured for centuries and our history dates back to the mid 1840s at Penfolds in South Australia and the 1876 founding of Beringer Vineyards in California, U.S.A. We currently are guardians of 11,000 hectares of land that produce our world class wines, we honour and protect these lands and are stewards of its heritage for future generations. Our people and our vineyards are a living library of remarkable viticulture.
Our approach to the management of social and environmental risks and opportunities is informed via open lines of communication and community engagement. We consult many and varied stakeholders including investors, employees, customers and consumers, non-government organisations, suppliers and commercial partners, the communities we operate in, regulators and governments in developing programs and actions to best represent all parties.
We look forward to sharing new initiatives and our performance on key issues with you at timely intervals. Our most recent performance on sustainability is consolidated within our 2013 Annual Report which you can find here.