The Vita Coco Company Releases First Impact Report
12 Avril 2022 - 2:00PM
Today, The Vita Coco Company (NASDAQ: COCO) released its first-ever
annual Impact Report. The report covers the results of the
company’s sustainable and social impact programming from 2020-2021
and includes the company’s ambition to map its coconut carbon
footprint, from the farm all the way to retail and product
disposal, by the end of 2022.
“Today, as our company grows, so does our ability to partner and
grow with key people and organizations who help create a shared
community where everyone wins — from our growers around the world,
to our employees, to the small businesses and bodega owners who
stock our products,” Mike Kirban, the CEO of The Vita Coco Company
said. “I’m proud of the work we’ve done so far, and I can’t wait to
see how far we’ll go.”
The Impact Report details three pillars which together form the
company’s Environmental, Social and Governance framework. They
include protecting the planet’s natural resources, championing
health and wellness in society, and building thriving communities
within the company’s grower network and beyond.
The report describes the company’s plan to establish future
metrics for its ESG work so that it can track what it calls its
“Return on Impact.”
The report also details the work of The Vita Coco Project, the
company’s commitment to positively influence the lives of 1 million
people in coconut farming communities around the world. Since its
inception, The Vita Coco Project has:
- Built 30 classrooms in communities
where the company sources coconuts and other materials
- Planted more than 69,000 seedlings
to replace aging trees and promote biodiversity
- Trained 7,000 farmers in
regenerative and agronomic best practices
Taken together, this work measurably affected more than 30,000
people within the communities where the company sources coconuts
and other materials.
The company has also donated over 6.5 million meals and an
additional $2.1 million worth of in-kind products and financial
contributions to local communities.
The Vita Coco Company’s 2021 Impact Report also details the
company’s current workforce demographics and its ambition to build
a workforce that reflects the diverse identities of its
consumers.
In 2021, The Vita Coco Company incorporated as a Public Benefit
Corporation, which requires the company’s board of directors and
management to balance the impact of their decisions not only on
shareholders but also on the company’s other stakeholders and to
consider the social and environmental consequences of the company’s
decisions. The Vita Coco Company also recently became a Certified B
Corporation™. The report includes a breakdown of the company’s B
Impact Assessment™ score, which was reviewed by B Lab™ in
2020-21.
The full report is available on the company’s investor relations
website, https://investors.thevitacococompany.com/
ABOUT THE VITA COCO COMPANY
The Vita Coco Company was co-founded in 2004 by co-CEO Michael
Kirban and Ira Liran. Pioneers in the functional beverage category,
The Vita Coco Company’s brands include the leading coconut water,
Vita Coco; clean energy drink Runa; sustainable enhanced water,
Ever & Ever; and protein-infused water, PWR LIFT. With its
ability to harness the power of people and plants, and balance
purpose and profit, The Vita Coco Company has created a modern
beverage platform built for current and future generations.
The company is a B Corp™ and is incorporated as a Public Benefit
Corporation.
PRESS CONTACT
Tim Biba
Solebury Trout
tbiba@soleburytrout.com
+1 (203) 428-3222
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements, within
the meaning of the Private Securities Litigation Reform Act of
1995, including statements with respect to future plans for the
company’s ESG initiatives and commitments, workforce objectives and
the operation of business. We caution that these statements are not
guarantees of future performance. Actual results may differ
materially from those expressed or implied in the forward-looking
statements. Forward-looking statements involve a number of risks,
uncertainties or other factors beyond the control of the company.
These factors include, but are not limited to factors discussed
under the caption “Risk Factors” in our Annual Report on Form 10-K
for the fiscal year ended December 31, 2021 filed with the U.S.
Securities and Exchange Commission (“SEC”) on March 14, 2022, and
our other filings with the SEC as such factors may be updated from
time to time and which are accessible on the SEC’s website
at www.sec.gov and the Investor Relations page of our website
at investors.thevitacococompany.com. Any forward-looking statements
contained in this press release speak only as of the date hereof
and we disclaim any obligation or undertaking to update or revise
any forward-looking statements contained in this press release,
whether as a result of new information, future events or otherwise,
other than to the extent required by applicable law.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/79bbf503-3df3-4e12-af23-5ca40977ba49
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