At the time of CVC’s investment, the Vivartia Group had in place several commendable social and environmental initiatives.
Additionally, since 2016 companies within the Vivartia Group reported their objectives and initiatives through their annual CSR reports that were prepared in alignment with the GRI standards.
Early on in the investment, CVC recognised the opportunity to enhance Vivartia Group’s approach to ESG through further integration of ESG into its broader business strategies. Within a short period of time, each of the largest Vivartia companies – namely DELTA, Barba Stathis, and Goody’s-Everest – engaged with a wide range of stakeholders to identify material topics for each business. In collaboration with CVC and an external advisor, they devised a robust governance structure and a comprehensive ESG strategy. Each business conducted a series of workshops with the management teams to develop focused strategies, complemented by a select set of KPIs. These indicators now enable the management teams, the group board, and shareholders to effectively monitor performance over time.
For us, CVC has come to be a valuable window to the world of ESG
Panayiota Tsifourdari Vivartia Group Corporate Affairs & ESG Director
Demonstrating a commitment to tackling climate change, all three Vivartia companies actively participated in CVC’s Greenhouse Gas Foundation
programme, collaborating with an external advisor to calculate their scope 1 and 2, emissions and estimate material scope 3 emissions in accordance with the GHG Protocol. As a result, these companies have become part of the inaugural cohort in CVC’s Climate Action Accelerator programme. This innovative programme aims to equip portfolio companies with the necessary tools to establish science-based emissions reduction targets, positioning Vivartia as a proactive contributor to global climate action. See page 35 for more detail on CVC’s climate action programmes.
The enhanced ESG approach, detailed in the updated ESG reports of each of DELTA, Barba Stathis, and Goody’s-Everest, showcases their dedication to sustainable practices. Aspiring to industry-leading standards and leveraging the expertise of CVC and its external advisors is helping Vivartia to undergo a remarkable transformation, reinforcing its position as a responsible corporate citizen in the eyes of stakeholders and society at large.