ALBANY, NY — Guess Inc. has taken a step to ensure sustainable business practices and worker safety within its company. Working with New York State Comptroller Thomas P. DiNapoli, Guess will share its efforts to combat different risks including workplace safety and environmental risks in the supply chain.
Guess will publish “an initial sustainability report” by Dec. 31, 2015 which will include its efforts “regarding environmental, social and governance issues.” The agreement between Guess and DiNapoli requires the corporation to submit a follow up “comprehensive report” every two years, and updates in the interim as new issues come up, if required.
“Guess is taking steps that will not only help protect its investors, but also the men and women who make the products that carry its label,” DiNapoli said. “As a long-term investor, the New York State Common Retirement Fund advocates for its portfolio companies to adopt sustainable business practices that help protect long-term value. In Bangladesh, we’ve witnessed the devastating loss of life that can result when workplace safety is neglected.”
The agreement with Guess is the latest DiNapoli has reached, following similar ones with Dollar Tree and Dillard’s. In 2013, Best Buy and Bed Bath & Beyond agreed to report on workplace safety, human and worker rights, as well as environmental compliance. In 2012, furniture and bedding manufacturer Leggett & Platt agreed to create a Supplier Code of Conduct, which is used throughout their worldwide supply chain.
The New York State Retirement Fund owned 180,600 shares of Guess Inc. as of May 1, valued at $4.9 million.