As fashion brands run to sign pacts with promises of eliminating single-use plastics and renewable energy, Puig has published its fifth annual sustainability report, announcing the brand’s progress and achievements to Puig’s own sustainability program’s 2020 goals.
The sustainability program, initiated in 2014, is a six-year plan with the aim of striking a better balance between environmental responsibilities and luxury business practices. “At Puig we are strongly committed to sustainability and we endeavor to reduce our environmental impact by implementing best business practices under the auspices of solid corporate governance, transparently demonstrating our performance and results in this report,” the company said in its 2018 report.
Having already exceeded most of the program’s objectives in 2017, Puig redesigned the “roadmap” for the final three years of the initiative with the same goals in mind. The amendment took Puig’s sustainability strategy a step further taking a cue from significant international environmental standards, such as the Paris Agreement on climate change and the UN Sustainable Development Goals.
Despite the redesign, Puig has managed to reach the goals set for 2020 to almost completion again. “Thanks to the efforts and cooperation of all parties we have managed to reach the goals we had set for 2020 almost in their entirety,” Puig said in the report.
The Puig Sustainability Program is comprised of five pillars including product stewardship; sustainable sourcing; responsible logistics; responsible manufacturing, and employees and facilities, each targeting activity to be addressed across the value chain of sustainability. This year ushered in the launch of Puig’s third phase of its sustainability program bringing sustainability to alignment with the company’s 2020 Strategic Business Plan.
“The luxury industry is undergoing continual transformation and in the coming years it will need to address several challenges,” the company said in its report, “Our desire is to capitalize on the continual development in order to implement the Puig sustainability values in the various activities the company carries out and in relations with stakeholders.”
Environmental management has been a focus since Puig’s initiation of its sustainable program. Tapping into a greater use of renewable energies and reduced consumption of raw materials and resources, Puig reports they have made significant progress in minimizing the carbon footprint. A successful initiative in 2018 was a reduction in Greenhouse Gas Emissions, offsetting 7,000 tons of CO2 to reduce the carbon footprint KPI by 5 percent. Puig also reported 91 percent of sustainable cardboard and zero waste to landfill.
For More WWD Business News: