Capri Holdings Ltd. is getting behind the environmental and social sustainability movement in a significant way, releasing its first groupwide corporate social responsibility strategy on the 50th anniversary of Earth Day.
The group’s report strengthens the initiatives that each of the company’s brands — which consist of Michael Kors, Jimmy Choo and Versace — have already been working on, and outlines the company’s global strategy to achieve measurable goals across a range of environmental and social sustainability issues. These include material sourcing, greenhouse gas emissions, water use, waste reduction, diversity and inclusion and philanthropic giving.
The firm’s corporate social responsibility strategy is divided into three areas:
- Our World — focused on actions across the company’s operations and supply chain, meant to significantly reduce its environmental impact.
- Our Community — fostering a supportive, healthy, diverse and inclusive workplace for all employees.
- Our Philanthropy — connecting the talents, energy and success of each of the company’s brands to those in need around the world.
The company pointed out that all its CSR goals and objectives support the United Nation’s 17 Sustainable Development Goals.
First, Capri Holdings has set targets to be 100 percent carbon neutral in its direct operations and to source 100 percent of energy for its owned and operated facilities from renewable sources by 2025. Building on its net pro carbon emissions commitment, and in an effort to deliver on the goals of the Paris Agreement, the company will also commit to set emissions reduction targets across its operations and supply chain with the Science Based Targets initiative by 2021.
Capri has been working toward several other key initiatives. These include that all plastic in packaging to be recyclable, compostable, recycled or reusable by 2025. In addition, it is working toward 100 percent of point-of-sale packaging materials to be recyclable or sustainably sourced by 2025. It is also partnering with key suppliers to reduce water use.
Other initiatives are traceability of its supply chain, and sourcing at least 95 percent of its leather from certified tanneries by 2025. The company is furthering diversity and inclusion within the organization, including through its new Global D&I Council. Supply chain empowerment programs focused on human rights and fair wages are to be implemented in line with the U.N. Framework for Corporate Action on Workplace Women’s Health and Empowerment by 2025.
The report highlights the company’s longstanding commitment to philanthropy, including the milestone achievement of delivering more than 19 million meals to children in hunger-stricken areas across the globe through the Michael Kors Watch Hunger Stop program. Now in its seventh year, Watch Hunger Stop supports the United Nations World Food Programme and its school meals program.
“We are proud of the actions our company is taking to drive positive environmental and social change within our organization and our world,” said John D. Idol, chairman and chief executive officer of Capri Holdings. “Early last year, soon after we created our global luxury fashion group, Capri Holdings, we assessed the sustainability efforts each of our brands was already undertaking, along with the core values shared by them. We also considered the responsibilities we collectively hold to the environment, to the communities in which we operate and to the people with whom we work. We recognize that as our company grows, so do our responsibilities, and welcome the opportunity to do more.
“We believe that sound environmental and social policies are both ethically correct and fiscally responsible. To that end, we are committed to improving the way we work in order to better the world in which we live,” added Idol.
Coinciding with the release of Capri’s corporate and social responsibility goals and objectives, Idol signed the United Nations Global Compact, the corporate sustainability initiative to support achievement of the Sustainable Development Goals. With the signing, Capri confirms its commitment to align its strategies and operations with universal principles on human rights, labor, the environment and anti-corruption, and its commitment to advance societal goals relating to sustainability.
Previously, Capri signed the U.N. Women’s Empowerment Principles, the Fashion Pact, the CEO Action for Diversity & Inclusion and the Open to All Pledge.
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