ESG news and archive

Comprehensive reporting on sustainability is or will become mandatory: Here's what you need to know about the Corporate Sustainability Reporting Directive (CSRD)

“Traditionally, financial reports have been the main focus of corporate reporting,” explains fashion professional Melissa Wijngaarden. Many companies compile annual reports that recount their activities over the last year. An integral part of this report is the financial statements, which summarize the company's financial situation. This allows...

Business

Neiman Marcus Group ahead of several targets according to third ESG report

Neiman Marcus Group (NMG) announced it had reached several key milestones ahead of its 2025 targets in its latest Environmental, Social, and Governance (ESG) report. In the third ESG report from the US retail group, the company outlined the progress it made in fiscal year 2023 while highlighting how it aims to continue to revolutionize the...

Business

Asos reportedly scraps diversity bonuses for directors

E-commerce giant Asos is understood to have shelved diversity targets as part of its directors bonus scheme as pressure to hit financial ambitions mounts amid an ongoing sales slump. It is this mission that the annual executive bonus will now be primarily based around, according to The Telegraph, which initially reported the news, as well as...

Business

AEO secures ESG goals, expands on commitments

American Eagle Outfitters (AEO) has published an update on its environmental and governance performance in what is its second report on the topic, through which it is striving towards its ‘Build a Better World’ strategy. Among the achievements noted in the report, AEO said that it had reduced water usage per pair of jeans produced by 38 percent...

BusinessFeatured

Decathlon, the financial implications of its Transition Plan

Decathlon, the French sports and leisure multinational retailer, is carrying out an in-depth overhaul of its operations. Its ambitious ‘Transition Plan’ aims to ensure a "more profitable, more digital, more environmental" approach. The Group has significantly revised its positioning by streamlining its product portfolio. It plans to remove...

BusinessFeatured

Gap, Levi Strauss, Victoria’s Secret among brands failing to tie exec pay with sustainability

New research by financial think tank Planet Tracker reveals that many of the world's largest textile companies are failing to link executive pay to environmental, social, and governance (ESG) performance, a key driver of credible action. Planet Tracker's Textiles Compensation report analysed 30 top textile brands and finds that over half of...

Business

How transparency can mitigate environmental and human rights risks

Blockchain start-up Retraced was founded with the aim to make global production processes more transparent, also for the textile and garment industry. The company recently shared highlights of the year 2022, among them closing its second funding round and raising 6.5 million euros, winning three awards, expanding its team and having its platform...

Business

Vestiaire Collective secures 75-million-euro sustainability-linked revolving credit facility

Luxury fashion resale platform Vestiaire Collective has signed a 75-million-euro sustainability-linked revolving credit facility (RCF) from Crédit Agricole CIB, Société Générale, HSBC Continental Europe, Bank of America and Goldman Sachs. The facility has an initial term of three years, which can be extended by two years. While Crédit Agricole...

RetailFeatured

According to the IADS, department stores must strengthen their environmental commitments

As they become more aware of climate issues, fashion retailers have undertaken a series of initiatives in recent years to help improve the situation. These are part of their Corporate Social Responsibility (CSR) commitments. While the efforts are to be welcomed, the International Association of Department Stores (IADS) now believes that...

Business

Fossil Group publishes 2021 Corporate Sustainability Report

Fossil Group has published its 2021 Corporate Sustainability Report outlining the company’s commitments and progress on environmental, social and governance (ESG) initiatives. It comes as the group, which owns the likes of Relic, Misfit and Fossil, continues to broaden its corporate responsibility through its framework, Make Time for Good. As...

Business

Farfetch publishes 2021 ESG report

British-Portuguese retailer Farfetch has published its new 2021 environmental, social and corporate governance (ESG) report, detailing everything from its logistics emissions to its ongoing efforts within its inclusivity initiatives. As part of the 2021 report, the company said it decided to refresh its materiality assessment for this edition,...

Business

Richemont shares ESG achievements in 2022 Sustainability Report

Swiss luxury group Richemont has released its annual Sustainability Report, sharing details of its ongoing Environmental, Social and Governance (ESG) performance for the past year and its achievements in the area. Its position in ESG has been driven by new appointments within its leadership team, including the introduction of a chief...