Chairman and CEO, Emanuel Chirico will outline new corporate
responsibility strategy at Copenhagen Fashion Summit
NEW YORK–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24pvh&src=ctag” target=”_blank”gt;$pvhlt;/agt; lt;a href=”https://twitter.com/hashtag/CR?src=hash” target=”_blank”gt;#CRlt;/agt;–PVH Corp. [NYSE:PVH] announces the evolution of its Corporate
Responsibility (CR) strategy – Forward Fashion – a vision
for the future that sets a new level of ambition and transparency; and
reinforces its long-standing commitment to sustainable business. Coupled
with today’s release of PVH’s 11th annual CR Report and launch of a
dedicated digital hub, Forward Fashion outlines three
focus areas that aim to reduce the company’s negative impacts to zero,
increase positive impacts to 100% and improve over one million lives
throughout its value chain. These areas include combatting climate
change, addressing waste and hazardous chemicals, ensuring worker
safety, and providing development programs to women.
The strategy creates a platform for each of PVH’s branded businesses – CALVIN
KLEIN, TOMMY HILFIGER and Heritage Brands – to further
accelerate their consumer-and product-centric sustainability efforts.
“Corporate responsibility has always been fundamental to how we conduct
business. Forward Fashion represents a renewed sense
of urgency to use the collective power of PVH to achieve transformative
change at scale,” said Emanuel Chirico, Chairman and Chief
Executive Officer, PVH Corp. “The challenges and opportunities we
face are bigger than PVH, but we are confident Forward
Fashion will position us for success over the long-term, leading
to more engaged associates, more loyal consumers and, ultimately, a more
sustainable and responsible future for the fashion industry.”
FIFTEEN PRIORITIES WITH KEY TARGETS
Within
the strategy’s three focus areas, 15 priorities have been selected based
on where the company can make the greatest impact. For each priority,
key targets have been set to ensure accountability, transparency and
authenticity in how progress is tracked and reported.
Reduce negative impacts to zero
PVH’s
ambition is for its products and business operations to generate zero
waste, zero carbon emissions and zero hazardous chemicals, and for its
products to be truly circular.
-
Priority: Eliminate Carbon Emissions – Protect the
global climate by reducing energy use and powering its business
through renewable sources -
Key Target: PVH offices, warehouses and stores will be powered
by 100% renewable electricity by 2030 and the company will drive a 30%
reduction in its supply chain emissions by 2030 -
Priority: End Waste – Divert the waste PVH sends to
landfill -
Key Target: All PVH offices, distribution centers and stores
will achieve zero waste and eliminate single-use plastics by 2030 -
Priority: Eliminate Hazardous Chemicals and Microfibers –
Eliminate water pollution from wet processors -
Key Target: Water leaving wet processors will have zero
hazardous chemicals and be filtered for harmful microfibers by 2025 -
Priority: Innovate for Circularity – Foster and harness
innovation to design and manufacture products that eliminate product
waste -
Key Target: Three of the company’s most commonly purchased
products will be completely circular including the full traceability
of key raw materials by 2025
Increase positive impacts to 100%
PVH’s
ambition is for 100% of its products and packaging to be ethically and
sustainably sourced, and for 100% of its suppliers to respect human
rights and be good employers.
-
Priority: Source Ethically – Expand the application of
PVH’s social and environmental standards to the manufacturing of all
products and materials -
Key Target: 100% of PVH suppliers will meet or exceed all of
its social and environmental standards by 2030 -
Priority: Amplify Worker Voice – Improve working
environments through worker engagement and representation -
Key Target: 100% of workers employed by key suppliers will have
their voices heard through democratically elected representatives by
2025 -
Priority: Promote Safe Workplaces – Ensure safe and
healthy workplaces for all workers in the PVH supply chain -
Key Target: 100% of PVH suppliers will promote and maintain
safe and healthy work environments by 2025 -
Priority: Advance Living Wages – Create conditions for
national living wage agreements through industry-wide collective
bargaining linked to PVH purchasing practices -
Key Target: 100% of PVH’s key suppliers in two key production
countries by 2025 and four by 2030 proactively support industry-wide
collective bargaining to achieve living wages -
Priority: Recruit Ethically – Partner with suppliers to
ensure ethical recruitment practices for migrant workers -
Key Target: 100% of migrant workers at PVH’s Level 1 and key
Level 2 suppliers will not pay recruitment fees by 2025 -
Priority: Regenerate Materials – Transition key product
and packaging materials to sustainable alternatives, and support
regenerative agriculture practices, while protecting animal welfare -
Key Target: Sustainably source 100% of PVH’s cotton and viscose
by 2025, and 100% of polyester by 2030
Improve 1 million+ lives across the value chain
PVH’s
ambition is for its business to improve the over 1 million lives across
its value chain, focusing on education and opportunities for women and
children, ensuring access to clean water for all, and continuing to
champion inclusion and diversity so everyone can achieve their full
potential.
-
Priority: Empower Women – Remove barriers to advancement
and create pathways to opportunity and choice for women in the PVH
supply chain -
Key Target: Professional and life skills development programs
will be made available to 500,000 women across the PVH supply chain by
2030 -
Priority: Foster Inclusion & Diversity – Create an
inclusive environment where every individual is valued -
Key Target: Expand unconscious bias training to all 38,000+ PVH
associates globally by 2023 and achieve gender parity in leadership
positions by 2030 -
Priority: Develop Talent – Develop a talented and
skilled workforce that embodies PVH’s values and an entrepreneurial
spirit, while empowering associates to design their future -
Key Target: Expand professional skills development and digital
literacy programs through PVH University to reach all 38,000+ PVH
associates globally by 2023 -
Priority: Provide Access to Water – Ensure access to
clean water for communities in PVH’s key basins through collaborative
action -
Key Target: Establish five collective action projects in PVH’s
most water-stressed sourcing communities by 2025 -
Priority: Educate the Future – Support the needs of
women and children around the world by creating safe spaces, improving
access to education and enhancing quality of life -
Key Target: Reach 135,000 individuals worldwide through early
education and childcare services, teacher training, parenting
resources and training, and youth employability training services by
2023
For more information on Forward Fashion, visit responsibility.pvh.com.
About PVH Corp.
PVH is one of the most admired fashion and lifestyle companies in the
world. We power brands that drive fashion forward – for good. Our brand
portfolio includes the iconic CALVIN
KLEIN, TOMMY
HILFIGER, Van
Heusen, IZOD,
ARROW,
Speedo*,
Warner’s,
Olga
and Geoffrey Beene brands, as well as the digital-centric True
& Co. intimates brand. We market a variety of goods under
these and other nationally and internationally known owned and licensed
brands. PVH has over 38,000 associates operating in over 40 countries
and $9.7 billion in annual revenues. That’s the Power of Us. That’s the
Power of PVH.
*The Speedo brand is licensed for North America and the Caribbean
in perpetuity from Speedo International Limited.
Contacts
PVH Corp.
Dana Perlman
Treasurer, Senior Vice President,
Business Development and Investor Relations
(212) 381-3502
communications@pvh.com