US department store giant Walmart has said it is no longer expecting to hit some of its ESG targets despite making slight progress elsewhere. In its latest climate change report, the company said that while it continued to work towards the “aspirational goal of zero emissions by 2040, progress will not be linear”. Walmart cited its “trajectory...
23 Dec 2024
British department store retailer Harrods has released its first environmental, social and governance (ESG) report, in which it has outlined both its achievements and its future goals as part of an ongoing “sustainability journey”. Through what has been dubbed ‘The Harrods Path to a Sustainable Future’, the luxury retailer set about detailing...
6 Jun 2024
“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...
11 Mar 2024
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...
27 Nov 2023
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...
15 Sept 2023
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...
17 Aug 2023
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...
26 Apr 2023
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...
23 Dec 2022
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...
13 Dec 2022
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...
1 Sept 2022
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...
23 Aug 2022
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,...
1 Jul 2022