Capri Holdings publishes its 2021 corporate social responsibility report
LONDON–(COMMERCIAL THREAD) – Capri Holdings Limited (NYSE: CPRI), a global fashion and luxury group, today released its 2021 Corporate Social Responsibility (CSR) report. The report highlights the company’s progress towards key CSR goals relating to environmental sustainability and climate change, human rights, diversity and inclusion, and philanthropy.
Capri’s 2021 CSR report builds on its global group-wide sustainability strategy, initially released in April 2020, which is divided into three areas:
- Our world – We know that the success of our company is directly linked to the sustainability of the word that surrounds us. Our brands strive to create the highest quality luxury products with longevity and durability in mind. Acting responsibly helps us reduce our impact on the planet and promote industry-wide environmental change.
- Our community – We believe that we have a responsibility towards those who work with us. Our company strives to create inclusive workplaces where all of our employees are empowered and respected. We are committed to creating meaningful opportunities for the growth of our diverse Capri community.
- Our philanthropy – Giving back is rooted in the culture of Capri. We remain unwavering in our commitment to support and positive change in the communities where we live and work.
As part of its 2020 CSR strategy, Capri had previously committed to achieving ambitious and measurable targets for greenhouse gas emissions, renewable energies, the supply of raw materials, and the use of water. , waste reduction, diversity and inclusion, and philanthropic giving. Today’s report covers the company’s activities aimed at making significant progress towards these goals in fiscal 2021, as well as some of the key CSR-related activities undertaken during the first half of the year. fiscal year 2022.
âOur corporate social responsibility strategy has always been to focus our energy and resources where we can have the greatest impact on people and the planet,â said John D. Idol, President and CEO of Capri Holdings. âOver the past year, we have continued to improve the way we work to improve the world we live in. I’m incredibly proud of our entire organization for showing how business can truly be a force for good.
Highlights of the 2021 report include:
Our world –
Signing of the commercial ambition of the Science Based Targets initiative for 1.5 Â° C, committing the company to set scientific objectives in all of its operations and its supply chain in accordance with the reduction requirements to maintain global warming below 1.5 Â° C.
Reaffirming our commitment to achieve 100% renewable energy in the world by joining RE100.
Make significant progress towards our goal of sourcing at least 95% of our leather from Leather Working Group Gold or Silver certified tanneries, or from tanneries achieving comparable certification, by 2025. In fiscal year 2021 , 85% of the leather came from suppliers meeting these highest standards of environmental performance.
Invest in DessertoÂ® – an advanced cactus-based material that is a durable, low-impact option for accessories and footwear.
Our community –
By pledging $ 20 million to the Capri Holdings Foundation for the Advancement of Diversity in Fashion, to further the foundation’s mission of supporting diversity, inclusion and equality in the fashion industry.
Launch of Pride @ Capri, our first employee resource group focused on the LGBTQ + community and its allies.
Signing of the Black and Fashion Council’s commitment to increase the percentage of Black employees in senior and junior level positions across our company.
Achieve a score of 80 out of 100 points on our first submission to the Human Rights Campaign Foundation’s Corporate Equality Index.
Our philanthropy –
Contribution of $ 3 million with our brands and founders to local and international organizations providing first-line and emergency relief at the start of the COVID-19 pandemic.
Donate $ 35 million of Michael Kors products to poverty and disaster relief through the nonprofit Delivering Good.
Distribution of over 24 million school meals as part of the Michael Kors Watch Hunger Stop campaign in partnership with the United Nations World Food Program.
Continue to support Women for Women International through the Jimmy Choo Foundation.
Support the Born this Way Foundation, a non-profit organization committed to empowering and promoting the well-being of young people, through the Versace’s Pride 2021 programming.
The company conducted a Climate-Related Financial Disclosure Working Group (TCFD) analysis to improve its sustainability strategy and programming. As part of Capri’s commitment to transparency, the report is supported by information consistent with TCFD recommendations and, for the second year, with the Sustainability Accounting Standards Board (SASB) framework. The report also includes information on how the company’s CSR activities and its strategic focus areas align with the United Nations Sustainable Development Goals and the ten principles of the United Nations Global Compact.
For more information on the corporate social responsibility program and to view the full 2021 report, visit CapriHoldings.com/CSR.
About Capri Holdings Limited
Capri Holdings Limited is a global fashion and luxury group, comprised of iconic brands that are industry leaders in design, style and craftsmanship. Its brands cover the full spectrum of luxury fashion categories, including women’s and men’s accessories, footwear and ready-to-wear as well as wearable technology, watches, jewelry, eyewear and a full line. of perfumery products. The Company’s goal is to continue to expand the global reach of its brands while ensuring that they retain their independence and exclusive DNA. Capri Holdings Limited is listed on the New York Stock Exchange under the symbol CPRI.
This press release contains statements which are or may be considered “forward-looking statements”. Forward-looking statements are forward-looking in nature and are not based on historical facts, but rather on the current expectations and projections of the management of Capri Holdings Limited (the âCompanyâ) regarding future events, and are therefore subject to risks. and uncertainties that could cause actual results to differ materially from future results expressed or implied by forward-looking statements. All statements other than statements of historical fact included in this press release may be forward-looking statements. Without limitation, all statements preceded or followed by or which include the words “plans”, “believes”, “expects”, “intends to”, “will”, “should”, “could”, ” would â,â could â,â anticipates â,â could âor similar words or expressions are forward-looking statements. These forward-looking statements are not guarantees of future financial performance. These forward-looking statements involve known and unknown risks and uncertainties that could significantly affect expected results and are based on certain key assumptions, which could cause actual results to differ materially from those projected or implied in forward-looking statements. These risks, uncertainties and other factors are set out in the reports the Company files from time to time with the United States Securities and Exchange Commission, including the Company’s annual report on Form 10-K for the year ended. on March 27, 2021 (file n Â° 001-35368). Any forward-looking statement contained in this press release speaks only as of the date of its publication and the Company disclaims any obligation to update or revise any forward-looking or other statement contained in this document other than in accordance with legal obligations. and regulatory.