ESG news and archive

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...

Report

Kontoor Brands names Mame Annan-Brown new global head of ESG

Fashion conglomerate Kontoor Brands has announced the appointment of Mame Annan Brown as its new global head of environmental, social and governance (ESG), effective immediately. Annan-Brown, who boasts two decades of experience in the area, will lead the implementation of the Wrangler-owner’s global ESG efforts, overseeing strategy,...

BusinessFeatured

Victoria’s Secret publishes first ESG report

Lingerie giant Victoria’s Secret has published its first-ever environmental, social and governance (ESG) report outlining the steps the company has made in these areas so far and what it needs to continue to work on. In an opening statement, CEO Martin Waters said the company was continuing its “journey” of improving its relationship with its...

Report

Saks appoints first senior vice president of ESG

Luxury e-commerce platform Saks has tapped Cara Chacon as its first senior vice president of environmental, social, and governance (ESG). Chacon has more than two decades of experience in corporate social responsibility and environmental sustainability across multiple industries. She served as vice president of social and environmental...

BusinessFeatured

Neiman Marcus publishes first ESG report, reveals upcoming investments

Luxury retail group Neiman Marcus has announced its first Environmental, Social and Governance (ESG) Report to share its ongoing progress and upcoming investments in the area, as well as its 2025 ESG strategy. In a release, Geoffroy van Raemdonck, the group’s CEO, said ESG was “an essential part” of the company’s growth roadmap and has become...

Report

Prada appoints two ESG experts as non-exec board members

Italian luxury label Prada has appointed ESG experts Pamela Culpepper and Anna Maria Rugarli to its board of directors. Pamela Culpepper is the co-founder of Have Her Back, a female-owned and led culture consultancy focused on advancing equity. She was also the chief human resources officer at exchange holding company Cboe Global Markets, and...