Capri Holdings has released its Corporate Social Responsibility (CSR) report, which details the company's advancements in FY22 with regard to diversity, human rights, environmental sustainability, climate change, and charity.
The company's worldwide sustainability strategy, which is based on the four pillars of governance, the planet, community, and philanthropy, is built upon in this report.
Capri Holdings updated its environmental, social, and corporate governance (ESG) materiality assessment for governance. Additionally, it got 25% people of color and 62.5% women on its board of directors.
The company achieved a 38% decrease in scope 1 and scope 2 GHG emissions from its FY19 baseline and got approval for its global greenhouse gas emissions reduction targets from the Science Based Targets initiative (SBTi).
Through The Fashion Pact Collective Virtual Power Purchase Agreement (CVPPA), Capri Holdings furthered its commitment to renewable energy sources. It also sourced 91% of its leather from tanneries that met the strictest environmental requirements and embraced circulatory through initiatives for product repair and re-commerce.
On the Corporate Equality Index created by the Human Rights Campaign Foundation, the business received a community score of 90/100. Additionally, The Capri Holdings Foundation for the Advancement of Diversity in Fashion unveiled a brand-new scholarship program.
Through the Michael Kors Watch Hunger Stop program, Capri Holdings has so far contributed over 30 million meals for charitable purposes.
The company also contributed $10 million to The Versace Foundation for the LGBTQIA+ community, supported Women for Women International through The Jimmy Choo Foundation, and helped with disaster relief efforts for people who had been displaced and were suffering as a result of the conflict in Ukraine.
John D. Idol, Chairman and CEO of Capri Holdings, said that Capri Holdings is a firm steeped with purpose. Whether it's contributing to the creation of an environment that is more resilient, encouraging diversity and inclusion or helping those in need.
Idol added that this mission propels them forward as they work even harder to achieve their CSR objectives. They are happy with the advancements they have made in the previous year and are eager to keep sharing the work their neighborhood is doing to protect the environment.
A weekly report covering market and price information on the entire chain of polyester along with online access to daily polyester chain prices.
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