American apparel brand Guess has detailed new sustainability targets in Vision Guess, the company's fourth sustainability report, which covers fiscal years 2020 and 2021 and was produced in line with the Global Reporting Initiative (GRI) and the Sustainable Accounting Standard Board (SASB) requirements. It details the company's development in terms of ESG (Environmental, Social, and Governance) issues.
Guess intends to expand its sustainable denim options to 75% within three years, replace virgin polyester with recycled materials, and cut company greenhouse gas emissions by 50% and supply chain emissions by 30% by 2030.
The report covers the Guess sustainability plan's three pillars: operating with integrity, empowering people, and preserving the environment. Guess greenhouse gas targets have been approved by the Science-Based Objectives Initiative.
The company said in a press release that it is increasing its eco Smart Guess denim product offerings by 18%, increased its global, certified sustainable materials across brands, and achieved gender pay parity for both its US corporate headquarters and US retail operations since its first sustainability targets were announced.
The company's new Guess Sustainability Assurance Framework is also highlighted in the report, which is a robust process for collecting, reviewing, and testing sustainability data to ensure consistency and comparability of nearly 100 ESG-related metrics before sending it to an external assurance provider.
Carlos Alberini, Guess's CEO, said that this year's report, Vision Guess, demonstrates their stronger standards as well as their future ESG approach. They're approaching ESG reporting with the same rigor as financial reporting, and they're concentrating on building the necessary system, testing, and controls to assure adequate comparability, consistency, and accountability.
The release of Vision Guess is a watershed moment for the company, as it marks the end of a reasonable assurance collaboration with Big 4 accounting firm KPMG to review the metrics and disclosures in its sustainability report.
A weekly report covering market and price information on the entire chain of polyester along with online access to daily polyester chain prices.
One-time reports that are issued annually cover the demand and supply trends in individual products including polyester, nylon, acrylic, viscose, and cotton.
One-time reports that are issued annually cover the demand and supply trends in the individual country's natural and manmade fiber/filament industries.
Countries Served Worldwide