Scotch & Soda publishes its annual impact report

YarnsandFibers News Bureau 2022-11-14 07:11:22 – Denmark

Luxury fashion brand Scotch & Soda, has recorded £41.2 million in environmental damages for the fiscal year 2021–2022, with plans to create the world for the better in the future.

Scotch & Soda reported a financial year revenue of £299.5 million (€342.5 million), up 23% from the prior year. A 34% increase in generated material volumes coincided with the increase in income.

The clothing company takes responsibility for the harm it causes to the environment and carefully evaluates all aspects of its environmental impact, from the manufacture of raw materials to the product's end of life. The corporation reported environmental damage totaling £41.2 million (€47.1 million), a 36% increase from the previous year.

The increase in environmental harm was primarily caused by the expansion of the assessment's scope to cover licensee products, the overall growth in sales, and the ongoing business operations that underpin that growth.

According to the EP&L (Environmental Profit and Loss) assessment, the majority of Scotch & Soda's environmental impact is brought on by the materials chosen for collections and happens during the stage of raw material production, where it is primarily brought on by greenhouse gas emissions, air pollution, and water use.

Frederick Lukoff, CEO of Scotch & Soda, said that sustainability has become a key component of Scotch & Soda's strategy in the last few years, inspired by the values of the free spirit of Amsterdam. As a team, one of their key aims is to conduct their company with better consideration for people and the environment by making more responsible decisions that lessen their environmental impact.

Lukoff added that he is overjoyed that this year they begin to see the benefits of the plan they have been putting into practice. Even if they still have a ways to go, they can now track their progress and adhere to a specific plan for the following years. They hope to continue this upward trend and further uncouple impact from sales in the next years.

Jelle de Jong, Sustainability Director at Scotch & Soda, said that they have integrated the EP&L at the center of our sustainability strategy to generate a 360-degree insight of their environmental impact across the entire value chain, from cradle to grave. These insights help them have the most impact in the areas that most need it and enable them to set measurable time-bound goals.

Sustainalize's Misha Elkerbout, Senior Consultant of Corporate Sustainability, said that the company is thrilled to have worked with Scotch & Soda and to have jointly developed an environmental profit & loss. Understanding the overall environmental impact of an organization requires knowledge of EP&L. When a company is aware of its entire environmental impact, it is better able to control it and take positive action.

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