Upon celebrating the 50th Earth Day, global fashion luxury company Capri Holdings (Versace, Jimmy Choo, Michael Kors) released the Group’s strategy in terms of corporate social responsibility.
The report outlines the company’s global strategy to reach significant, measurable goals as to important environmental and social responsibility issues, specifically material sourcing, greenhouse gas emissions, water use, waste reduction, diversity and inclusion, and philanthropic giving.
In further details, Capri’s corporate social responsibility strategy is divided into 3 areas. The first focuses on reducing the Group’s environmental impact. The goal is to reach zero emissions in 100% of its direct operations, and to use 100% renewable energy for its owned and operated facilities by 2025.
The aim is to deliver on the goals of the Paris Agreement, under which the company has committed to set emission reduction targets across its operations and supply chain by 2021 with the “Science Based Targets” project.
Moreover, and once again by 2025, the US company has committed to ensure that all plastic in its packaging is recyclable, compostable, recycled or reusable, and that its point-of-sale packaging materials are 100% recyclable or sustainably sourced. The firm has also announced collaborations with its key suppliers to reduce water use, and stated that it will source 95% of its leather from certified tanneries by 2025.
The second area of intervention involves fostering diversity and inclusion across the corporate structure, promoting a healthy working environment, and empowering the supply chain to ensure human rights and fair wages.
The report stresses the US company’s long-standing commitment to philanthropy, including the remarkable achievement of distributing over 19 million meals to children in famine areas all over the world through the “Michael Kors Watch Hunger Stop” program. All goals included in the report on Capri Holdings’ corporate social responsibility support the 17 “Sustainable Development Goals” set by the United Nations.
We are proud of the actions our company is taking to drive positive environmental and social change within our organization and our world
said John D. Idol, Chairman and Chief Executive Officer of Capri Holdings
Early last year, soon after we created our global fashion luxury group, Capri Holdings, we assessed the sustainability efforts each of our brands was already undertaking, along with the core values shared by them. We also considered the responsibilities we collectively hold to the environment, to the communities in which we operate, and to the people with whom we work. We recognize that as our company grows, so do our responsibilities, and welcome the opportunity to do more. We believe that sound environmental and social policies are both ethically correct and fiscally responsible. To that end, we are committed to improving the way we work in order to better the world in which we live
While disclosing the company’s corporate social responsibility goals, Idol also signed the United Nations Global Compact, the world’s largest corporate sustainability initiative, established to help achieve the “Sustainable Development Goals”.