Gildan Publishes its 19th Environmental, Social, and Governance (ESG) Report
MONTREAL, Aug. 16, 2023 (GLOBE NEWSWIRE) -- Gildan Activewear Inc. (GIL: TSX and NYSE) is pleased to announce that it has published its latest Environmental, Social, and Governance (ESG) report, marking the Company’s 19th year of public ESG disclosures. The report highlights Gildan’s 2022 performance against key targets and the strong momentum generated across all of its global operations in the first year of activating its Next Generation ESG strategy.
“Looking back at 2022, I am pleased with our continued commitment to ESG across our operations and our enhanced processes and cross-functional collaboration and accountability,” says Glenn J. Chamandy, President and CEO of Gildan. “ESG is one of the three core pillars of our Gildan Sustainable Growth (GSG) business strategy, and as we continue our journey towards achieving our 2030 ESG targets, we are committed to delivering and reporting on our progress.”
2022 ESG highlights:
- Tied 25% of all Gildan’s senior executives’ strategic objectives to their annual short-term incentive plan to support the advancement of ESG targets
- Included sustainability-linked terms in its existing $1 billion revolving credit facility
- Reduced absolute Scope 1 and 2 GHG emissions by 10.9% (compared to a 2018 base year)
- Reduced water intensity by 18.4% (compared to a 2018 base year)
- Sourced 21.7% of its cotton supply from verified U.S., grown cotton suppliers (USCTP) and Better Cotton
- 14.2% of total SKUs of packaging and trim materials specific to apparel (which include carton, polyester, paper, and cotton-poly trims) now contain recycled materials or have relevant sustainability certifications
- Achieved 30.3% gender parity in the collective group representing director-level and above employees, up from 26.7% in 2021
- Contributed $1.1 million to community initiatives
- Published its first stand-alone Climate Change Disclosure Report
Recent 2023 achievements include:
- The Science Based Target initiative (SBTi) validated Gildan’s 2030 near-term targets to reduce Scope 1 and 2 GHG emissions by 30% by 2030 from a 2018 base year. SBTi also validated Gildan’s target to reduce Scope 3 emissions by 13.5% by 2030 from a 2019 base year
- Obtained the first ISO 45001 certification at one of Gildan’s sewing facilities in the Dominican Republic
Gildan continues to be recognized for its ESG practices.
- Included in the Dow Jones Sustainability Index for the 10th consecutive year in 2022
- Included in CDP’s Leadership Band in 2022
- Named one of the “World’s 100 Most Sustainable Corporations” by Corporate Knights
- Included in “Canada’s Best 50 Corporate Citizens” by Corporate Knights
- Designated as a 2023 “Top-Rated ESG Company” by Sustainalytics’ ESG Risk Ratings
- Accorded “Prime” status by Institutional Shareholder Services (ISS) ESG Corporate Rating
The full 2022 ESG Report is available here.
The target boundary excludes land-related emissions and removals from bioenergy feedstocks.
Gildan is a leading manufacturer of everyday basic apparel. The Company’s product offering includes activewear, underwear, and socks, sold to a broad range of customers, including wholesale distributors, screenprinters or embellishers, as well as to retailers that sell to consumers through their physical stores and/or e-commerce platforms and to global lifestyle brand companies. The Company markets its products in North America, Europe, Asia Pacific, and Latin America, under a diversified portfolio of Company-owned brands including Gildan®, American Apparel®, Comfort Colors®, GOLDTOE®, Peds®, in addition to the Under Armour® brand through a sock licensing agreement providing exclusive distribution rights in the United States and Canada.
Gildan owns and operates vertically integrated, large-scale manufacturing facilities which are primarily located in Central America, the Caribbean, North America, and Bangladesh. Gildan operates with a strong commitment to industry-leading labour, environmental, and governance practices throughout its supply chain in accordance with its comprehensive ESG strategy embedded in the Company's long-term business strategy. More information about the Company and its ESG Next Generation ESG strategy can be found at www.gildancorp.com.
Jessy Hayem, CFA
Vice-President, Head of Investor Relations
Director, Global Communications and Corporate Marketing