ESG Targets 08:27 AM EST, 01/17/2022 (MT Newswires) -- Gildan Activewear Inc. (GIL.TO) on Monday outlined its environmental, social and governance strategy, including its goal of slashing scope 1 and 2 emissions by 30% by 2030.
Gildan, which lost 2.1% on Friday, said it also aims to source 100% sustainable cotton by 2025 and 30% recycled polyester or alternative fibers and/or yarns by 2027. The company plans to achieve zero manufacturing waste by 2027 and to use 75% recycled or sustainable packaging and trim materials by 2027.
Gildan seeks to achieve gender parity for roles at the director level and above by 2027 and intends to increase allocation of capital towards value-driven projects in regions where it operates to 1% of its pre-tax earnings by 2026.
In 2022, the company plans to further enhance alignment to the Task Force on Climate-related Financial Disclosures framework through a subsequent disclosure in a stand-alone report.
"We are confident that this new strategy will propel our efforts to greater heights and allow us to become a stronger and more resilient company," said Claudia Sandoval, Gildan's vice-president of corporate citizenship.