The Children’s Place Issues 2021 Annual ESG Report
The Children’s Place, Inc., the largest pure-play children’s specialty apparel retailer in North America, announced the release of its 2021 ESG Report.
The 2021 ESG Report details the Company’s strategic approach to ESG. It sets forth the progress made in fiscal 2021 on the Company’s environmental initiatives, including its science-based goals to reduce greenhouse gas (GHG) emissions, and its measurable targets to increase the use of more sustainable raw materials in products and to reduce the use of water and chemicals in its global supply chain. Some highlights from the Company’s 2021 ESG Report include:
- A reduction in GHG emissions of 41% against a 2018 baseline in owned and leased operations (scope 1 and scope 2), exceeding the previously announced goal of 30% targeted for 2030.
- A new GHG reduction goal of 50% for scope 1 and scope 2 market-based emissions by the end of 2030.
- Over two-thirds of the cotton fibers used in the Company’s apparel are now responsibly sourced with a goal of 100% responsibly sourced cotton by the end of fiscal 2025.
- The 2021 ESG Report highlights 16 key focus areas for the Company and details its measurable goals and progress related to a number of topics: climate and energy, raw materials, water stewardship, chemical management, waste and circularity, diversity, equity and inclusion, community, and supply chain compliance and worker well-being.
Adrian Sherman, Vice President, Environment & Social Responsibility, said, “We are proud of the progress we have made on the environmental and social goals highlighted in our 2021 ESG Report. We believe our efforts have the potential to unlock significant value and new opportunities for our business. While we realize there is much work to be done in achieving the goals we have set, we remain committed to continued progress for the benefit of our customers, our shareholders, our associates, and the communities we impact through our operations.”
See related article: Walmart Releases Mid-Year Culture, Diversity, Equity & Inclusion Report
The 2021 ESG Report details the Company’s continued commitment to social topics, including a focus on diversity, equity and inclusion (DE&I). Jane Elfers, President and CEO said, “Our strong commitment is evident in our industry-leading gender diversity statistics. Over 85 percent of our customers are women and we are a woman-led Company; 87% of our workforce are women, with strong representation across every level of our organization, from our store associates to our Board of Directors. We believe our strong commitment to gender diversity gives us a competitive edge in the marketplace, and to reinforce our strong support for women, we have expanded our commitments this year with new goals to maintain representation of women in our overall workforce of 80% or over, and to maintain at least 50% representation of women in our corporate leadership.”
The Company actively strives to ensure that its workplace includes a diverse range of perspectives and backgrounds at the Board of Director level, in senior leadership and throughout its management and associate base. The Company has a broad representation of races and ethnicities throughout the organization, with 67% of the Company’s workforce identifying as racially/ethnically diverse. This past year, the Company reinforced its commitment to ensure that its workforce is reflective of local demographics and the customers the Company serves by setting a new goal to double the representation of Black/African American associates at its U.S. corporate offices by 2025.
The Children’s Place Board of Directors and its Committees have oversight responsibility for ESG matters, and the Company’s goals and initiatives are informed by the Sustainable Accounting Standards Board (SASB) standards, the GRI (formerly the Global Reporting Initiative) standards, and the United Nations Sustainable Development Goals (SDGs).
Source: The Children’s Place