Gildan’s Committment to Next Generation ESG and Future Targets
25 January 2022: Glenn Chamandy, President and CEO of Gildan, said “From our beginning, we have been re-imagining and building the future of responsible apparel manufacturing. This has made Gildan the Company it is today; recognised for the apparel we make and how we make it.
“ESG has always been integrated into our business strategy and reflected in our market offering. This next generation strategy will push us to deliver even stronger ESG performance and continue to reinforce Gildan as a leading ethical, sustainable, and efficient apparel company.”
– Climate, Energy and Water
Gildan commits to continuing its fight against climate change by paving the way towards a low carbon future, with a goal of reducing its scope 1 and 2 CO2 emissions by 30% by 20301, aligned with the SBTi and the level of decarbonisation required to meet the goals of the Paris Agreement. To that effect, Gildan is pleased to share that the company has signed the SBTi commitment letter, joining companies worldwide in following a science-based approach in reducing carbon emissions. Gildan also commits to addressing water related risks linked to climate change.
Gildan commits to fostering a circular economy to reduce its environmental impact. In doing so, Gildan intends to source more sustainable and transparent raw materials and enhance sustainable waste management initiatives. This includes sourcing 100% sustainable cotton by 2025 and 30% recycled polyester or alternative fibres and/or yarns by 2027.
– Human Capital Management
Importantly, Gildan commits to continue ensuring human rights are respected in its supply chain. Further, Gildan will push health and safety performance to new standards by working to improve employee safety and reducing workplace risks across its operations. To achieve this, Gildan plans to attain the ISO 45001 certification at all its company-owned and operated facilities by 2028.
– Long-Term Value Creation
Gildan commits to positively impacting economic development in regions where the Company operates with meaningful community engagement. Gildan intends to incrementally increase allocation of capital towards purposeful and value-driven projects in regions where the company operates and to gradually reach a contribution of 1% of its pre-tax earnings by 2026.
– Transparency and Disclosure
A key part of Gildan’s accountability in reaching these targets will be to transparently share the journey with stakeholders. To that effect, Gildan also commits to further enhancing and strengthening its ESG disclosure across its areas of focus, effectively allowing stakeholders to make more informed ESG-focused decisions and maintaining a high degree of trust and understanding of Gildan.