VF Corporation Publishes New Made for Change Sustainability & Responsibility Report Revealing Achievements in People, Planet and Product Commitments and Sets a Dozen Ambitious New Goals
October 26 2021 - 9:00AM
Business Wire
VF Corporation (NYSE: VFC), a global leader in branded lifestyle
apparel, footwear and accessories, published its latest Made for
Change sustainability and responsibility report today. With action
and progress at the core of its message, the report highlights VF’s
advancement toward achieving its commitments to better both people
and the planet, including progress toward its ambitious
science-based targets. The report also showcases VF’s leadership in
driving measurable, industry-wide progress against environmental
and social challenges.
“VF Corporation and our family of brands strive to be more than
just an apparel and footwear company. Collectively, we work to be a
leading global citizen, setting a high bar for corporate
sustainability and responsibility,” said Sean Cady, Vice President,
Global Sustainability, Responsibility and Trade, VF Corporation.
“From our owned offices to our partner factories around the world,
we use our scale and resources to take actions that advance
meaningful and measurable progress.”
The latest report, Made for Change, is VF’s fourth
sustainability and responsibility report and has three primary
areas of focus: People, Planet and Product, which include worker
development, gender parity, carbon emissions, waste and plastic
reduction, responsible sourcing of materials, recycled and
regenerative supply chains, and chemicals. In line with its
commitment to continuous improvement, the company is also
publishing 12 new ambitious goals in the report.
“VF is committed to fueling change in the apparel and footwear
industries. We believe there is a reciprocal relationship between
purpose and profit, and when we get it right, we create a virtuous
cycle that positively impacts the world and our bottom line,” said
Cady. “We’re proud of our work to date and know there is more work
to do in this space independently and collaboratively with the
global apparel industry and beyond. We’re confident we can drive
continued progress while simultaneously delivering products that
consumers desire.”
Report highlights include:
People:
- Worker and Community Development (WCD): Through its WCD
programs, VF provided support to 290,000 people through FY2020 and
since inception nearly 550,000 workers total as the company strives
to achieve its goal of improving the lives of one million workers
and their communities by 2025 and two million by 2030.
- Worker well-being: VF has announced ambitious worker rights
commitments that aim to promote dignity, social dialogue and equal
opportunities for people across its supply chain.
- Workforce Inclusion, Diversity, Equity and Action (IDEA): At
end of FY2020, 375+ leaders have been trained to foster inclusion
and address unconscious bias.
- Equal Pay: By 2024, assess and resolve any identified pay gaps
for associates, sponsored athletes, and influencers across the
organization through pay equity analysis and review of pay
practices.
- Community Impact: In fiscal year 2020, the VF Foundation
donated $6.2M+ to 72 community partners, including toward COVID-19
relief efforts.
Planet:
- Scope 1 & 2 Emissions: By sourcing renewable energy and
implementing energy efficiency initiatives VF achieved a 17%
reduction toward its commitment of an absolute reduction of Scope 1
and 2 greenhouse gas (GHG) emissions of 55% by 2030 from a 2017
baseline.
- Scope 3 Emissions: Over 50 million metric tons of GHG
reductions were achieved through supplier factory sustainability
programs. And despite experiencing a significant growth in business
between 2017 and 2020, VF saw no corresponding increase in Scope 3
emissions, supporting its commitment to an absolute reduction of
Scope 3 GHG emissions1 of 30% by 2030 from a 2017 baseline.
- Renewable Energy: 29% of VF’s electric power at
owned-and-operated facilities is powered by renewable energy
sources. By 2025, the goal is to source 100% renewable energy
across all owned-and-operated facilities.
- Waste Reduction: 72% of distribution centers are verified
zero-waste2 and will reach 100% verification at the end of calendar
year 2021.
Product:
- Sustainable Materials: 75% of all cotton purchased by VF was
grown in the U.S., Australia or under a third-party sustainability
scheme. VF’s goal is to reach 100% by 2025.
- Traceability: VF set a new goal of tracing five of VF’s key
materials through 100% of the supply chain by 2027. The company has
already completed the mapping of all leather and cotton sourced by
VF brands.
- Sustainable Packaging: VF is progressing toward the elimination
of single-use plastic packaging by 2025.
VF’s FY2020 sustainability and responsibility report was
prepared in alignment with the Global Reporting Initiative (GRI)
standards, the Sustainability Accounting Standards Board (SASB)
standards, and serves as VF’s annual communication on progress for
the United Nations Global Compact. Unless otherwise stated, all
data reported is for VF’s Fiscal Year 2020 (April 2019 - March
2020).
About VF Corporation
Founded in 1899, VF Corporation is one of the world’s largest
apparel, footwear and accessories companies connecting people to
the lifestyles, activities and experiences they cherish most
through a family of iconic outdoor, active and workwear brands
including Vans®, The North Face®, Timberland® and Dickies®. Our
purpose is to power movements of sustainable and active lifestyles
for the betterment of people and our planet. We connect this
purpose with a relentless drive to succeed to create value for all
stakeholders and use our company as a force for good. For more
information, please visit vfc.com.
___________________________________________
1 VF has set a commitment to achieve an absolute reduction of
Scope 3 GHG emissions from purchased goods and services and
upstream transportation of 30% by 2030 from a 2017 baseline. 2
Based on a diversion rate of 95% or greater
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version on businesswire.com: https://www.businesswire.com/news/home/20211026005197/en/
Molly Cuffe Director, Corporate Responsibility Communications VF
Corporation Molly_Cuffe@vfc.com
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