Tapestry Releases Fiscal Year 2021 Corporate Responsibility Report and Materiality Assessment
27 Janeiro 2022 - 8:45AM
Business Wire
Outlines Continued Progress Against Expanded
2025 People, Planet and Community Goals
Highlights New Biodiversity and Circularity
Initiatives to Minimize Impact on Natural Resources
Tapestry, Inc. (NYSE: TPR), a leading New York-based house of
modern luxury accessories and lifestyle brands, today released its
ninth Corporate Responsibility report, which reviews the
environmental, social and governance (ESG) impact work conducted by
Tapestry in the 2021 fiscal year, ending July 3, 2021, as well as
an updated Materiality Assessment.
“Tapestry’s approach to corporate responsibility is based on
driving real, measurable change towards a more sustainable,
equitable and inclusive world. I am incredibly proud of the great
strides that we made in fiscal year 2021 that are detailed in Our
Social Fabric Corporate Responsibility report,” said Joanne
Crevoiserat, Chief Executive Officer of Tapestry, Inc. “Among them
are the announcement of an ambitious expansion of our 2025 goals
and signing the Science Based Targets initiative’s Business
Ambition for 1.5°C, committing to set science-based targets to
limit global warming to 1.5°C and achieve net zero emissions by
2050, remaining steadfast in our efforts to make a difference and
create a better world.”
The fiscal year 2021 Corporate Responsibility report highlights
the progress made towards key ESG topics across three pillars: Our
People, Our Planet and Our Communities. The report outlines the
expansion of several of Tapestry’s ESG goals for 2025 with new bold
commitments and the launch of a biodiversity strategy.
In fiscal year 2021, Tapestry conducted a comprehensive
Materiality Assessment to identify and prioritize the ESG topics
that are most important to the company’s business and stakeholders.
The results of this assessment are being used to inform Tapestry’s
ESG strategy and to ensure the company is communicating to
stakeholders on the issues and topics that are most important to
them.
Highlights from Tapestry’s FY2021 Corporate Responsibility
report and bold ESG commitments include:
Our People
- Announced all U.S.-based hourly employees will earn a minimum
hourly wage of $15, which began on September 5, 2021
- Filled 80% of VP+ open positions with internal talent
- Named to Forbes’ “Best Employers for Diversity” and “Best
Employers for Women” 2021 lists, and “2021 Best Place to Work for
LGBTQ Equality” by the Human Rights Campaign Corporate Equality
Index (CEI)
Our Planet
- Procured 21% renewable energy across operations in North
America, which is equal to 9% of global operations
- Launched Coach (Re)Loved circularity initiative
- Continued engaging with the Sustainable Apparel Coalition and
gained insight into the Company’s supply chain by reviewing
verified supplier responses to the Higg Facility Environmental
Module (Higg FEM)
- Committed to the Science Based Targets initiative’s Business
Ambition for 1.5°C
Our Communities
- Completed more than 32,000 employee volunteer service hours
across 550 nonprofits as of the end of fiscal year 2021
- Launched the $50 million Tapestry Foundation to advance access
and equity initiatives and combat climate change
- Contributed more than $1 million to organizations that champion
racial and social justice
- Donated nearly $8 million to nonprofits around the world across
brands and Company Foundations
Read more about Tapestry’s bold ESG commitments launched in July
2021 here.
Tapestry’s fiscal year 2021 Corporate Responsibility report was
prepared in alignment with leading sustainability reporting
frameworks, including the UN Sustainable Development Goals, Task
Force on Climate-related Financial Disclosures (TCFD), Sustainable
Accounting Standards Board (SASB) and Global Reporting Initiative
(GRI). To view the full report, visit:
https://www.tapestry.com/responsibility.
About Tapestry, Inc.
Our global house of brands unites the magic of Coach, kate spade
new york and Stuart Weitzman. Each of our brands are unique and
independent, while sharing a commitment to innovation and
authenticity defined by distinctive products and differentiated
customer experiences across channels and geographies. We use our
collective strengths to move our customers and empower our
communities, to make the fashion industry more sustainable, and to
build a company that’s equitable, inclusive, and diverse.
Individually, our brands are iconic. Together, we can stretch
what’s possible. To learn more about Tapestry, please visit
www.tapestry.com. The Company’s common stock is traded on the New
York Stock Exchange under the symbol TPR. [FLS]
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version on businesswire.com: https://www.businesswire.com/news/home/20220127005271/en/
Tapestry, Inc. Analysts & Media: Andrea Shaw Resnick Chief
Communications Officer 212/629-2618 aresnick@tapestry.com
Kelsey Mueller Director, Investor Relations 212/946-8400 X
100235 kmueller@tapestry.com
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