VF Corporation Publishes Sustainability & Responsibility Report for Fiscal Year 2022
The report, Seizing the Momentum, details
actions and progress of VF’s environmental and social
VF Corporation (NYSE: VFC), a global leader in branded lifestyle
apparel, footwear and accessories, today released its latest Made
for Change Sustainability & Responsibility report entitled
Seizing the Momentum. The report shares the company’s progress
toward its science-based targets, product traceability goals, and
other social and environmental commitments.
“At VF, our performance-driven culture is grounded in purpose,
which leads us to remain sharply focused on delivering consistent
business results while also achieving high standards in
environmental and social responsibility,” said Steve Rendle, VF’s
Chairman, President and CEO. “Our latest Made for Change report
demonstrates how we’re making meaningful progress toward our
long-term sustainability commitments through the constant pursuit
of responsible and profitable growth.”
The company’s fifth Made for Change report details VF’s actions
to advance its primary areas of focus: People, Planet and Product,
which include topics covering gender parity; community investments;
human rights; worker and community development; traceability;
climate change; renewable energy; waste and plastic reduction; use
of responsibly sourced, recycled and regenerative materials; and
the reduction of unwanted chemicals.
The report also highlights how VF and its brands collectively
scale and accelerate meaningful progress aligned with our Purpose.
Examples of brand initiatives featured in the report include the
launch of the Vans® brand’s Sustainability Hub and the unveiling of
its new VR3 product line and labeling; and the Timberland® brand’s
TimberloopTM takeback program and resale website launched in the
“VF is acting with urgency in this important moment for social
and environmental progress,” said Sean Cady, VF’s Vice President,
Global Sustainability, Responsibility and Trade. “In the face of
global uncertainty, we are continuing to push forward the programs
we’ve been building for years on climate action, product
traceability, materials, human rights, and diversity, equity and
Report highlights include:
- Worker & Community Development (WCD): Through its WCD
programs, VF provided support to over 248,000 people in FY22 and
more than 652,000 unique individuals since the program’s inception,
as the company seeks to improve the lives of 1 million people by
FY26 and 2 million by FY31.
- Inclusion, Diversity, Equity & Action (IDEA): VF is making
meaningful progress toward its aspiration to achieve gender parity
globally in director and above positions and 25% representation of
Black, Indigenous and People of Color (BIPOC) in director and above
positions in the U.S. by FY30. VF reported 41.8% of global female
leaders and 18.1% of U.S. BIPOC leaders at the end of FY22.
- Community Impact: VF associates contributed over 167,500
volunteer hours from FY19 to FY22 and VF’s brands provided more
than $15.6 million in monetary and product donations in FY21.
- VF is making progress against its 2030 science-based greenhouse
gas (GHG) emission reduction targets:
- Scope 1 and 2 emissions: As of FY22, VF has achieved 66% of its
target of reducing Scope 1 and 2 GHG emissions by 55%.
- Scope 3 emissions: As of FY21, VF achieved 8% of its target of
reducing Scope 3 GHG emissions by 30%.
- Renewable Energy: VF made progress toward the completion of the
apparel and footwear industry’s largest tax equity investment in
FY22 and utilized 34% renewable energy across its direct
operations, up from 32% in FY21.
- Waste Reduction: By year-end FY22, VF achieved an average waste
diversion rate of 97% in all active company owned – and operated
- Traceability: VF achieved its goal of publishing traceability
maps for 100 of its brands’ most iconic products in FY22. VF
continues to expand its traceability program, making progress
against its goal to trace five key materials through 100% of the
supply chain by FY28.
- Materials: In FY21, 36% of polyester originated from recycled
materials, achieving 72% of VF’s FY26 goal to source 50% of its
polyester from recycled materials.
- Chemistry: VF removed more than 300 metric tons of nonpreferred
chemicals from its supply chain since FY20 through the innovative
CHEM-IQSM program. Since the program’s inception in 2016, VF has
removed 900 metric tons of nonpreferred chemicals.
VF’s FY22 Sustainability & Responsibility report was
prepared in accordance with Global Reporting Initiative (GRI)
Standards 2018, Core option; aligned with Sustainability Accounting
Standards Board (SASB) Apparel, Accessories & Footwear Standard
2018; informed by the Task Force on Climate-related Financial
Disclosures (TCFD); and United Nations Sustainable Development
Goals (UN SDGs); and serves as our UN Global Compact (UNGC)
Communication on Progress. Unless otherwise stated, all data
reported is for VF’s fiscal year 2022.
Founded in 1899, VF Corporation is one of the world’s largest
active-lifestyle companies, which connects people to the activities
and experiences they cherish most through a portfolio of outdoor,
active, workwear and streetwear 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.
version on businesswire.com: https://www.businesswire.com/news/home/20221107005383/en/
Colin Wheeler VF, Communications VF Corporation
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