SAN FRANCISCO,
April 30,
2024 /PRNewswire/ -- Gap Inc. (NYSE: GPS) released
its 2023 Environmental, Social and Governance (ESG) Report
today, marking the company's twentieth year of sustainability
reporting and nearly three decades of sustainability programming.
The report reflects the company's progress in FY2023 toward
building a more sustainable, resilient, and inclusive business as a
house of iconic brands, including Old Navy, Gap, Banana Republic
and Athleta. It outlines how the company is accelerating positive
environmental and social impact, highlights our approach to
diversity, equity, and inclusion, and shares progress toward our
commitments.
Introducing the report, Gap Inc. CEO Richard Dickson noted, "When Don and
Doris Fisher opened the very first
Gap store in 1969, they bridged the generation gap with clothing
and experiences that spoke to an energetic new idealism. Today, 55
years later, the people of Gap Inc. are still bridging gaps,
inspired by our shared humanity, to create a better world. A world
where purpose and profit co-exist in pathbreaking ideas that better
the wellbeing of people and planet."
Over the last year, Newsweek named Gap Inc. first in retail on
its list of "America's Most Responsible Companies," and Gap Inc.
was included in the S&P Global Dow Jones Sustainability Index
for the eleventh year in a row.
In FY2023, Gap Inc. and its partners launched three major
initiatives: The Women + Water Collaborative with the Water
Resilience Coalition, WaterAid, Cargill, and GSK to improve access
to clean water and sanitation in India; the Global Water Innovation Centre for
Action in partnership with long-time supplier, Arvind Limited, to
catalyze innovations in water stewardship; and RISE, in
collaboration with BSR HERproject, CARE, and Better Work to
accelerate gender equity across the apparel supply chain.
Other highlights from the report include:
- Over 2.5 million people touched by the apparel industry have
been empowered to improve their access to clean water and
sanitation since 2017.
- Over 19,600 youth have participated in Old Navy's This Way
ONward program (since 2007) which fuels the next generation of
leaders with the skills and confidence they need to succeed in the
workplace. With 70 percent of alumni identifying as people of
color, the program now accounts for 4.3% of all Old Navy
entry-level employees.
- 98% of cotton utilized by Gap Inc. was from more sustainable
sources, and 100% of cotton utilized by at Gap brand and Athleta
was from more sustainable sources.
- As of 2022, 58% of electricity used in company-operated
facilities was from renewable sources.
- The launch of our Inclusive Leadership Coaching Series –
facilitated by a third-party expert and focused on building
allyship in action and a sense of belonging – as well as our
Inclusive Hiring Training, which aims to actively mitigate bias and
any form of discrimination in the recruitment process.
To view the full ESG Report, click here. For in-depth
information about the company's efforts to be a force for good for
people and the planet, please visit gapinc.com/sustainability.
The report covers Gap Inc.'s global operations for FY2023, which
ended on February 3, 2024, unless
otherwise noted. We follow several ESG standards and prepared the
report in reference to the Global Reporting Initiative (GRI)
Standards and in alignment with the Sustainable Accounting
Standards Board (SASB) Standards and the Task Force on
Climate-Related Financial Disclosures (TCFD). Gap Inc. is committed
to the United Nations' Sustainable Development Goals (SDGs) and
Global Compact (UNGC) Ten Principles; the report serves as our
Communication on Progress.
About Gap Inc.
Gap Inc., a house of iconic brands, is the largest specialty
apparel company in America. Its Old Navy, Gap, Banana
Republic, and Athleta brands offer clothing, accessories, and
lifestyle products for men, women and children. Since 1969, Gap
Inc. has created products and experiences that shape culture, while
doing right by employees, communities and the planet. Gap Inc.
products are available worldwide through company-operated stores,
franchise stores, and e-commerce sites. Fiscal year 2023 net sales
were $14.9 billion. For more
information, please visit www.gapinc.com.
Press@gap.com
Sustainbility@gap.com
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SOURCE Gap Inc.