Off the Heels of Yeezy Gap Drop, Gap Inc. Shares Progress in Sustainability
Gap Inc. revealed its progress on the sustainability front – right after the Yeezy Gap hoodie released on Wednesday.
Noting that “strong sustainability practices are a critical way for us to secure the future,” Sally Gilligan, director of growth transformation at Gap Inc., said in a statement, “Our customers want carry their values. We firmly believe that we can create amazing products and experiences for our customers while ensuring we create thriving opportunities and communities. “
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The paired announcements of the sustainability report and the Yeezy Gap decline may be a testament to the company’s crusade to appeal to the next generation and ESG investors. The $ 90, 100% cotton Yeezy Gap hoodie is already showing up on Depop for a resale value of $ 899, being sold out in most colors and sizes and now out of stock. Cotton is a basic material being reformed in Gap, with the company cleaning more than half of its cotton to reduce its environmental impact. The hoodie follows in the footsteps of the $ 200 Yeezy recycled nylon jacket that debuted in June.
Cotton is the most widely used material by Gap Inc., accounting for 61% of the material mix of all brands. Gap’s goal is to source 100% cotton from “more sustainable sources,” which the company determines from data from the Higg Index, Textile Exchange and its own life cycle assessments. . In 2020, Gap declared 54% of cotton coming this way.
Despite some imprecision, Gap Inc.’s environmental goals showed clear progress in the areas of water, climate, and biodiversity (or materials). Year-end sustainability data – including goals and progress to date in social and environmental areas – appears on the company’s website and its latest report released on Wednesday.
The company has already reached certain climatic milestones, in particular the reduction of scope 1 and scope 2 emissions (operations held) by 50% compared to 2015. With regard to larger operations, Gap aims to achieve carbon neutrality across its value chain (across all scopes) by 2050, but the company has not disclosed Scope 3 data, claiming it will be available in 2022.
The majority, or 80%, of Gap’s supply chain invests in women’s empowerment initiatives. These include the International Labor Organization’s HER Empower @ Work with Business for Social Responsibility and Better Work project, among others, to promote female worker education and gender equality in global supply chains .
While seven goals fell under women’s empowerment and human rights, the majority, 85%, did not have intermediate targets, indicating “ongoing monitoring”, due to recently set goals (according to the report). The Personal Advancement and Career Enhancement program, however, has touted its progress since 2007. To date, more than 804,000 women and girls have been helped by Gap’s PACE program.
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