Corporate social responsibility (CSR) is taking the driver’s seat for many apparel brands, including PVH Corp., which just received a major recognition for its environmental initiatives.
The apparel company, which includes brands like Calvin Klein and Tommy Hilfiger, announced that it was ranked as the top apparel company and No. 48 overall on CR (Corporate Responsibility) Magazine’s 2018 100 Best Corporate Citizens list. The list recognizes U.S. public companies for their environmental, social and governance (ESG) performance on an annual basis and aims to raise the bar for other U.S. public companies to prioritize responsible practices in their supply chains.
“We are proud to receive this honor and be recognized as a leader in our industry,” said Emanuel (Manny) Chirico, CEO and chairman of PVH Corp. “As one of the world’s largest apparel companies, we recognize our responsibility to address our social and environmental impacts and contribute to a fair, healthy future for all. Further, we acknowledge our great opportunity to make positive impacts—from source to store—by empowering the people in our value chain, preserving the environment and supporting our communities.”
Various U.S. public companies, including PVH Corp., received rankings based on 260 ESG data points of disclosure and performance measures that spanned publicly available information in seven categories: climate change, environment, employee relations, finance, governance, human rights and philanthropy and community support. The list ranks the Russell 1000 Index, a stock market index list of the 1,000 largest U.S. public companies, which according to The Motley Fool, represent roughly 98 percent of the U.S. stock market value.
The list ranked PVH Corp. based on its ongoing CSR efforts. PVH Corp’s corporate responsibility program includes 10 commitments across three key areas: empowering people, preserving the environment and supporting communities. The company’s CSR commitments fortify the UN’s Sustainable Development Goals that cover global issues such as chemical management, building safety, greenhouse gases, inclusion, diversity and supporting the needs of children and women.
Other major apparel companies also earned spots on the list, including VF Corp., Nike and Gap Inc. VF Corp. placed No. 66 on the list, while Gap Inc. placed No. 68 and Nike placed No. 72. It’s unclear how the ongoing scandal at Nike could affect its ranking next year.
VF Corp. was lauded for its new sustainability and responsibility strategy, Made for Change, which was created last year to outline VF Corp.’s goals for advancing environmental and social improvements across its business, global supply chain and brands portfolio. A myriad of goals were highlighted in the strategy, including VF Corp.’s commitment to reduce its international environmental footprint by 50 percent by 2030 and improve the lives of 1 million apparel industry workers and local community members by 2025.
“We are honored to once again be named to CR Magazine’s 100 Best Corporate Citizens list,” said Steve Rendle, VF Corp.’s CEO and chairman. “As a purpose-led and performance-driven organization, VF and our brands are deeply committed to operating our business in ways that contribute to the betterment of people and our planet. This recognition is further evidence of the inspiring work our nearly 70,000 associates do every day to make our company an amazing place to work and our world a better place.”