Capri Holdings Limited, a global fashion luxury group, today published its 2022 Corporate Social Responsibility (CSR) report, highlighting the company’s work related to environmental sustainability, climate change, human rights, diversity and inclusion and philanthropy during Fiscal 2022 as well as other major CSR-related activities undertaken to date.
“Capri Holdings is a company deep with purpose. Whether it’s doing our part to foster a more resilient environment, promote diversity and inclusion or give back to those in need, Capri Cares about the planet and its people. It is that purpose that drives us forward as we pursue our CSR goals with even more intention,” said John D. Idol, Chairman and Chief Executive Officer of Capri Holdings. “We are pleased with the progress we have made over the past year and look forward to continuing to share the work our Capri community is doing to care for the world around us.”
Capri’s 2022 CSR report builds upon the company’s global, group-wide sustainability strategy which focuses on four foundational pillars – Our Governance, Our World, Our Community and Our Philanthropy. Accomplishments highlighted in the 2022 CSR report include:
Our Governance
- Conducted refreshed environmental, social and corporate governance (ESG) materiality assessment
- Attained 62.5% women and 25% persons of color on Board of Directors
- Announced 10% of leadership’s annual incentive compensation will be tied to individualized ESG goals beginning in 2023
Our World
- Received approval of greenhouse gas (GHG) emissions reduction targets by the Science Based Targets initiative (SBTi). Scope 1 and 2 target was confirmed to align with the 1.5°C pathway and Scope 3 target was confirmed to exceed the minimum ambition for the 2°C pathway and is therefore considered ambitious
- Achieved a 38% reduction in Scope 1 and Scope 2 GHG emissions from Fiscal Year 2019 baseline
- Reaffirmed commitment to renewables through The Fashion Pact collective virtual power purchase agreement (CVPPA)
- Sourced 91% of leather from tanneries certified to the highest environmental standards
- Embraced circulatory through repair and re-commerce initiatives
Our Community
- Scored 90/100 on the Human Rights Campaign Foundation’s Corporate Equality Index
- Certified in U.S. as a Great Place to Work®
- Announced an expansive new scholarship program through The Capri Holdings Foundation for the Advancement of Diversity in Fashion in furtherance of the foundation’s mission to create meaningful opportunities in fashion for historically underrepresented communities
- Joined Empower@Work, an organization focused on empowering women workers, embedding gender equality in business practice and catalyzing systems change in global supply chains
Our Philanthropy
- Donated over 30 million meals through the Michael Kors Watch Hunger Stop philanthropic campaign to date
- Invested $10 million in The Versace Foundation supporting the LGBTQIA+ community
- Supported Women for Women International through The Jimmy Choo Foundation
- Contributed to disaster relief efforts in support of those displaced and suffering due to the war in Ukraine
As a part of Capri’s commitment to transparency, its 2022 CSR report is supported by disclosures aligned with recommendations made by the Task Force on Climate-related Financial Disclosures (TCFD) and with the Sustainability Accounting Standards Board (SASB) framework. The report also includes information on how the company’s CSR activities and strategic focus areas align to the United Nations Sustainable Development Goals and the Ten Principles of the United Nations Global Compact.
For more information on the company’s corporate social responsibility program and to view the full 2022 report, visit CapriHoldings.com/CSR.
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