Gildan Celebrates Two Decades of Sustainability Reporting With the Release of its 2023 ESG Report

Rhea-AI Summary

Gildan Activewear (GIL) has released its 20th Environmental, Social, and Governance (ESG) report, marking two decades of ESG reporting.

The 2023 report showcases Gildan's progress towards its Next Generation ESG strategy and 2030 targets. Highlights include achievements like the publication of the first Corporate Citizenship Report in 2004, accreditation by the Fair Labor Association in 2007, and aligning with the Global Reporting Initiative framework in 2008.

The company has also disclosed ESG data according to the Sustainability Accounting Standards Board standards since 2021 and released its standalone Climate Change Disclosure Report in 2022.

CEO Glenn Chamandy emphasized the integral role of ESG in Gildan's operations and its commitment to sustainable practices as the company celebrates its 40th anniversary.

Positive

• Released 20th ESG report, marking two decades of sustainability reporting, which may enhance investor confidence.
• Progress towards 2030 targets under the Next Generation ESG strategy, indicating long-term commitment to sustainability.
• Accreditation and alignment with recognized frameworks and standards (FLA, GRI, SASB, TCFD), demonstrating credibility in ESG practices.
• History of ESG milestones, reflecting sustained and consistent efforts in corporate responsibility.

Negative

• None.

MONTREAL, June 18, 2024 (GLOBE NEWSWIRE) -- Gildan Activewear Inc. (GIL: TSX and NYSE) (“Gildan” or the “Company”) is pleased to announce the publication of its 20^th Environmental, Social, and Governance (ESG) report, marking a significant milestone in the Company’s long history of public ESG disclosures. The 2023 report highlights Gildan’s continued progress against key targets, two years into the implementation of its Next Generation ESG strategy and 2030 targets.

“ESG has been integral to how we operate for many years and is one of the three core pillars of the Gildan Sustainable Growth (GSG) strategy, reflecting our commitment to creating enduring value for all stakeholders,” said Glenn Chamandy, President and CEO of Gildan. “As our Company celebrates its 40^th anniversary this year, as well as two decades of ESG reporting, I am proud of our progress in the area of sustainability and of this report, which highlights our dedication to ESG principles. We remain steadfast in our commitment to continue to make apparel with respect.”

Gildan’s ESG journey began in the early 2000s, and since then, the Company has achieved many ESG reporting milestones, including:

• The publication of its first Corporate Citizenship Report in 2004;
• The accreditation of its social compliance program by the Fair Labor Association (FLA) in 2007;
• Aligning to sustainability reporting using the Global Reporting Initiative (GRI) framework starting in 2008;
• Conducting its first materiality assessment in 2014;
• Aligning commitments with the UN Sustainability Development Goals in 2017;
• Disclosing ESG data according to the Sustainability Accounting Standards Board (SASB) standards since 2021;
• The publication of its first stand-alone Climate Change Disclosure Report in alignment with the Task Force on Climate-related Financial Disclosures (TCFD) in 2022.
  

Read the full 2023 ESG Report here.

About Gildan

Gildan is a leading manufacturer of everyday basic apparel. The Company’s product offering includes activewear, underwear and socks, sold to a broad range of customers, including wholesale distributors, screenprinters or embellishers, as well as to retailers that sell to consumers through their physical stores and/or e-commerce platforms and to global lifestyle brand companies. The Company markets its products in North America, Europe, Asia Pacific, and Latin America, under a strong portfolio of Company-owned brands including Gildan^®, American Apparel^®, Comfort Colors^®, GOLDTOE^®, and Peds^®.

Gildan owns and operates vertically integrated, large-scale manufacturing facilities which are primarily located in Central America, the Caribbean, North America, and Bangladesh. Gildan operates with a strong commitment to industry-leading labour, environmental, and governance practices throughout its supply chain in accordance with its comprehensive ESG program embedded in the Company's long-term business strategy. More information about the Company and its ESG practices and initiatives can be found at www.gildancorp.com.

Investor inquiries: Jessy Hayem, CFA Vice-President, Head of Investor Relations (514) 744-8511 jhayem@gildan.com

Media inquiries: Genevieve Gosselin Director, Global Communications and Corporate Marketing (514) 343-8814 ggosselin@gildan.com

FAQ

What did Gildan Activewear (GIL) announce in its latest press release?

Gildan Activewear (GIL) announced the release of its 20th Environmental, Social, and Governance (ESG) report for 2023, marking two decades of ESG reporting.

What are the key highlights of Gildan's 2023 ESG report?

The 2023 ESG report highlights Gildan's progress towards its Next Generation ESG strategy and 2030 targets, including accreditation by the Fair Labor Association and alignment with the Global Reporting Initiative framework.

How long has Gildan (GIL) been reporting on ESG?

Gildan (GIL) has been reporting on ESG for two decades, starting with the publication of its first Corporate Citizenship Report in 2004.

What frameworks and standards does Gildan (GIL) align with in its ESG reporting?

Gildan (GIL) aligns its ESG reporting with the Fair Labor Association, Global Reporting Initiative, Sustainability Accounting Standards Board, and the Task Force on Climate-related Financial Disclosures.

What significance does the 2023 ESG report hold for Gildan (GIL)?

The 2023 ESG report marks Gildan's 20th anniversary of ESG reporting and showcases the company's ongoing commitment to sustainable practices as part of its Next Generation ESG strategy and 2030 targets.