STOCK TITAN

Gap Inc. Releases Its 2021 Environmental, Social, and Governance Report

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary

Gap Inc. has released its 2021 Environmental, Social and Governance (ESG) Report highlighting progress in sustainability and inclusivity across its brands, including Old Navy, Gap, Banana Republic, and Athleta. The report showcases initiatives such as training over 1 million women since 2007 and providing improved water access to 1.5 million through the USAID Women + Water Alliance. The company aims for 100% sustainable cotton by 2030 and has committed to enhancing animal welfare and biodiversity in its sourcing practices. Fiscal year 2021 net sales reached $16.7 billion.

Positive
  • Gap Inc. achieved 100% sustainable cotton use in 2021, targeting 100% regenerative or recycled cotton by 2030.
  • The USAID Women + Water Alliance empowered 1.5 million people with improved water access since 2017.
  • Old Navy's This Way ONward program has hired over 10,600 underserved youth, surpassing halfway to its 2025 goal of 20,000 job opportunities.
Negative
  • None.

The company and its four purpose-led lifestyle brands are delivering on commitments impacting positive change.

SAN FRANCISCO--(BUSINESS WIRE)-- In recognition of Earth Day, we are announcing the release of Gap Inc.’s 2021 Environmental, Social and Governance (ESG) Report. This report reflects the progress that the company and its brands, Old Navy, Gap, Banana Republic and Athleta, made in 2021 toward building a more sustainable and inclusive business. Gap Inc. has aligned its ESG strategy to the pillars of Empowering Women and Human Rights, Enabling Opportunity, and Enriching Communities.

“At Gap Inc., our ESG vision is to be a driving force in the industry, collectively building a more sustainable future for our business, our communities, and the planet,” said Judy Adler, Vice President of ESG at Gap Inc. “We have made meaningful progress toward our sustainability commitments, including achieving our goal to provide training and support to more than 1 million women and girls since 2007 through our innovative Personal Advancement & Career Enhancement (P.A.C.E.) Program. We will continue to adapt and innovate to improve sustainability for our business and our industry in the years ahead.”

Highlights from the Gap Inc. 2021 ESG Report include:

  • The USAID Gap Inc. Women + Water Alliance has empowered 1.5 million people with access to improved drinking water and sanitation since 2017, on its way to reaching 2 million people by 2023.
  • Old Navy’s This Way ONward program, which fuels the next generation of leaders with the skills and confidence they need to succeed in the workplace, is more than halfway to its 2025 goal of providing 20,000 job opportunities by hiring over 10,600 underserved youth since 2007.
  • Gap achieved its 2021 goal of using 100% more sustainable cotton in its products, and is committed to providing 100% regenerative, organic, in conversion to organic, or recycled cotton by 2030. Learn more about the brand’s raw materials here.
  • Banana Republic is committed to continuing to use the Global Responsible Wool Standard, Leather Working Group and Good Cashmere Standard for their fibers sourcing, to maintain biodiversity, improve animal welfare and agricultural practices, and support more responsible production.
  • As of 2021, 100 percent of Athleta’s company-operated stores in North America are offset by renewable electricity from Fern Solar, a 7.5-megawatt offsite solar project in North Carolina. Learn more about the brand’s climate initiatives here.
  • Gap Inc.’s Global Sourcing team has partnered with The Hong Kong Research Institute of Textiles and Apparel on trialing hydroponic farming conditions for growing cotton in an urban environment. This 2021 project won the Silver Award at the 2022 International Exhibition of Inventions Geneva which recognizes inventions and research around the world under patronage of the World Intellectual Property Organization (WIPO), the Swiss Government and the City of Geneva. To learn more about this project, click here.

This report covers Gap Inc.’s global operations for fiscal 2021, which ended on January 29, 2022, unless otherwise noted. To view the full ESG Report and in-depth information about the company’s efforts to be a force for good, for people and the planet, please visit our redesigned ESG website, gapinc.com/sustainability.

About Gap Inc.

Gap Inc., a collection of purpose-led lifestyle brands, is the largest American specialty apparel company offering clothing, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, and Athleta brands. The company uses omni-channel capabilities to bridge the digital world and physical stores to further enhance its shopping experience. Gap Inc. is guided by its purpose, Inclusive, by Design, and takes pride in creating products and experiences its customers love while doing right by its employees, communities, and planet. Gap Inc. products are available for purchase worldwide through company-operated stores, franchise stores, and e-commerce sites. Fiscal year 2021 net sales were $16.7 billion. For more information, please visit www.gapinc.com.

Kalia Beard

press@gap.com

Source: Gap Inc.

The Gap, Inc.

NYSE:GPS

GPS Rankings

GPS Latest News

GPS Stock Data

9.21B
373.51M
40.91%
64.56%
10.27%
Apparel Retail
Retail-family Clothing Stores
Link
United States of America
SAN FRANCISCO