On Releases its 2022 Impact Progress Report

Rhea-AI Summary

On makes strides against ambitious sustainability goals, increases use of recycled polyester to 85%

Positive

• The company increased the use of recycled polyester in its products to 85%

Negative

• None.

• In its third report since 2019, On makes strides against ambitious sustainability goals
• The company increased the use of recycled polyester in its products to 85% and, since 2019 decreased its Scope 3 emissions per gross profit by 12%
• 30% of the materials used across all products were fossil-free, and 64% of the materials used in apparel and accessories were fossil-free*
• Through Right to Run, On partners with 19 organizations globally to tackle barriers to movement

ZURICH, Switzerland--(BUSINESS WIRE)-- Swiss sportswear brand On today published its 2022 Impact Progress Report, highlighting its latest achievements and ambitious targets for a greener future. Today's report builds on goals set in 2019 as part of On's inaugural Impact Progress Report.

On highlights two significant areas of advancement in 2022. Compared to 2019, the brand decreased CO2eq emissions per unit of value added by 12%. In addition, On increased the use of recycled polyester in its products to 85%, bringing it one step closer to achieving its goal of 100% recycled polyester and polyamide in 2024. On also aims to use 100% recycled, organic, or petrol-free cotton by 2024. In 2022, 30% of the materials On used across all product categories were fossil-free. In apparel and accessories, 64% of materials used were fossil-free.

On has set ambitious targets to reduce its greenhouse gas emissions. By 2030, On aims to achieve a 46% absolute reduction in Scope 1 and 2 emissions and a 55% economic intensity reduction in Scope 3 emissions.

Begum Kurkcu, Head of ESG at On: “We’re incredibly proud of our positive trajectory toward achieving our sustainability targets. We’re proving that we can grow our business and continue to put the environment first. This is extraordinary given the tremendous growth our company is experiencing and our expanded physical footprint with new stores and offices.”

In 2022, On set out to help their partners build safer workplaces, cleaner supply chains, and move away from coal. Today, a third of On’s Tier 1 suppliers use renewable energy. On aims for all their strategic Tier 1 partners to be fully powered by renewable energy by 2027.

On envisions a fossil-free future and regularly pilots new business models that advance circularity. This includes resale opportunities, product subscription services, and paths for consumers to close the loop when their products reach the end of their life. On’s strategy focuses on Cyclon™, its subscription-based circularity program, and Onward™, its pilot re-commerce program. To accelerate its circular journey, On is now a member of the Ellen MacArthur Foundation, the leading think-tank on the circular economy.

Ignite the human spirit through movement
At On, everything is driven by a mission to ignite the human spirit through movement. This mission inspired On to create Right to Run, a social impact program that tackles barriers to movement for communities around the world – from access and inclusion to safety.

In the initiative’s first three years, On impacts people worldwide through long-term support, one-time giving, volunteerism, product donations, and more.

Today, On partners with 19 organizations globally - nearly double the reach from just two years ago. So far in 2023, On has donated 14,000 units of product. That means in the first half of 2023, On has already donated more than 8 times the amount of product the brand contributed in 2022, with even more donations planned throughout the year.

Overview

• For a summary of On’s sustainability goals, including what’s to come: click here.
• Full 2022 Impact Progress Report: click here
• High-res images for download: click here

About On

On was born in the Swiss Alps with one goal: to revolutionize the sensation of running by empowering all to run on clouds. Thirteen years after market launch, On delivers industry-disrupting innovation in premium footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. Fueled by customer-recommendation, On’s award-winning CloudTec® innovation, purposeful design and groundbreaking strides in sportswear’s circular economy have attracted a fast-growing global fanbase — inspiring humans to explore, discover and dream on.

On is present in more than 60 countries globally and engages with a digital community on www.on.com.

*On classes the following as acceptable fossil-free materials: third-party certified conventional recycled materials, advanced recycled materials, novel bio-based and carbon emission based polymers, as well as natural materials, ideally from regenerative sources, such as natural rubber, man-made cellulosics, wool or cotton.

Source: On
Category: Earnings

View source version on businesswire.com: https://www.businesswire.com/news/home/20230904420125/en/

Investor Contact:

On Holding AG

Jerrit Peter

investorrelations@on.com

or

ICR, Inc.

Brendon Frey

brendon.frey@icrinc.com

Media Contact:

On Holding AG

Vesna Stimac

press@on.com

Source: ON