PVH Corp. Releases 2022 Corporate Responsibility Report

Rhea-AI Summary

PVH Corp. releases its 2022 Corporate Responsibility report, highlighting an evolution of the Forward Fashion strategy. The report focuses on accelerating climate action, advancing human rights, and championing inclusion and diversity. PVH has made progress in areas such as climate risk analysis, renewable energy usage, greenhouse gas emissions reduction, and workplace safety improvement. They have also launched mentorship programs and funded initiatives to address lack of awareness and access to fashion industry opportunities for underrepresented communities.

Positive

• PVH conducted a climate risk scenario analysis and enhanced carbon accounting capabilities.
• PVH derived 60% of the power for owned-and-operated facilities from renewable energy.
• PVH partnered with suppliers to set greenhouse gas emissions reduction targets.
• PVH launched a sustainable supply chain financing program.
• The PVH Foundation committed $10 million to the Apparel Impact Institute’s Fashion Climate Fund.
• PVH signed the Pakistan Accord to improve workplace safety in the fashion industry.
• PVH initiated a five-year, $5 million partnership in Bangladesh for women's development programs.
• PVH signed the Dindigul Agreement to eradicate gender-based violence in southern India.
• PVH piloted a global mentorship program and required I&D leadership goals for managers.
• The PVH Foundation funded programs totaling $1.37 million to address lack of awareness and access to fashion industry opportunities.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- PVH Corp. (NYSE: PVH) today released its 2022 Corporate Responsibility report that highlights an evolution of the Forward Fashion strategy to focus on three areas – accelerate climate action, advance human rights, and champion inclusion and diversity – underpinned by the Company’s existing time-bound commitments.

PVH’s long-term Forward Fashion corporate responsibility strategy plays an increasingly important role as part of its PVH+ Plan and the vision to build Calvin Klein and TOMMY HILFIGER into the most desirable lifestyle brands in the world and make PVH one of the highest performing brand groups in the apparel sector.

“We’re encouraged by the progress we’ve made in 2022 to accelerate climate action, advance human rights and champion inclusion and diversity. While we’re proud of the impact we’ve made so far, we are focused on the hard work ahead to deliver on our long-term Forward Fashion strategy,” said Rick Relinger, Chief Sustainability Officer, PVH Corp.

Some notable highlights from the report include:

Accelerate Climate Action

• For the first time, conducted a climate risk scenario analysis and enhanced carbon accounting capabilities
• Derived 60% of the power for owned-and-operated facilities from the use and support of renewable energy
• Partnered with suppliers to set their own greenhouse gas emissions reduction targets and develop action plans to achieve those targets
• Launched PVH’s first sustainable supply chain financing program that provides suppliers with better financing rates based on their sustainability performance
• The PVH Foundation announced a $10 million commitment to the Apparel Impact Institute’s Fashion Climate Fund to enable suppliers’ transition to renewable electricity, improve energy efficiency, eliminate coal in manufacturing, and scale sustainable materials

Advance Human Rights

• Signed the Pakistan Accord that will extend legally binding agreements between fashion brands and global trade unions to improve workplace safety in the fashion industry
• Launched a five-year, $5 million partnership in Bangladesh to provide professional and life skills development programs to 100,000 women, complementing the work in Tunisia, Vietnam, India and Sri Lanka
• Signed the Dindigul Agreement with a local women-led union to eradicate gender-based violence in southern India

Champion Inclusion and Diversity

• Piloted PVH’s first ever global mentorship program for women, racially and ethnically diverse associates and other underrepresented groups to increase retention and development
• Required all people managers to include an I&D leadership goal as part of their performance and development process to create a more inclusive culture
• The PVH Foundation funded programs totaling $1.37 million to address lack of awareness, and access to fashion industry opportunities for underrepresented communities

Click here to read the full report.

About PVH Corp.

PVH is one of the world’s largest and most admired fashion companies, connecting with consumers in over 40 countries. Our global iconic brands include Calvin Klein and TOMMY HILFIGER. Our 140-year history is built on the strength of our brands, our team and our commitment to drive fashion forward for good. That’s the Power of Us. That’s the Power of PVH.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20230817600190/en/

Media:

communications@pvh.com

Source: PVH Corp.

FAQ

What is the focus of PVH Corp.'s 2022 Corporate Responsibility report?

The report focuses on accelerating climate action, advancing human rights, and championing inclusion and diversity.

What are some highlights from the report?

Some highlights include conducting a climate risk scenario analysis, using renewable energy for owned-and-operated facilities, partnering with suppliers to set emissions reduction targets, launching a sustainable supply chain financing program, and committing $10 million to the Fashion Climate Fund.

What agreements did PVH Corp. sign to improve workplace safety and eradicate gender-based violence?

PVH signed the Pakistan Accord to improve workplace safety in the fashion industry and the Dindigul Agreement to eradicate gender-based violence in southern India.

What initiatives did PVH Corp. undertake to promote inclusion and diversity?

PVH initiated a global mentorship program, required I&D leadership goals for managers, and funded programs to address lack of awareness and access to fashion industry opportunities.