VF Corporation Publishes New Made for Change Sustainability & Responsibility Report Revealing Achievements in People, Planet and Product Commitments and Sets a Dozen Ambitious New Goals

DENVER--(BUSINESS WIRE)-- VF Corporation (NYSE: VFC), a global leader in branded lifestyle apparel, footwear and accessories, published its latest Made for Change sustainability and responsibility report today. With action and progress at the core of its message, the report highlights VF’s advancement toward achieving its commitments to better both people and the planet, including progress toward its ambitious science-based targets. The report also showcases VF’s leadership in driving measurable, industry-wide progress against environmental and social challenges.

“VF Corporation and our family of brands strive to be more than just an apparel and footwear company. Collectively, we work to be a leading global citizen, setting a high bar for corporate sustainability and responsibility,” said Sean Cady, Vice President, Global Sustainability, Responsibility and Trade, VF Corporation. “From our owned offices to our partner factories around the world, we use our scale and resources to take actions that advance meaningful and measurable progress.”

The latest report, Made for Change, is VF’s fourth sustainability and responsibility report and has three primary areas of focus: People, Planet and Product, which include worker development, gender parity, carbon emissions, waste and plastic reduction, responsible sourcing of materials, recycled and regenerative supply chains, and chemicals. In line with its commitment to continuous improvement, the company is also publishing 12 new ambitious goals in the report.

“VF is committed to fueling change in the apparel and footwear industries. We believe there is a reciprocal relationship between purpose and profit, and when we get it right, we create a virtuous cycle that positively impacts the world and our bottom line,” said Cady. “We’re proud of our work to date and know there is more work to do in this space independently and collaboratively with the global apparel industry and beyond. We’re confident we can drive continued progress while simultaneously delivering products that consumers desire.”

Report highlights include:

People:

• Worker and Community Development (WCD): Through its WCD programs, VF provided support to 290,000 people through FY2020 and since inception nearly 550,000 workers total as the company strives to achieve its goal of improving the lives of one million workers and their communities by 2025 and two million by 2030.
• Worker well-being: VF has announced ambitious worker rights commitments that aim to promote dignity, social dialogue and equal opportunities for people across its supply chain.
• Workforce Inclusion, Diversity, Equity and Action (IDEA): At end of FY2020, 375+ leaders have been trained to foster inclusion and address unconscious bias.
• Equal Pay: By 2024, assess and resolve any identified pay gaps for associates, sponsored athletes, and influencers across the organization through pay equity analysis and review of pay practices.
• Community Impact: In fiscal year 2020, the VF Foundation donated $6.2M+ to 72 community partners, including toward COVID-19 relief efforts.

Planet:

• Scope 1 & 2 Emissions: By sourcing renewable energy and implementing energy efficiency initiatives VF achieved a 17% reduction toward its commitment of an absolute reduction of Scope 1 and 2 greenhouse gas (GHG) emissions of 55% by 2030 from a 2017 baseline.
• Scope 3 Emissions: Over 50 million metric tons of GHG reductions were achieved through supplier factory sustainability programs. And despite experiencing a significant growth in business between 2017 and 2020, VF saw no corresponding increase in Scope 3 emissions, supporting its commitment to an absolute reduction of Scope 3 GHG emissions¹ of 30% by 2030 from a 2017 baseline.
• Renewable Energy: 29% of VF’s electric power at owned-and-operated facilities is powered by renewable energy sources. By 2025, the goal is to source 100% renewable energy across all owned-and-operated facilities.
• Waste Reduction: 72% of distribution centers are verified zero-waste² and will reach 100% verification at the end of calendar year 2021.

Product:

• Sustainable Materials: 75% of all cotton purchased by VF was grown in the U.S., Australia or under a third-party sustainability scheme. VF’s goal is to reach 100% by 2025.
• Traceability: VF set a new goal of tracing five of VF’s key materials through 100% of the supply chain by 2027. The company has already completed the mapping of all leather and cotton sourced by VF brands.
• Sustainable Packaging: VF is progressing toward the elimination of single-use plastic packaging by 2025.

VF’s FY2020 sustainability and responsibility report was prepared in alignment with the Global Reporting Initiative (GRI) standards, the Sustainability Accounting Standards Board (SASB) standards, and serves as VF’s annual communication on progress for the United Nations Global Compact. Unless otherwise stated, all data reported is for VF’s Fiscal Year 2020 (April 2019 - March 2020).

About VF Corporation

Founded in 1899, VF Corporation is one of the world’s largest apparel, footwear and accessories companies connecting people to the lifestyles, activities and experiences they cherish most through a family of iconic outdoor, active and workwear brands including Vans®, The North Face®, Timberland® and Dickies®. Our purpose is to power movements of sustainable and active lifestyles for the betterment of people and our planet. We connect this purpose with a relentless drive to succeed to create value for all stakeholders and use our company as a force for good. For more information, please visit vfc.com.

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¹ VF has set a commitment to achieve an absolute reduction of Scope 3 GHG emissions from purchased goods and services and upstream transportation of 30% by 2030 from a 2017 baseline.
² Based on a diversion rate of 95% or greater

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Molly Cuffe

Director, Corporate Responsibility Communications

VF Corporation

Molly_Cuffe@vfc.com

Source: VF Corporation