Gildan Earns Accolades For ESG Accomplishments
Gildan Activewear (PPAI 250187, S13) recently published its first stand-alone climate change disclosure report, part of a focus on environmental issues at the Montreal-based supplier that earned it a place on Corporate Knights’ 2023 Global 100 list of the world’s most sustainable corporations for the second consecutive year.
The Climate Change Disclosure Report is structured in accordance with the Task Force on Climate-Related Financial Disclosures (TCFD) recommendations. It illustrates the efforts Gildan undertakes to assess, prepare and integrate climate change processes.
- The company also cites the report as a significant step in its goal of fully aligning with the TCFD framework by 2025, one of Gildan’s commitments under its Next Generation ESG strategy.
“Gildan has been monitoring and addressing climate-related risks and opportunities for over 15 years and the TCFD framework allows us to better understand our physical and transitional risks, as well as opportunities to enhance our resiliency over the long-run,” said Peter Iliopoulos, senior vice-president, taxation, sustainability, and governmental affairs at Gildan.
We just released our first stand-alone Climate Change Disclosure Report highlighting how we assess and integrate climate-related matters into our business processes. This represents a significant step towards fully aligning with the TCFD framework by 2025: https://t.co/fyMdQgn7Zp pic.twitter.com/hR662f1ZPm— Gildan (@gildancorp) December 21, 2022
Gildan operates manufacturing facilities in Central America, the Caribbean, North America, and Bangladesh. Its environmental, social, and governance practices throughout its supply chain – in accordance with the ESG program integrated into the company’s long-term business strategy – has earned it the No. 60 spot on Corporate Knight’s 2023 Global 100 list.
- Last year, Gildan was the only apparel manufacturer on the Corporate Knights list last year, ranking No. 79.
- In 2022 Gildan was also named to the Dow Jones Sustainability North America Index for the 10th consecutive year, and for the third time, it was included in CDP’s Leadership Band in its 2022 Climate Change report.
“We are pleased to be recognized by Corporate Knights once more, demonstrating Gildan’s strong commitment to ESG,” says Glenn Chamandy, president and CEO of Gildan. “Our increased ranking reflects our dedication and hard work in developing and advancing our Next Generation ESG strategy over the past yea,r which includes increasing gender diversity, focusing on sustainable investments, employee safety and linking executive compensation to ESG targets, amongst other initiatives.
“Under this strategy, we are driving ESG further into our business and remain committed to the path ahead to ensure that our products are made with respect for our people, the environment, and our communities from start to finish.”
Corporate Knights’ ranking of the world’s 100 most sustainable corporations is based on an in-depth assessment of nearly 7,000 public companies with revenues of over $1 billion.
- The assessment methodology assesses up to 25 quantitative key performance indicators including sustainable revenue and investment, carbon productivity, and racial and gender diversity.