Tapestry Inc, the parent company of popular fashion brands Kate Spade, Coach, and Stuart Weitzman, has recently published its eighth annual corporate responsibility report. This report highlights the significant social and environmental advancements made by the company during the 2020 fiscal year. What sets this particular report apart is its inclusion of recommendations from the Task Force on Climate-Related Financial Disclosures (TCFD) and the Sustainable Accounting Standards Boards (SASB).
The report showcases Tapestry’s notable achievements in various key areas, including equity, inclusion, and diversity; supply chain traceability; greenhouse gas emissions; and community support. Despite the unprecedented challenges faced over the past year, Tapestry has not only maintained its existing commitments but has also expanded its actions to create a more inclusive, sustainable, and safe world.
Joanne Crevoiserat, CEO of Tapestry, expressed her pride in the company’s global teams, commending their unwavering passion, agility, and resilience. One of Tapestry’s environmental goals was to achieve 95% traceability and mapping of its raw materials through supply chain mapping, a goal that has been initiated and is underway. Additionally, the company has reached an impressive 87% landfill diversion rate for its corporate and distribution center locations. Furthermore, Tapestry has increased its use of leather from Silver- or Gold-rated Leather Working Group tanneries to 67%, a testament to its commitment to sustainable sourcing.
In terms of social initiatives, Tapestry has taken several steps to foster diversity and inclusion within its workforce. It launched an Inclusion Council dedicated to increasing the representation of individuals with diverse perspectives at all levels of the business. The company also provided inclusive eLearning training to 92% of store managers, 97% of leadership, and 96% of its US corporate employees. As a result of these efforts, Tapestry was included in Forbes’ 2020 Best Employers for Diversity List for the third consecutive year and received a perfect score of 100 on the Human Rights Campaign Corporate Equality Index for the sixth consecutive year.
Tapestry’s commitment to supporting communities is evident through its charitable giving initiatives. The company, along with its brands and foundations, has pledged over $28 million in charitable donations. This demonstrates its dedication to making a positive impact and improving the lives of those in need.
Overall, Tapestry’s latest corporate responsibility report highlights its commitment to driving positive change. The company has not only made strides in environmental sustainability but has also shown a strong dedication to fostering inclusivity, diversity, and community support. By implementing the recommendations from TCFD and SASB, Tapestry sets a powerful example for the fashion industry and beyond.
Useful links:
– Tapestry Inc Corporate Responsibility
– Kate Spade Corporate Responsibility
