TORONTO, April 15, 2021 /PRNewswire/ -- Today, Canada Goose published its 2020 Sustainability Report, which highlights the progress made towards its 2025 sustainability goals, sets new ambitious commitments and reaffirms its purpose to keep the planet cold and the people on it warm by strengthening its sustainability commitments and working with communities towards a brighter future for generations to come.
"This year's Sustainability Report builds upon the hard work we started in 2019 and takes it even further," said Gavin Thompson, Vice President of Corporate Citizenship, Canada Goose. "I've been incredibly inspired by our employees' from around the world and their commitment to sustainability and the significant progress we've made towards our aggressive goals that address social, economic, and environmental challenges."
In addition to the goals set forth in Canada Goose's 2019 Sustainability Report, the company has identified new areas in which its business can make a more tangible impact. The 2020 Sustainability Report introduces two new commitments:
Canada Goose commits to transitioning 90 per cent of its materials to Preferred Fibres and Materials (PFMs) by 2025: PFMs, such as recycled and organic fibres, are defined as sustainable alternatives to conventional materials. This commitment ensures Canada Goose will aggressively incorporate more environmentally responsible materials in its outerwear, apparel and accessories.
Canada Goose commits to sustainable solutions in 100 per cent of its packaging by 2025: Sustainable solutions include recycled content and recyclability in packaging used across its manufacturing, direct-to-consumer and marketing operations.
In January, Canada Goose debuted its most sustainable parka to date, the Standard Expedition Parka, which will help set the standard for the future of outerwear. The Standard's design generates 30 per cent less carbon and requires 65 per cent less water during production compared to the in-line Expedition Parka.
"At Canada Goose, our approach to design is always focused on quality, durability and functionality, while never sacrificing on performance," said Niamh McManus, Design Director, Canada Goose. "We design for generations, not seasons, and our new product-focused sustainable commitments further reinforce that approach."
To launch the 2020 Sustainability Report, Canada Goose partnered with world-renowned science educator, Bill Nye. A leading voice in the science community and an environmental advocate, Nye participated in a roundtable event discussing Canada Goose's bold environmental goals and plans to achieve them.
"Climate change is real. We must act now," said Bill Nye, Advisor to Canada Goose. "I am proud to partner with Canada Goose. They are working to keep the planet cold and the people on it warm. Working together, I believe we can bring attention to the need to manufacture products sustainably and responsibly. It's an opportunity for corporate leadership that consumers will recognize and embrace."
Since releasing its inaugural Sustainability Report in April 2020, Canada Goose accomplished several initial goals outlined in its Sustainable Impact Strategy. The brand has achieved carbon neutrality for company operations (Scope 1 and 2 emissions), reaffirming its strategic approach to achieving net zero emissions by 2025; joined the bluesign® raw materials standard as an official SYSTEM Partner, created the Reclaimed Fur Standard as part of its goal to end the purchasing of new fur by 2022 and remains on track to become Responsible Down Standard (RDS) certified by the end of 2021.
Today's announcement builds upon Canada Goose's purpose platform, HUMANATURE, which unites its sustainability and values-based initiatives.
About Canada Goose Founded in 1957 in a small warehouse in Toronto, Canada, Canada Goose (NYSE:GOOS, TSX:GOOS) is a lifestyle brand and a leading manufacturer of performance luxury apparel. Every collection is informed by the rugged demands of the Arctic, ensuring a legacy of functionality is embedded in every product from parkas and rainwear to apparel and accessories. Canada Goose is inspired by relentless innovation and uncompromised craftsmanship, recognized as a leader for its Made in Canada commitment. In 2020, Canada Goose announced HUMANATURE, its purpose platform that unites its sustainability and values-based initiatives, reinforcing its commitment to keep the planet cold and the people on it warm. Canada Goose also owns Baffin, a Canadian designer and manufacturer of performance outdoor and industrial footwear. Visit www.canadagoose.com for more information.
Cautionary Note Regarding Forward-Looking Statements This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as "anticipate," "expect," "plan," "could," "may," "will," "believe," "estimate," "forecast," "goal," "project," and other words of similar meaning. These forward-looking statements address various matters and are necessarily based on a number of opinions, estimates and assumptions that we considered appropriate and reasonable as of the date of this press release. In particular, this press release contains forward-looking statements including, without limitation, with respect to (i) our sustainable impact strategy and vision; (ii) the goals underlying our strategy and our plans to advance such goals; (iii) our plans to manage our environmental impact, including our greenhouse gas emission target, our pledge to convert to Preferred Fibres and Materials, our pledge to convert to sustainable packaging, our plans to use reclaimed fur and cease purchases of new fur, and our commitment to reducing carbon emissions; and (v) the estimated timing to achieve environmental, energy and waste reduction targets.
Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, our expectations regarding industry and seasonal trends, our business plan and growth strategies, including our ability to successfully expand our product lines and expand internationally, global geopolitical events and other disruptions, our ability to forecast inventory requirements, particularly as our direct-to-consumer channel expands, our ability to implement our growth strategies, our ability to keep pace with changing consumer preferences, our ability to maintain the strength of our brand and protect our intellectual property, our ability to accurately forecast our results, risks associated with the impact of pandemics, such as the COVID-19 (coronavirus) outbreak, as well as the risks identified under the heading "Risk Factors" in our Annual Report on Form 20-F for the fiscal year ended March 29, 2020, and filed with the Securities and Exchange Commission ("SEC"), and the securities commissions or similar securities regulatory authorities in each of the provinces and territories of Canada ("Canadian securities regulatory authorities"), as well as the other information we file with the SEC and Canadian securities regulatory authorities. All forward-looking statements contained in this press release are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers are cautioned that forward-looking statements are not guarantees of future performance. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this press release. The forward-looking statements in this press release speak only as of the date of this release, and we undertake no obligation to update or revise any of these statements.