Sustainability strategy also includes commitments to reclaimed fur, Responsible Down Standard, and elimination of single-use plastics
TORONTO, April 22, 2020 /PRNewswire/ - Today, Canada Goose (NYSE/TSX: GOOS) launched its Sustainable Impact Strategy outlined in the company's first-ever Sustainability Report. Driven by its long-standing commitment to keep the planet cool and the people on it warm, the accelerated strategy includes tangible commitments supporting four key UN Sustainable Development Goals (SDGs), to ensure a sustainable future for generations to come.
As part of its Sustainable Impact Strategy, Canada Goose outlines key commitments:
- Carbon Neutrality: Net zero direct and indirect (Scope 1 and 2) greenhouse gas emissions by 2025, through aggressive and tangible action plans which aim to reduce emissions by more than 80 per cent from current levels.
- Reclaimed Fur: In 2022, Canada Goose plans to introduce reclaimed fur into its supply chain, which includes beginning to manufacture parkas using reclaimed fur and ending the purchasing of new fur. The company also plans to launch a consumer buy-back program for fur in the months ahead.
- Responsible Down Standard (RDS): In 2019, in partnership with Textile Exchange, the company completed third-party compliance audits at 100 per cent of its manufacturing facilities and commits to being 100 per cent RDS-certified by 2021.
- bluesign®: Commit to reach 90 per cent of Canada Goose fabrics as bluesign® approved for responsible and sustainable practices by 2025, increasing from 32 per cent in 2019.
- Plastic-Free: Eliminating single-use plastics in all Canada Goose owned or controlled facilities.
Sustainability has been a foundational part of the Canada Goose business model for more than 60 years, starting with its unwavering commitment to making best-in-class products using highest quality materials and craftsmanship. The company's 2019 Sustainability Report marks its first step in measuring and publishing its global environmental and social impact, and new and ongoing commitments in support of four key UN SDGs.
The inaugural report also highlights the company's long-standing global citizenship initiatives including its Polar Bears International (PBI) collection, the Canada Goose Resource Centres Program and Project Atigi, all aimed at supporting Canada's Northern communities. As well, the report details innovative employee-driven sustainability initiatives, giving programs, and impactful commitments to reduce its environmental footprint and transform operations.
"We have always believed in building a business that is good for our team, for the communities we're a part of and for the planet, for generations to come," said Dani Reiss, President & CEO, Canada Goose. "No matter how much we've done over the last 60 years, we need to do more – the world can't wait. Our aggressive commitments outlined in our first Sustainability Report are the steps we're taking to transform the way we do business and ensure we are doing everything we can to create the future we want to see."
As part of its accelerated Sustainable Impact Strategy, Canada Goose also announced it achieved carbon neutrality as of March 2020 through investments in strategic offsetting projects, equivalent to 200% of its annual greenhouse gas emissions. The company will continue to offset at this level as it continues to transform business operations to achieve its 80 per cent emissions reduction targets by 2025.
To read the full report, visit: canadagoose.com/sustainability/
About Canada Goose
Founded in a small warehouse in Toronto, Canada in 1957, Canada Goose has grown into one of the world's leading makers of performance luxury apparel. Every collection is informed by the rugged demands of the Arctic and inspired by relentless innovation and uncompromised craftsmanship. From the coldest places on Earth to global fashion capitals, people are proud to wear Canada Goose products. Canada Goose is a recognized leader for its Made in Canada commitment, and is a long-time partner of Polar Bears International. Visit 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 reduce waste and plastic use, 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 31, 2019, 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.
SOURCE Canada Goose