Business
The Children’s Place Issues 2021 Annual ESG Report
SECAUCUS, N.J., Oct. 31, 2022 (GLOBE NEWSWIRE) -- The Children’s Place, Inc. (Nasdaq: PLCE), the largest pure-play children’s specialty apparel retailer in
About this update from Children's Place, Inc. (the)
[{"type":"text","content":"SECAUCUS, N.J., Oct. 31, 2022 (GLOBE NEWSWIRE) -- The Children’s Place, Inc. (Nasdaq: PLCE), the largest pure-play children’s specialty apparel retailer in North America, today announced the release of its 2021 Environment, Social and Governance (ESG) Report. The 2021 ESG Report details the Company’s strategic approach to ESG. It sets forth the progress made in fiscal 2021 on the Company’s environmental initiatives, including its science-based goals to reduce greenhouse gas (GHG) emissions, and its measurable targets to increase the use of more sustainable raw materials in products and to reduce the use of water and chemicals in its global supply chain. Some highlights from the Company’s 2021 ESG Report include: A reduction in GHG emissions of 41% against a 2018 baseline in owned and leased operations (scope 1 and scope 2), exceeding the previously announced goal of 30% targeted for 2030. A new GHG reduction goal of 50% for scope 1 and scope 2 market-based emissions by the end of 2030.Over two-thirds of the cotton fibers used in the Company’s apparel are now responsibly sourced with a goal of 100% responsibly sourced cotton by the end of fiscal 2025.The 2021 ESG Report highlights 16 key focus areas for the Company and details its measurable goals and progress related to a number of topics: climate and energy, raw materials, water stewardship, chemical management, waste and circularity, diversity, equity and inclusion, community, and supply chain compliance and worker well-being. Adrian Sherman, Vice President, Environment & Social Responsibility, said, “We are proud of the progress we have made on the environmental and social goals highlighted in our 2021 ESG Report. We believe our efforts have the potential to unlock significant value and new opportunities for our business. While we realize there is much work to be done in achieving the goals we have set, we remain committed to continued progress for the benefit of our customers, our shareholders, our associates, and the communities we impact through our operations.” The 2021 ESG Report details the Company’s continued commitment to social topics, including a focus on diversity, equity and inclusion (DE&I). Jane Elfers, President and CEO said, “Our strong commitment is evident in our industry-leading gender diversity statistics. Over 85 percent of our customers are women and we ...