Business
The Lovesac Company Publishes Inaugural ESG Report
STAMFORD, Conn., Dec. 17, 2021 (GLOBE NEWSWIRE) -- The Lovesac Company (Nasdaq: LOVE) (“Lovesac” or the “Company”), the home furnishing brand best known for
About this update from The Lovesac Company
[{"type":"text","content":"STAMFORD, Conn., Dec. 17, 2021 (GLOBE NEWSWIRE) -- The Lovesac Company (Nasdaq: LOVE) (“Lovesac” or the “Company”), the home furnishing brand best known for its Sactionals, The World's Most Adaptable Couch™, has released its inaugural Environmental, Social, & Governance (“ESG”) Report. The report highlights Lovesac’s priorities and initiatives on environmental stewardship, social commitments, corporate governance, and community service. Shawn Nelson, Chief Executive Officer, stated, “We view ESG as foundational to who we are as a company, how we operate as a team, and the way we approach manufacturing our products. To that end, our inaugural ESG report is reflective of our work over the past several years as a company, and highlights our commitment to making an impact across our omni-channel business model and in the communities we serve. We are very pleased with our ESG accomplishments to-date and have built the framework to continue to deliver against our future ESG goals as we work to create a more sustainable future for our customers, employees, suppliers, and stakeholders.” Lovesac’s ESG framework relies on aspects of the Sustainability Accounting Standards Board (SASB) Building Products and Furnishings standard. Future reporting will align with the Greenhouse Gas Protocol Corporate Accounting and Reporting Standard. Key highlights include: A commitment to begin analyzing the Company’s GHG emissions in alignment with the Green House Gas Protocol Corporate Accounting and Reporting StandardIn the next year, the Company will work to align its ESG strategy with the UN Sustainable Development GoalsActions to develop the Company’s Diversity, Equity, and Inclusion (DEI) practices, including the launching of its DEI Steering Committee and DEI Action CouncilAn enhanced focus on the development of associates by increasing training hours and continuing to recruit top talent The report features the Company’s goal to meet net-zero waste and emissions by 2040 and its Designed For Life™ (“DFL”) principles on inventing and innovating in order to deliver more high-quality, sustainably manufactured product platforms in multiple categories across the home space. This will be paired with the Circle to Consumer™ (“CTC”) philosophy for services and programs that will help it build long-term relationships with its most valued customers. This repo...