GlobalData offers a comprehensive analysis of Esprit Holdings, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Esprit Holdings’s ESG performance. GlobalData’s company profile on Esprit Holdings offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
Esprit Holdings, a global fashion retailer, is committed to reducing emissions. The company recognizes the importance of investing in renewable energy to lower greenhouse gas (GHG) emissions throughout its value chain and reduce operating costs. Esprit also aims to use recyclable or regenerative fibers and materials that are environmentally friendly. The company acknowledges the environmental risks associated with raw materials, such as water scarcity, climate change, and chemical management, as well as social risks like unsafe workplace conditions and exposure to toxic chemicals. As per ESG report 2022, the company’s GHG emissions reported for Scope 1 was 1,323 tCO2e, Scope 2 were 2,806 tCO2e and scope 3 was 317,603 tCO2e.
The company has established a target of reducing greenhouse gas emissions by 30% by 2030, using the baseline year of FY17/18. In 2022, GHG emissions constituted approximately 76% of the baseline value, particularly in terms of the decrease in electricity consumption within Scope 3. Esprit Holdings is actively working to reduce its carbon emissions and GHG emissions. The company is focused on managing its material topics related to emissions, waste, water, and supplier environmental assessment. Esprit complies with relevant laws and regulations regarding air and greenhouse gas emissions, water discharges, and waste generation. The company also screens new suppliers using environmental and social criteria to mitigate negative impacts in the supply chain.
Esprit Holdings has taken steps to reduce emissions and invest in sustainability. The company is a member of the Responsible Leather Initiative, addressing issues in the global leather supply chain, including animal welfare and deforestation. Esprit uses responsible and recycled wool, which reduces water demand and GHG emissions compared to virgin wool. The company also incorporates sustainable materials like linen and hemp, which have low environmental footprints and support biodiversity.
In conclusion, Esprit Holdings has implemented various measures to reduce its carbon and GHG emissions. The company is investing in renewable energy, using recyclable and regenerative materials, and actively managing its material topics related to emissions and waste. Esprit is also focused on supplier environmental assessment and ensuring animal welfare in its supply chain. By prioritizing sustainability and taking concrete actions, Esprit is working towards a more environmentally responsible future.