Britain fashion retailer ASOS announces environmental, social and governance goals
The Channel News Asia reported according to Reuters, Britain's ASOS said on Thursday, it aims to cut its environmental impact, use more sustainable materials and appoint more diverse corporate leaders , joining a growing list of apparel companies setting new ESG targets.
The online fashion retailer also said its environmental, social and governance (ESG) goals include becoming carbon neutral in its direct operations by 2025 and achieving net-zero carbon emissions across its value chain by 2030.
Apparel companies globally are stepping up their focus on ESG as they cater to a growing class of environmentally and socially conscious consumers and investors demand more action from them.
The fashion industry in particular, known for its heavy use of water and chemicals, is facing mounting criticism for causing an estimated 10 per cent of all greenhouse gas emissions.
ASOS said it would also ensure all of its own-brand products and packaging are made from more sustainable or recycled materials by 2030. It already uses "over 80 per cent recycled material" across mailing and garment bags.
The company also vowed to ensure at least 50 per cent female representation and over 15 per cent ethnic minority representation at every leadership level by 2030.
On Wednesday, Primark, one of Europe's biggest fast fashion chains, became the latest apparel company to announce new sustainability targets, vowing to cut its environmental impact by using more recyclable materials.