Energy Efficiency, GHG Emissions, Industrial - August 21, 2023
Gildan Activewear Decreases Emissions by 10.9%
Gildan Activewear Inc. tied 25% of its senior executives’ strategic objectives to the company's annual short-term incentive plan to support the advancement of ESG targets, lowered absolute Scope 1 and 2 GHG emissions by 10.9% compared to a 2018 base year, and included sustainability-linked terms in its existing $1 billion revolving credit facility.
The apparel company also published its first stand-alone Climate Change Disclosure Report.
Gildan provided details in its latest Environmental, Social and Governance (ESG) report, marking the company’s 19th year of public ESG disclosures.
“Looking back at 2022, I am pleased with our continued commitment to ESG across our operations and our enhanced processes and cross-functional collaboration and accountability,” says Glenn J. Chamandy, President and CEO of Gildan, in a statement. “ESG is one of the three core pillars of our Gildan Sustainable Growth (GSG) business strategy, and as we continue our journey towards achieving our 2030 ESG targets, we are committed to delivering and reporting on our progress.”
In 2023, the Science Based Targets initiative (SBTi) validated Gildan’s 2030 near-term targets to reduce Scope 1 and 2 GHG emissions by 30% by 2030 from a 2018 base year. The SBTi also validated Gildan’s target to reduce Scope 3 emissions by 13.5% by 2030 from a 2019 base year.