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Global Retailer Joins United Nations Global Compact, Social and Environmental Commitments Tie to UN’s Sustainable Development Goals
NEW ALBANY, Ohio, Aug. 21, 2019 (GLOBE NEWSWIRE) — Abercrombie & Fitch Co. (NYSE: ANF), a leading, global specialty retailer of apparel and accessories, today announced that it has become a participant of the United Nations Global Compact, the world’s largest corporate citizenship and sustainability initiative. The company also announced its new sustainability targets through 2025. Key goals include:
- Responsibly sourcing materials with sustainable processes or from recycled fibers by 2025, including cotton, polyester, viscose, wool, down and linen
- Driving 30 percent water reduction in denim (the company’s highest volume material) production by 2022
- Partnering with its vendor partners on training programs, including human trafficking prevention and health & wellbeing, and capacity building to support the training of 75,000 additional workers by 2022
These targets, and others detailed on its website, align with the UN’s Sustainable Development Goals (SDGs), which address global challenges such as poverty, inequality, climate, environmental degradation, prosperity and peace and justice. The company’s participation in the Compact and its new set of goals build on the retailer’s existing global social and environmental sustainability programs, many of which were started almost 20 years ago.
As a signatory of the Compact, A&F Co. supports and commits to the Compact’s Ten Principles on human rights, labor, environment and anti-corruption. A&F Co. also will participate in two Action Platforms, which advance responsible corporate action and focus on critical issues related to the Compact’s SDGs. Through the “Water Security through Stewardship” and “Reporting on SDGs” platforms, A&F Co. will learn additional best practices to address social, economic and environmental issues related to water and sanitation, as well as methods for capturing, analyzing and reporting performance against the various SDGs, respectively.
“Joining the UN Global Compact and setting our new sustainability targets through 2025 are major steps forward for A&F. This is part of a long-term journey we’re on to ensure that sustainability is truly embedded throughout our entire organization, with the focus of our new goals being on where we can have the greatest positive impact by 2025,” said Fran Horowitz, CEO of Abercrombie & Fitch Co. “Sustainability is an important part of who we are as a company, and to our customers, our employees and our partners. These goals demonstrate our commitment to having an enduring positive impact on the communities we touch around the world.”
As part of its commitment to the Compact, A&F Co. will complete an annual Communication on Progress (COP) submission in 2020. The COP will provide transparency into A&F Co.’s progress towards the UN Global Compact’s Ten Principles. More details on the company’s past, present and future social and environmental sustainability efforts can be found here.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
A&F cautions that any forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) contained herein or made by management or spokespeople of A&F involve risks and uncertainties and are subject to change based on various important factors, many of which may be beyond the Company’s control. Words such as “estimate,” “project,” “plan,” “believe,” “expect,” “anticipate,” “intend,” and similar expressions may identify forward-looking statements. Except as may be required by applicable law, we assume no obligation to publicly update or revise our forward-looking statements. The factors disclosed in “ITEM 1A. RISK FACTORS” of A&F’s Annual Report on Form 10-K for the fiscal year ended February 2, 2019, and in A&F’s subsequently filed quarterly report on Form 10-Q, in some cases have affected, and in the future could affect, the company’s financial performance and could cause actual results for fiscal 2019 and beyond to differ materially from those expressed or implied in any of the forward-looking statements included in this press release or otherwise made by management.
About Abercrombie & Fitch Co.
Abercrombie & Fitch Co. (NYSE: ANF) is a leading, global specialty retailer of apparel and accessories for Men, Women and Kids through three renowned brands. For more than 125 years, the iconic Abercrombie & Fitch brand has outfitted innovators, explorers and entrepreneurs. Today, the brand reflects the updated attitude of modern consumer, while remaining true to its heritage of creating expertly crafted products with an effortless, American style. The Hollister brand epitomizes the liberating and carefree spirit of the endless California summer for the teen market. abercrombie kids creates smart, playful apparel for children ages 5-14, celebrating the wide-eyed wonder of childhood.
The brands share a commitment to offering products of enduring quality and exceptional comfort that allow consumers around the world to express their own individuality and style. The Company operates more than 850 stores under these brands across North America, Europe, Asia and the Middle East, as well as the e-commerce sites www.abercrombie.com and www.hollisterco.com.
About the United Nations Global Compact
As a special initiative of the UN Secretary-General, the United Nations Global Compact works with companies everywhere to align their operations and strategies with ten universal principles in the areas of human rights, labour, environment and anti-corruption. Launched in 2000, the UN Global Compact guides and supports the global business community in advancing UN goals and values through responsible corporate practices. With more than 9,500 companies and 3,000 non-business signatories based in over 160 countries, and 70 Local Networks, it is the largest corporate sustainability initiative in the world.
|Investor Contact:||Media Contact:|
|Pam Quintiliano||Ian Bailey|
|Abercrombie & Fitch Co.||Abercrombie & Fitch Co.|
|(614) 283-6751||(614) 283-6192|
|[email protected]||[email protected]|
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