Commercial, Energy Efficiency, GHG Emissions - July 10, 2023
GUESS Working With Suppliers to Lower Scope 3 Emissions
GUESS is working with its suppliers to lower reduce Scope 3 emissions with a target of 30% by 2030. The company is also elevating its design portfolio to have 75% of GUESS global apparel materials be environmentally preferred by 2030.
The apparel and accessories manufacturer is also increasing partnerships to repair, resell, and upcycle in key markets that drive a circular economy (2025.
Since FY2019, GUESS lowered its Scope 1 and 2 GHG emissions (market based) by 50% by making its stores more energy-efficient while increasing the use of renewable energy through the purchase of renewable energy credits (RECs) .
From FY2022, GUESS partnered with an external provider to purchase renewable energy attribute certificates across multiple markets to reduce our Scope 2 emissions. A new strategy will set out plans to reduce the number of credits purchased and plans to implement an impactful renewable energy purchasing strategy.
In FY2022 GUESS saw its Scope 3 (Category 1 – Purchased Goods and Services) emissions increase proportionally with the increase in production and sales during that same fiscal year.
Details were provided in its FY 2022-2023 Environmental, Social and Governance (ESG) Report, “Our Best Today, Better Tomorrow.”
“For well over a decade, GUESS has embedded environmental, social and governance priorities into all aspects of our business – and we couldn’t be prouder of the progress we have made as a result,” said Carlos Alberini, CEO and Director, GUESS, in a statement. “Looking ahead, we continue to anticipate a more heavily regulated environment for ESG practices, with an increased focus on transparency, integrity and accuracy in reporting ESG data.”
GUESS’ ESG Report is prepared in accordance with globally recognized frameworks, including the Global Reporting Initiative (GRI) Universal Standards, the Sustainability Accounting Standards Board (SASB), the GHG Protocol, while referencing the United Nations Sustainable Development Goals (SDGs). GUESS has continued to obtain reasonable assurance from a third-party assurance provider.
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