GUESS Releases FY2020-2021 Sustainability Report with Best Practice for ESG; Achieves Milestone Reasonable Assurance Examinat...
July 20 2021 - 11:00AM
Business Wire
GUESS, a global lifestyle fashion brand, has released “VISION
GUESS” - its fourth sustainability report covering fiscal years
2020 and 2021, written in accordance with the Global Reporting
Initiative (GRI) and Sustainable Accounting Standard Board (SASB)
standards. The publication of VISION GUESS is a milestone
achievement for the company, marking its successful completion of a
reasonable assurance engagement with “Big 4” Accounting Firm KPMG
to examine the metrics and disclosures in its sustainability
report. The sustainability report shares the company’s significant
progress on Environmental, Social, and Governance (ESG) topics
since its first sustainability plan was announced in 2016, and
outlines its vision for sustainability going forward.
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GUESS Releases FY2020-2021 Sustainability
Report with Best Practice for ESG; Achieves Milestone Reasonable
Assurance Examination by a “Big 4” Accounting Firm (Graphic:
Business Wire)
The report covers the three pillars of the GUESS sustainability
plan; operating with integrity, empowering people and protecting
the environment. The company details its significant achievements
since its first sustainability targets were announced, increasing
its eco SMART GUESS denim product offerings by 18%; increasing its
global, certified sustainable materials across brands; and
achieving gender pay parity for both its U.S. Corporate
headquarters and U.S. Retail operations. The report also highlights
the company’s new “GUESS Sustainability Assurance Framework” - a
robust process to collect, review and test sustainability data to
ensure the consistency and comparability of nearly 100 ESG-related
metrics, before sending to its external assurance provider.
“At Guess, we remain highly committed to our three main goals of
our sustainability strategy: 1. Operating with Integrity, 2.
Empowering our People, and 3. Protecting the Environment. Our
report this year, VISION GUESS, highlights our higher standards and
our expanded ESG strategy for the future. We are treating ESG
reporting with a rigor typically reserved for financial reporting
and we are focused on developing the right system, testing and
controls to ensure proper comparability, consistency and
accountability. In this year’s report we included important topics
related to the environment, diversity and inclusion. In our
Company, every decision we make and action we take, are with the
long term in mind,” says Carlos Alberini, Chief Executive
Officer for GUESS?, Inc.
Sustainability targets announced in the company’s new VISION
GUESS plan include replacing virgin polyester with recycled
materials, increasing sustainable denim offerings to 75% within
three years, reducing corporate greenhouse gas emissions by 50% and
supply chain emissions by 30% by 2030. GUESS’s ambitious greenhouse
gas targets have been approved by the Science Based Targets
Initiative, an industry group of over 1,000 businesses leading the
way to a zero carbon economy.
For more information about GUESS’s Sustainability Report, please
visit sustainability.guess.com.
About GUESS?, Inc.
Established in 1981, GUESS began as a jeans company and has
since successfully grown into a global lifestyle brand. Guess?,
Inc. designs, markets, distributes and licenses a lifestyle
collection of contemporary apparel, denim, handbags, watches,
eyewear, footwear and other related consumer products. Guess?
products are distributed through branded Guess? stores as well as
better department and specialty stores around the world. As of May
1, 2021, the Company directly operated 1,041 retail stores in the
Americas, Europe and Asia. The Company’s partners and distributors
operated 539 additional retail stores worldwide. As of May 1, 2021,
the Company and its partners and distributors operated in
approximately 100 countries worldwide. For more information about
the Company, please visit www.guess.com.
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Kaitlyn Quail GUESS?, Inc. 212.852.0568 kquail@guess.com
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