Kontoor Brands Releases 2020 Sustainability Report: Strong Progress in Achieving Company Goals
15 December 2021, Mumbai:
Report outlines Kontoor’s sustainability achievements in 2020 in accordance with GRI & SASB standards. The company is utilizing its unique model of owned manufacturing operations to significantly improve water conservation efforts.
GREENSBORO, N.C.--(BUSINESS WIRE)-- Building on its previous commitments and stated goals, Kontoor Brands, Inc. (NYSE:KTB), a global lifestyle apparel company with a portfolio led by two of the world’s most iconic consumer brands, Wrangler® and Lee®, today released its 2020 Sustainability Report, the second report in the company’s two years as a publicly traded organization. In accordance with the standards of the Global Reporting Initiative (GRI) and Sustainable Accounting Standard Board (SASB), the report details Kontoor’s progress in advancing its sustainability agenda focusing on People, Product and Planet – operating with the highest standards of ethics and transparency, seeking to source products and materials that are sustainable and from partners that share its values.
“Sustainability is core part of our DNA at Kontoor – a foundational element of how we do business around the world,” said Scott Baxter, Board Chair, President and Chief Executive Officer, Kontoor Brands. “While we are pleased with our initial progress outlined in the report, we recognize there is more that we can do. As we move ahead, we are committed to using our scale and purpose-led approach to drive meaningful environmental and social advancements for all of our stakeholders.”
Throughout a volatile 2020 for the apparel industry, Kontoor continued its holistic approach to its sustainability strategy which encompasses the end-to-end product lifecycle and is deeply engrained in the company’s overall business strategy. Kontoor Brands closely manages its supply chain and distribution, and directly owns one-third of its manufacturing operations. The company also leverages its strong relationships with third-party manufacturers and seeks to embed sustainability in all stages of production to improve the overall impact of its products.
“Although our industry faced substantial uncertainty over the last two years, we have used this time to strengthen our resolve to meet our goals and set new ones – for our people, products and the planet,” said Jeff Frye, VP of Procurement, Product Development, Innovation, and Sustainability, Kontoor Brands. “We’re incredibly proud of the progress we have made during this period and have rallied as a team and continue to focus on building a more resilient future.”
Report highlights include:
By deploying innovative water saving and recycling technologies such as Indigood TM, Kontoor has reduced water consumption by 8-plus billion liters since 2008, putting the company on track to achieve its goal of saving 10 billion liters of water by 2025. For the company’s more than 120 million units of apparel and accessories it produced in 2020, Kontoor’s teams sourced 50% of its cotton sustainably, on track to achieve 100% sustainable cotton in all products by 2025.
In alignment with the company’s goal to exclusively work with factories that support worker wellbeing, Kontoor’s teams initiated community development programs in select factories in Bangladesh to provide clean water, sanitation and hygiene facilities and education to benefit 1,200 local workers.
Kontoor is on track to use 100% preferred chemistry by 2025 and expects to announce a science-based climate target for greenhouse emissions in 2022. These goals are supported by a wide array of initiatives across Kontoor Brands’ production chain – from the focus on circularity and diverting materials from landfills to partnering with Business for Social Responsibility’s HERproject to improve access to healthcare knowledge and services for garment workers in Bangladesh. Kontoor is aiming to not only set and meet its own ambitious goals, but also to apply lessons learned and best practices transparently so that others can bring these innovations to life in their own manufacturing operations.
Kontoor Brands’ 2020 Sustainability Report has been prepared in accordance with the Global Reporting Initiative (GRI) Sustainability Reporting Standards and the SASB Apparel, Accessories and Footwear Industry Standard. To read the full report or to find additional information about Kontoor Brands’ sustainability approach and goals, visit KontoorBrands.com/Sustainability.
About Kontoor Brands Kontoor Brands, Inc. (NYSE: KTB) is a global lifestyle apparel company, with a portfolio led by two of the world’s most iconic consumer brands: Wrangler® and Lee®. Kontoor designs, manufactures and distributes superior high-quality products that look good and fit right, giving people around the world the freedom and confidence to express themselves. Kontoor Brands is a purpose-led organization focused on leveraging its global platform, strategic sourcing model and best-in-class supply chain to drive brand growth and deliver long-term value for its stakeholders. For more information about Kontoor Brands please visit www.KontoorBrands.com.
This press release may include “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, these forward-looking statements can be identified by the use of words such as “may,” “might,” “will,” “should,” “expects,” “plans,” “goal,” “target,” “mission,” “strategy,” vision,” “roadmap,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative version of these words or other comparable words. Such forward- looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results to be materially different from any future results expressed or implied by such forward-looking statements. Any statements that refer to expectations or other characterizations of future events or circumstances, such as statements about Kontoor’s sustainability commitments, objectives, targets, and plans, as well as our progress towards those goals are forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control and are difficult to predict. Risks and uncertainties include:
assumptions not being realized; evolving government regulations; our expansion into new products, services, technologies, and geographic regions; scientific or technological developments; evolving sustainability strategies; economic, competitive, technological, and public health factors affecting our operations, markets, products, services and prices; or other changes in circumstances; and the factors set forth under “Risk Factors” in Kontoor’s Annual Report on Form 10-K for the fiscal year ended January 2, 2021 and Kontoor’s Quarterly Report on Form 10-Q for the quarter ended October 2, 2021. You are cautioned not to place undue reliance on these forward-looking statements. Kontoor undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as required by law.
BUSINESS WIRE (The news article has not been edited by DFU Publications staff)
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