Last Updated: 2020.12.10
Fast Retailing Recognized with Prestigious 'A' Score for Global Water Security
FAST RETAILING CO., LTD.
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Fast Retailing Co., Ltd. has been recognized for its leadership in corporate sustainability by global environmental non-profit CDP. The company secured a place on CDP's prestigious 'A List' for tackling water security, in recognition of significant demonstrable action to protect water resources, and its leadership on corporate environmental ambition, action and transparency worldwide.
Speaking of the CDP recognition, Yukihiro Nitta, Group Senior Vice President responsible for sustainability at Fast Retailing, said "Sustainability is a foundation of our business, and we continually seek to reduce our environmental impact. Water is integral to our processes, so we strive to reduce water pollution and usage at every stage of the product life cycle, from raw-materials sourcing to manufacturing and consumer use, and to address water-related risk, such as flooding. We are proud to be recognized for these efforts and will continue to prioritize water in collaboration with companies and stakeholders."
Fast Retailing is one of a small number of high-performing companies out of more than 5,800 assessed in CDP's annual environmental disclosure and scoring process. The CDP is widely recognized as the gold standard of corporate environmental transparency and serves as a key indicator for global investment markets on the commitment and performance of publicly-listed corporations in environment, social and corporate governance (ESG). In 2020 alone, over 515 investors, with over US$106 trillion in assets globally, requested companies to disclose data on environmental impact, risks and opportunities through the CDP platform.
The result marks a third consecutive year of improvement for Fast Retailing in the CDP analysis and is the latest in a series of environmental milestones for the company. The CDP rating follows Fast Retailing's recent inclusion in the MSCI Japan ESG Select Leaders Index, an index for institutional investors such as Japan's Government Pension Investment Fund (GPIF) and the Dow Jones Sustainability Indices (DJSI) World Index, one of the world's foremost ESG indices.
To assess companies, CDP employs a detailed and independent methodology, allocating a score of A to D- based on comprehensiveness of disclosure, awareness and management of environmental risks, as well as its demonstration of environmental leadership and of setting meaningful targets. The full methodology and criteria for the A List is available on CDP's website at: https://www.cdp.net/en/companies/companies-scores
Championing its corporate statement of "Changing clothes. Changing conventional wisdom. Change the world," Fast Retailing contributes to the sustainable development of society through its clothing business. During manufacture and retail processes, the company addresses issues relating to factory working environments, human rights, and environmental protection. It promotes reuse and recycling of post-purchase products, advancement of women in the workplace, employment of people with disabilities, and support of refugees around the world. Information about Fast Retailing sustainability activities is available through its website https://www.fastretailing.com/eng/sustainability/.
