Last Updated: 2022.12.14
Fast Retailing Recognized with Double 'A' Score for Transparency on Climate Change and Water Security for the First Time
FAST RETAILING CO., LTD.
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Fast Retailing has been recognized for leadership in corporate transparency and performance on climate change and water security by global environmental non-profit CDP, securing a place on its annual 'A List'. CDP's annual environmental disclosure and scoring process is widely recognized as the gold standard of corporate environmental transparency.
Based on data reported through CDP's 2022 Climate Change and Water Security questionnaires, Fast Retailing is one of a small number of companies that achieved a double 'A', out of more than 10,000 companies scored.
Speaking of the recognition, Yukihiro Nitta, Fast Retailing Group Executive Officer responsible for Sustainability, said, "We are very pleased to be recognized by CDP for our transparency efforts. Everyone at Fast Retailing is committed to demonstrating an entirely new type of apparel industry to the world, where our business and our range of LifeWear products naturally prioritize sustainability. Making the 2022 A List an important milestone."
Fast Retailing is advancing its LifeWear concept-the ultimate in everyday clothing, designed to make everyone's life better-to create apparel that not only emphasizes quality, design, and price, but also meets the definition of "good clothing" from the standpoint of the environment, people, and society. Measures to address climate change are one of the highest priorities of this effort, and in September 2021, Fast Retailing announced targets for reducing greenhouse gas emissions, including across its supply chain, by FY2030.
The company aims to reduce emissions from own operations, such as stores and main offices, by 90%, and from production of raw materials for products, fabric production, and garment manufacturing* by 20% (as compared to FY2019 levels, absolute amounts). Fast Retailing will also derive 100% of the proportion of electricity sourced for own operations from renewable energy by FY2030. These targets have been approved by the international organization Science Based Targets initiative (SBTi) as science-based targets (SBTs) for reducing greenhouse gas emissions in line with what the latest climate science says is needed to meet the goals of the Paris Agreement. The company is steadily promoting emissions reduction initiatives throughout its supply chain to achieve its targets.
* UNIQLO and GU products
Fast Retailing also carries out its Water Action Plan to bring the local water environment into a healthy state, by regularly assessing water risks throughout its value chain, preventing and reducing water pollution and excess water usage-actions and progress highly evaluated by CDP.
More information on how Fast Retailing is responding to climate change is available at:
https://www.fastretailing.com/eng/sustainability/environment/climatechange.html
https://www.fastretailing.com/eng/sustainability/environment/water.html
