Capri Holdings publishes update of CSR goals, receives SBTi backing

Luxury conglomerate Capri Holdings has released its latest Corporate Social Responsibility (CSR) report, covering the company’s efforts and progress within the topics of sustainability, human rights, diversity and philanthropy during FY22.

Speaking on the report, John Idol, chairman and chief executive officer, said: “Capri Holdings is a company deep with purpose. Whether it’s doing our part to foster a more resilient environment, promote diversity and inclusion or give back to those in need, Capri cares about the planet and its people.

“It is that purpose that drives us forward as we pursue our CSR goals with even more intention.”

As part of its governance section, Capri said it had attained 62.5 percent of women and 25 percent persons of colour on its board of directors.

It added that 10 percent of leadership’s annual incentive compensation will be tied to individualised ESG goals beginning in 2023.

Within ‘Our World’, the company reported that it received approval of greenhouse gas (GHG) emissions reduction targets by the Science Based Targets initiative (SBTi).

Scope 1 and 2 targets had been confirmed to align with the 1.5 degrees celsius pathway, while its Scope 3 target was confirmed to exceed the minimum ambition for the two degree pathway.

Meanwhile, Capri said it had achieved a 38 percent reduction in Scope 1 and Scope 2 GHG emissions from FY19 baseline, with it also reaffirming its commitment to renewables through The Fashion Pact collective’s virtual power purchase agreement.