Fossil Group publishes 2021 Corporate Sustainability Report

Fossil Group has published its 2021 Corporate Sustainability Report outlining the company’s commitments and progress on environmental, social and governance (ESG) initiatives.

It comes as the group, which owns the likes of Relic, Misfit and Fossil, continues to broaden its corporate responsibility through its framework, Make Time for Good.

As part of the initiative, Fossil Group noted that it has increased its collaboration with stakeholders and created ESG goals that it said reflects the current reality.

Three overarching themes make up its framework, with the first covered called ‘Good for the Planet’.

In it, the group said that it has prioritised moving towards a low carbon business model by striving for traceability and circular materials. It builds on its goal to formulate a net-zero roadmap which it is making in partnership with the Science-Based Targets initiative (SBTi).

‘Good for Communities’ focused on the company’s support of employees, with Fossil highlighting that in 2021 it achieved a 73 percent score on the Women’s Empowerment Principles Assessment.

Additionally, its ‘Good for our People’ theme covered workshops launched by the company in 2021 which each aimed to teach its leaders how create a more inclusive work environment.

“For over 35 years, Fossil Group has designed and created accessories that bring joy to consumers and help people live lives to the fullest,” said Kosta Kartsotis, chairman and CEO of the group, in a release.

Kartsotis continued: “Prioritising our ESG initiatives is a natural extension of our company’s legacy to create better products that are not only high quality, but that also leave a light environmental footprint and support the livelihoods of people who design and produce them.”