PVH enters top five in Barron’s most sustainable companies report

Fashion conglomerate PVH Corp has risen up the sustainability ranks this year, placing number five on Barron’s Most Sustainable Companies list for American firms.

The company, which owns the likes of Calvin Klein and Tommy Hilfiger, jumped from 19 to fifth following a number of commitments it recently laid out, including the mission to utilise 100 percent renewable power by 2030 for its places of work.

In a statement to Barron’s, PVH’s CEO, Stefan Larsson, said the company’s approach to “strong, long-term strategic relationships” with suppliers “really paid off”.

Larsson added in a release: “This recognition is a testament to our teams around the world, who come together to drive fashion forward for good and reflects our progress to eliminate carbon emissions across our value chain, deliver sustainable products to our consumers and increase transparency to our stakeholders.”

The ranking was developed by Calvert Research and Management, which analysed the top 1,000 publicly traded companies by market value and ranked them in consideration of environmental, social and governance (ESG) indicators.

Other fashion firms that made it on the list included Nike, which remained at 18, Ralph Lauren, sitting at 59, and Gap, which climbed 17 spots to 44.

VF Corporation, the owner of Vans and The North Face, was the only one to drop on the list, falling from eighth place to 48.