Gap Inc. has unveiled its highly anticipated 2023 Environmental, Social, and Governance (ESG) Report, marking a milestone twentieth year of sustainability reporting and nearly three decades of dedicated sustainability efforts. The report showcases the retail giant's strides in fostering sustainability, resilience, and inclusivity within its diverse portfolio of iconic brands, which include Old Navy, Gap, Banana Republic, and Athleta.
CEO Richard Dickson underscored the company's enduring commitment to bridge societal divides, echoing the ethos established by founders Don and Doris Fisher over five decades ago. He emphasized Gap Inc.'s aspiration to forge a world where purpose and profit harmonize, propelling initiatives that enhance both human and environmental well-being.
Gap Inc.'s accolades in the past year include being ranked first in retail on Newsweek's "America's Most Responsible Companies" list and securing its eleventh consecutive inclusion in the S&P Global Dow Jones Sustainability Index.
In FY2023, the company spearheaded three pivotal initiatives aimed at addressing pressing global challenges. These include the Women + Water Collaborative, the Global Water Innovation Centre for Action, and the Rise program, all geared towards advancing gender equity and enhancing water stewardship across its supply chain.
Key highlights from the report include empowering over 2.5 million individuals in the apparel industry with improved access to clean water and sanitation, as well as the successful engagement of more than 19,600 youths through Old Navy's This Way Onward program. Notably, Gap Inc. achieved significant milestones in sustainable sourcing, with 98 per cent of cotton utilized sourced sustainably.
Moreover, Gap Inc.'s commitment extends beyond its operational boundaries, evidenced by its adherence to ESG standards such as the Global Reporting Initiative (GRI), the Sustainable Accounting Standards Board (SASB), and the Task Force on Climate-Related Financial Disclosures (TCFD). The company remains steadfast in its alignment with the United Nations' Sustainable Development Goals (SDGs) and Global Compact principles.
Gap Inc.'s 2023 ESG Report serves as a testament to its unwavering dedication to driving positive change while embracing transparency and accountability in its operations.
