Gildan Activewear Inc. Unveils 2024 ESG Report, Showcasing Sustainability Commitment and Achievements
- Gildan Activewear's 2024 ESG Report outlines progress towards 2030 sustainability goals and highlights its commitment to responsible practices.
- The company achieved a 16.8% reduction in greenhouse gas emissions and sustainable cotton sourcing reached 77.3% in 2024.
- Gildan invested over $2.7 million in community contributions, showcasing transparency and accountability in its corporate activities.
### Gildan Activewear Inc. Enhances Commitment to Sustainability with 2024 ESG Report
Gildan Activewear Inc. (GIL: TSX and NYSE) has recently published its 2024 Environmental, Social, and Governance (ESG) Report, marking the 21st iteration of this essential document. This report outlines the company's progress toward its 2030 ESG targets and emphasizes the critical role of ESG principles in its Sustainable Growth strategy. Glenn Chamandy, the company’s President and CEO, asserts that Gildan’s commitment to ESG not only supports low-cost manufacturing and innovation but also enhances workforce engagement and builds community trust. The comprehensive 2024 ESG Report reflects Gildan’s ongoing efforts to integrate sustainability into its operations across the globe.
A highlight of Gildan's 2024 initiatives is its focus on sustainable cotton sourcing through verified programs including Better Cotton and organic cotton. The company has set ambitious Next Generation ESG goals, showcasing significant advancements in sustainable practices. Gildan operates extensive manufacturing facilities in Central America, the Caribbean, North America, and Bangladesh, where it adheres to stringent labor, environmental, and governance standards. Currently employing around 50,000 individuals, Gildan’s commitment to responsible production is evident in its transparent reporting, which is accessible on its corporate website. This transparency underscores the company's dedication to continuous improvement in its ESG efforts and its accountability to stakeholders.
The 2024 ESG Report also incorporates an Independent Practitioner's Limited Assurance report from KPMG LLP, which reviews Gildan's quantitative performance metrics. Notable achievements include a 16.8% reduction in absolute Scope 1 and 2 greenhouse gas emissions compared to a 2018 base year. The report reveals a total of 626,644 tCO2e in gross direct and indirect emissions for 2024, along with a significant decrease in water intensity and waste sent to landfills. Gildan’s progress in sustainable cotton sourcing, which reached 77.3%, further illustrates its commitment to environmentally responsible practices. These achievements not only highlight the company's operational efficiencies but also reinforce its position as a leader in the global apparel industry.
In addition to the ESG Report, Gildan has shared its Community Investment Report for 2024, which details corporate activities amounting to $2,753,406 USD in community contributions. This report, audited in line with LBG Canada valuation principles, breaks down the investment into cash contributions, in-kind donations, employee volunteer time, and program management costs. The independent audit ensures transparency and compliance, allowing Gildan to benchmark its community investment performance against industry peers, thus informing future strategic decisions.
With these comprehensive reports, Gildan Activewear demonstrates its unwavering commitment to sustainability and community engagement, positioning itself as a responsible player in the global apparel manufacturing landscape.