US: Investor group praises A&F's sustainable efforts
By Katie Smith | 13 September 2012
Teen clothing retailer Abercrombie & Fitch has been recognised by a group of industrial investors for its efforts to improve the sustainability of its business and plans to cut greenhouse gas emissions in its US operations by 8% by 2018.
As a result, the retailer is for the first time listed on the Carbon Disclosure Project's Carbon Disclosure Leadership Index.
"While we will continue to advance our sustainability programmes, it is reassuring and encouraging to have our progress to date affirmed and recognised," said Abercrombie & Fitch CEO and chairman, Mike Jeffries.
International non-profit organisation The Carbon Disclosure Project (CDP) collects information from companies on their greenhouse gas emissions as well as risks and opportunities associated with climate change.
| ABERCROMBIE & FITCH RECOGNIZED BY CDP FOR CLIMATE CHANGE DISCLOSURE AND IMPROVED CARBON PERFORMANCE RATING |
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Abercrombie & Fitch has been commended by the Carbon Disclosure Project (CDP), which represents 655 institutional investors with $78 trillion in assets, for its transparency in reporting how its business operations impact the environment and for its commitment to developing strategies to address those impacts. For the first time, Abercrombie & Fitch is featured in CDP's "Carbon Disclosure Leadership Index." This index, a key component of CDP's annual S&P 500 report, highlights the constituent companies within the S&P 500 Index, which have displayed a strong approach to information disclosure regarding climate change. Companies are scored on their climate change disclosure and high scores indicate good internal data management and understanding of climate change related issues affecting the company. In addition to a strong transparency score, Abercrombie & Fitch received a carbon performance rating of a 'B', a significant improvement from past performance. This rating indicates that Abercrombie & Fitch recognizes climate change as a priority in its strategy. To support this, Abercrombie & Fitch has published its goal to "reduce GHG emissions for US operations by 8% from 2008-2018" on the A&F Cares website. The index, compiled by PricewaterhouseCoopers on behalf of CDP, provides an evaluation tool for institutional investors and other stakeholders. In 2012 it comprises 53 companies chosen from the S&P 500 based on analysis of responses to CDP's questionnaire, which focused on greenhouse gas emissions, emissions reduction targets and the risks and opportunities associated with climate change. Abercrombie & Fitch Chairman and CEO, Mike Jeffries, commented, "We are very pleased to be included in the S&P 500 Carbon Disclosure Leadership Index. While we will continue to advance our sustainability programs, it is reassuring and encouraging to have our progress to date affirmed and recognized." Paul Simpson, chief executive officer of CDP, commented: The S&P 500 report, including names of companies featured in the Carbon Disclosure Leadership Index can be found at www.cdproject.net. About Abercrombie & Fitch The Carbon Disclosure Project (CDP) is an international, not-for-profit organization providing the only global system for companies and cities to measure, disclose, manage and share vital environmental information. CDP harnesses the power of market forces, including 655 institutional investors with assets of US$78 trillion, to collect information from companies on their greenhouse gas emissions and assessment of climate change and water risk and opportunity. CDP now holds the largest collection globally of primary climate change and water data and puts these insights at the heart of strategic business, investment and policy decisions. Please visit www.cdproject.net to find out more. |
Original source: Abercrombie & Fitch
Sectors: Apparel, Manufacturing, Retail, Social & environmental responsibility
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