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Ralph Lauren Corporation Sets New Sustainability Standards in 2023 Global Citizenship
In a remarkable move towards sustainability, Ralph Lauren Corporation (NYSE:RL) has just released its highly anticipated 2023 Global Citizenship & Sustainability Report. The fashion giant is reinforcing its commitment to responsible practices, timeless products, and support for its workforce, supply chain, and communities. This groundbreaking report showcases the company's innovative approach, known as Timeless by Design, which seamlessly integrates timelessness throughout its products' lifecycle.
Katie Ioanilli, Chief Global Impact & Communications Officer at Ralph Lauren Corporation, expressed the company's dedication to creating a positive impact. She said, "Ralph's vision of timelessness shines through in our exquisite products, and we are fully committed to extending this vision to how we create and address our impact on the world. Our approach combines science, ambitious goals, collaboration, and innovation, inspiring people to live their dreams while caring for our planet."
Under the Timeless by Design strategy, Ralph Lauren Corporation has achieved significant milestones over the past year, demonstrating its ongoing commitment to sustainability. Some highlights include:
Embracing the Circular Economy: Ralph Lauren introduced the Cradle to Cradle Certified® Gold Luxury Cashmere Sweater, a luxury product made to meet the Cradle to Cradle certification standards. This innovative step supports the company's goal to have five iconic products Cradle to Cradle Certified® by 2025.
Innovating Sustainable Products: The company expanded its efforts in creating sustainable products by launching the POLO® MIRUM® sneaker and crossbody pouch. These products feature components from Natural Fiber Welding's MIRUM® technology, which is 100% plastic-free and made from renewable plant and mineral sources.
Driving Environmental Progress: Ralph Lauren Corporation is committed to eliminating coal from its supply chain, taking a significant step toward cleaner energy sources. Additionally, the company achieved its zero waste goal by diverting 92% of waste from landfill and incineration across its distribution centers.
Empowering Women in the Supply Chain: Ralph Lauren Corporation exceeded its goal of increasing the number of women in factory leadership by at least 25%, two years ahead of schedule. This milestone brings the company closer to achieving gender parity in its supply chain.
Fighting Cancer Care Inequity: The Ralph Lauren Corporate Foundation announced a groundbreaking $25 million commitment to expand or establish five cancer centers in the U.S. These centers aim to address cancer care disparities in underserved communities. As part of this initiative, the Ralph Lauren Center for Cancer Prevention recently opened at the Georgetown Lombardi Comprehensive Cancer Center.
The complete 2023 Ralph Lauren Global Citizenship & Sustainability Report and ESG Supplement are available for download on the company's website, providing comprehensive insights into their sustainable practices and initiatives.
Ralph Lauren Corporation (NYSE:RL) has been a global leader in luxury lifestyle products for over 50 years, encompassing apparel, footwear & accessories, home, fragrances, and hospitality. With a legacy built on authenticity and timeless style, the brand is renowned for its commitment to quality and consumer satisfaction.
Timeless by Design is Ralph Lauren Corporation's approach to Global Citizenship and Sustainability. It encompasses their dedication to embedding timelessness throughout the entire product lifecycle and their responsibility towards the environment and communities. This commitment is divided into three pillars: Create with Intent, Protect the Environment, and Champion Better Lives. Ralph Lauren Corporation works with industry leaders and impactful organizations to scale its goals and make a positive difference.
The Ralph Lauren Corporate Foundation, established in 2001, shares Ralph Lauren Corporation's vision of a better life and champions equity by empowering underserved communities globally. By focusing on areas such as cancer care and prevention, environmental protection, advocacy and access, and community resilience, the foundation aims to drive meaningful change through collaborations, grants, and volunteering programs.
As Ralph Lauren Corporation continues its journey towards sustainability and responsible practices, the company acknowledges that there are inherent risks and uncertainties. While unforeseeable factors may pose challenges, the company remains dedicated to transparency and progress in achieving its sustainability objectives.
For more information on Ralph Lauren Corporation and its sustainability initiatives, please visit their official website at https://corporate.ralphlauren.com.
Disclaimer: This article contains forward-looking statements. Actual results may differ materially from these statements due to various factors. The company undertakes no obligation to update or revise any forward-looking statements.