Our Sustainability Plan is organized into commitments and goals that focus on Our World – the people, operations and suppliers we work with – and Our Brand – the customers and communities we connect with.
Our approach is aligned with the Global Reporting Initiative (GRI) Standards to determine topics that are important to both our stakeholders and to the sustainable growth of our business.
Our 2021 goals contribute to the SDGs and drive our efforts to empower our associates, enhance the sustainability of our global operations and communities, and connect our customers with more sustainable fashion choices.
We are using a phased approach—described below—to advance our sustainability commitments and goals. In 2016, we launched our first formal sustainability strategy and rolled out Phase 1: Education, focused on collecting data and building foundational systems for continued responsible growth in the coming decades. In 2018 – 2019, we are collaborating across regions and brands globally to drive Phase 2: Action, focused on embedding sustainability into our business and reporting progress against our goals. Starting in 2020, we will enter Phase 3: Positive Impact, when we expect to reach our goals, accelerate performance and show demonstrable results.
Everywhere we operate globally, we strive to work with integrity—doing what is right and working to continuously improve and evolve. To do this, we regularly monitor and measure our performance, engage and collaborate with stakeholders throughout the value chain, and transparently report our progress.
We regularly engage a wide range of stakeholders critical to the success of our business to take the pulse of society, understand what matters most, and incorporate feedback into our evolving approach. Stakeholders are profiled according to the nature of their relationship with GUESS, their interest, and their willingness to engage with and influence the company. The stakeholders we engaged in FY2018 – 2019, our methods for engaging them, and the topics they raised are summarized below.
Guided by the Global Reporting Initiative’s Reporting Principles, we conducted a sustainability materiality refresh in FY2019, building upon previous assessments conducted in FY2015 and FY2017, to ensure we’re addressing relevant topics, and identifying opportunities for innovation and improvement. We conducted a detailed review of industry best practices and engaged internal and external stakeholders through a series of interviews and online surveys. Stakeholders evaluated and prioritized risks and opportunities related to the sustainable growth of GUESS and shared input on how we can maximize our positive impact.
To leverage industry best practice tools and guidance and maximize our impact, GUESS participates in several externally-managed sustainability programs in collaboration with industry peers, experts and other stakeholders.