Since our first sustainability report was published in 2015, we have worked to develop our company’s first formal sustainability strategy and commitments. We engaged a wide range of stakeholders to understand their concerns and used the insights we gained to refresh our sustainability materiality assessment and identify key topics for action.
Our approach is aligned with the principles established by the Global Reporting Initiative (GRI) Standards to determine topics that are important to both our stakeholders and to the sustainable growth of our business. For more information on each specific commitment and goal, please visit Empowering People and Protecting the Planet sections of this website.
We regularly engage with a wide range of stakeholders that are important to the success of our business, including investors, customers, suppliers, non-governmental organizations and our industry peers. Stakeholders are profiled according to the nature of their relationship, interest, willingness to engage and influence on the company.
We used this feedback from stakeholders to refresh our sustainability materiality assessment. Guided by AA1000 standards for stakeholder engagement, this refresh built on an earlier assessment carried out in 2014 and included reviewing best practices within our industry. We conducted workshops, interviews and online surveys with management and associates to evaluate and prioritize risks and opportunities related to the sustainable growth of GUESS. Through this process, we identified the spectrum of sustainability topics that our stakeholders care about and are relevant to our business, and mapped them in a materiality matrix to provide a snapshot of our key challenges and opportunities.
At the corporate level, we have been members of the Sustainable Apparel Coalition (SAC) since 2015, enabling us to leverage industry collaboration in support of sustainable apparel production, and use the SAC’s Higg Index Facility Environmental Modules with our suppliers. In 2016, we joined the Global Reporting Initiative (GRI)’s GOLD Community and opted into their Standards Pioneers Program to adopt the latest international standards in sustainability reporting and enhance global comparability and quality of our sustainability report. GUESS also aligns with a number of other externally-developed sustainability initiatives relevant to specific sustainability topics.