Crocs has published its latest ESG report, the 2022 Comfort Report, to highlight its progress in becoming a more sustainable and equitable company.
Most noticeably, the document contains a key revision to Crocs’ targets. Crocs originally announced in 2021 that it planned to become net zero by 2030. However, this has now been revised to 2040 in the latest report. Crocs says this “critical update” is due to the growth at Crocs, including the acquisition of Heydude.
In 2021, Crocs announced its intention to incorporate more of its relatively new Ecolibrium material into its Croslite foam shoes. The technology, developed in partnership with Dow Chemical, transforms sustainably sourced plant-based waste and by-products into footwear, bringing emissions down significantly. In 2022, around 2.2 percent of Croslite shoes were bio-based, and Crocs is aiming for 20 percent by 2023 and 50 percent by 2030.
Four key ambitions have now been formalized to guide Crocs’ ESG strategy moving forward:
- Individuality: fostering an inclusive workforce
- Circularity: innovating for a circular economy
- Climate Stability: mitigating climate change and reducing carbon
- Community: reimagining systems to unlock opportunity.
The pillars are also reinforced by governance measures. In April 2022, Deanna Bratter joined the company as vice president and global head of sustainability in a newly created position. The Crocs board of directors now includes a Board ESG Steering Committee, comprised of 3 directors.
The Crocs report is once again guided by key ESG frameworks, including the Sustainability Accounting Standards Board (SASB), the Task Force on Climate-Related Financial Disclosures (TCFD), and the United Nations Sustainable Development Goals (UN SDGs). Read the full report here.
Image source: Crocs
