Under the title “Purpose. Driven.” VF Corp has published its Environmental and Social Responsibility Report for the 2023 financial year. The comprehensive report emphasizes the key areas that VF focuses on: People, Planet and Product. Topics covered in the report include gender parity, racial equality, human rights, product traceability, climate change, renewable energy, waste reduction, the use of responsibly sourced, recycled and regenerative materials, and the reduction of unwanted chemicals in the value chain.
The report also highlights how VF’s brands are taking action to deliver meaningful results for people and the planet. Examples of VF brands’ initiatives and achievements featured in the report from FY23 include how Smartwool invested in inclusive sizing with their first plus-size base layers apparel line; how Vans championed the LGBTQ+ community with its Off The Wall Pride Gallery Collection and donations to LGBTQ+ advocacy organizations; how nearly half (48%) of Icebreaker’s wool is sourced from growers implementing regenerative practices; how The North Face (TNF) launched its first Circular Design products; and how Timberland, Vans and TNF are launching products featuring regeneratively-grown natural rubber.
In addition, the company has made overall progress toward its goals. Key highlights of the report include:
- The percentage of Black, Indigenous and People of Color (BIPOC) in VF leadership positions (director level and above) in the US increased from 18.1 percent in FY22 to 19.0 percent in FY23
- VF’s sourcing of recycled polyester increased to 40 percent in FY22. This is an improvement from 36 percent in FY21 and brings VF 80 percent of the way towards achieving our target of using 50 percent recycled polyester by FY26
- In the Asia Pacific (APAC) region, the first chapter of the VF Pride Employee Resource Group (ERG), APAC Pride & Allies, was launched, bringing the number of VF ERG chapters worldwide to 23 in FY23
- In FY23, VF’s Worker & Community Development program achieved more than 80 percent of its short-term goal of improving the lives of 1 million workers and their communities by FY26
- Seven VF brands operating in the Europe, Middle East and Africa (EMEA) region diverted ~96,000 kilograms of single-use plastic packaging from landfills in FY23
- VF traced 72 percent of its wool supply chain from farm to finished product in FY23; wool is one of five key materials that VF aims to trace through all five stages of the supply chain by FY28
VF’s Environmental and Social Responsibility Report FY 2023 has been prepared in accordance with the Global Reporting Initiative (GRI) Standard 2021, in accordance with the Apparel, Accessories & Footwear Standard 2018 of the Sustainability Accounting Standards Board (SASB), on the basis of the Task Force on Climate-related Financial Disclosures (TCFD) and taking into account the United Nations Sustainable Development Goals (UN SDGs).
The full report can be downloaded here.
