Lojas Renner highlighted on CDP’s ‘A-List’ for its commitment to the environment.
The Stores Renner SA is the only retailer in Brazil to be part of CDP’s A-List, a global non-profit institution responsible for the largest environmental information disclosure system for companies, cities, states and regions around the world. Published annually and considered a kind of Oscar for Sustainability, the recognition takes into account the commitment and transparency of companies from different sectors of the economy in tackling climate change, water security and forest protection.
The fashion retailer was ranked on the A-List in the climate change category. In total, around 23 thousand companies from all continents responded to the organization’s questionnaire, which works in partnership with more than 740 financial institutions that total more than US$136 trillion in assets and seek greater transparency on the subject to guide their investments. The CDP methodology, which in the past was called the Carbon Disclosure Project, is aligned with the guidelines of the Task Force for Climate Disclosure (TCFD) and involves pillars such as climate governance and strategy, risk management, goals and metrics.
In this edition, relating to 2023, more than 1 thousand Brazilian companies reported data to the CDP and only 11 were recognized in at least one of the A-List categories. Renner is the group’s only retailer and also the only one in the fashion segment.
Public commitments
Lojas Renner SA’s performance in the CDP has evolved over time. The unprecedented position achieved in 2023 (in 2022 the classification was A-) is due to the continuous advancement of its initiatives to reduce greenhouse gas (GHG) emissions using science-based metrics and in line with its public commitments to sustainability. It also reflects the quality of the information on the climate risks to which it is subjected, as well as its ability to adapt to them and its contribution to managing and mitigating the impacts caused throughout the production chain.
Since 2016, Lojas Renner SA has offset 100% of its corporate GHG emissions and, in 2022, its targets were approved by the Science Based Targets Initiative (SBTi). The objectives include the intention to reduce absolute CO2 emissions per item of clothing from its own brands by 75% and direct and indirect emissions from its operations by 46%, compared to 2019. The strategy seeks to accelerate the transition to a business low carbon.
The result presented by CDP shows that we are on the right path towards climate neutrality. We want to be agents of transformation not only in our sector, but in society, contributing to offering increasingly sustainable options to consumers. This necessarily involves transparency in relation to our commitments and our concrete practices, and we are proud to be part of a growing group of companies that share these values, says the CEO of Lojas Renner, Fabio Faccio.
Follow Adnews on Instagrame LinkedIn. #WhereTransformationHappens
