Kontoor Brands, Inc. released its 2023 Task Force on Climate-related Financial Disclosures (TCFD) Report, SASB Index, and Sustainability Progress Report. These reports detail the company's approach to climate-related risks and opportunities, as well as its sustainability performance. The TCFD report focuses on transparent disclosures to create comparability for stakeholders.
The Sustainability Progress Report highlights significant achievements, including saving over 10 billion liters of water since 2008 through recycling and efficiencies at internal manufacturing facilities and the Indigood™ program. The company also reported that 74% of cotton sourced in 2023 was Preferred Cotton, and 30% of synthetics sourced were preferred. These efforts align with the company's science-based targets to reduce absolute GHG emissions by 46.2% by 2030 from a 2019 base year.
The company's sustainability strategy aims to de-risk its business and supply chain, enhance brand reputation, and improve total shareholder return. Kontoor Brands is also preparing for evolving regulatory requirements such as the European Corporate Sustainability Reporting Directive (CSRD) and SEC climate disclosure rules.
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