Associated British Foods PLC Primark Cares (7820L)
15 Settembre 2021 - 9:29AM
UK Regulatory
TIDMABF
RNS Number : 7820L
Associated British Foods PLC
15 September 2021
15 September 2021
Primark Cares
Primark to make more sustainable fashion affordable for all
Associated British Foods plc, the diversified international
food, ingredients and retail group, today announces Primark's
wide-reaching new sustainability strategy.
Founded on a commitment to make more sustainable fashion
affordable for all, the nine-year programme addresses Primark's
most material ESG factors with commitments across Product, Planet
and People. The commitments include all clothes being made using
recycled or more sustainably sourced materials, halving carbon
emissions across the value chain and pursuing a living wage for
workers in its global product supply chain by 2030.
Primark's sustainability transition will lead to only a modest
increase in costs in some areas of the business (net of mitigating
actions) over the period to 2030. We are confident of Primark's
ability to mitigate those increased costs without any material
impact on its operating profit margin in the short term and without
any significant movements in the margin over the longer term.
Additionally, the Group believes that Primark Cares is an
opportunity to drive further sales growth from both existing and
new customers.
The Group recognises the importance of transparency and
accordingly will report on progress against the Primark Cares
strategy as part of its regular ESG reporting.
An investor briefing on Primark's sustainability strategy will
be held on Friday 17 September at 1300 BST.
The Primark Cares news release can be found at:
https://corporate.primark.com/en/newsroom
Primark Cares
Primark is using its global scale and reaching across its entire
supply chain and its own operations to action the new strategy with
nine key commitments, across three key areas of Product, Planet and
People. These are:
Product: Giving clothes a longer life - We will become a
circular and more sustainable business.
1. Affordable clothes designed to last - We will strengthen the
durability of our clothes by 2025.
2. Clothes that can be recycled - Our clothes will be recyclable
by design by 2027.
3. Clothes made of recycled fibres - All our clothes will be
made from recycled or more sustainably sourced materials by
2030.
Planet: Protecting life on the planet - We will nurture nature,
halve carbon emissions and eliminate waste.
4. Halve our carbon footprint - We will halve carbon emissions
across our value chain by 2030.
5. Eliminate non-clothing waste - We will eliminate single-use
plastics and all our non-clothing waste by 2027.
6. Restore biodiversity - Our Sustainable Cotton Programme will
train farmers to use more regenerative agriculture practices by
2030.
People: Improving people's lives - We will protect and improve
the livelihoods and resilience of the people who make our
clothes.
7. Create financial resilience - We will pursue a living wage
for workers in the global product supply chain and support them
with financial literacy training and access to social protection by
2030.
8. Promote equal opportunities for women - We will strengthen
the position of women across our supply chain through skills
development and addressing their barriers to progression by
2030.
9. Improve health and wellbeing - We will ensure access to
effective grievance processes for workers in the supply chain and
widen access to help for mental and physical wellbeing by 2030.
For further enquiries please contact:
Associated British Foods
Tel: 020 7399 6545
John Bason, Finance Director
Alice Macandrew, Corporate Affairs
Director, Primark
Citigate Dewe Rogerson
Tel: 020 7638 9571
Chris Barrie Tel: 07968 727289
Jos Bieneman Tel: 07834 336650
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September 15, 2021 03:29 ET (07:29 GMT)
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