Primark's New Sustainability Strategy to Increase Costs
15 Settembre 2021 - 10:19AM
Dow Jones News
By Jaime Llinares Taboada
Associated British Foods PLC said Wednesday that Primark is
launching a sustainability program, and that this will lead to a
modest increase in costs through 2030.
The British conglomerate said the nine-year Primark Cares
program addresses the brand's most material environmental, social
and governance factors. It includes commitments to make all clothes
using recycled or more sustainably sourced materials, to halve
carbon emissions across the value chain, and to pursue a living
wage for workers in the global supply chain, all by 2030.
AB Foods said these changes will only lead to a modest increase
in costs, and that it is confident of Primark's ability to mitigate
them without a material impact to its operating profit margin in
the short term and any significant movement in the longer term.
The FTSE 100 group also said the program is an opportunity to
drive further sales growth.
Shares at 0742 GMT were down 0.3% at 1,908 pence.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
September 15, 2021 04:04 ET (08:04 GMT)
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