Tapestry signs onto UN Global Compact
By Danielle Wightman-Stone
10 Oct 2018
New York-based fashion holding company, Tapestry Inc, which includes luxury apparel and accessory brands Coach, Kate Spade and Stuart Weitzman, has signed the United Nations Global Compact, a corporate sustainability initiative that aligns businesses, strategies and operations with ten principles on human rights, labour, environment and anti-corruption.
Tapestry joins over 9,800 companies who are signatories to the UN Global Compact, all of which are encouraged to take actions to advance societal goals, such as the UN Sustainable Development Goals, as well as adopt and report on its sustainable and socially responsible practices.
Victor Luis, chief executive officer of Tapestry, Inc., said in a press release: “Our Company is built upon values of optimism, inclusivity and innovation. We want to leave the world in a better place for the next generation, and this sentiment influences everything that we do - from product development to our philanthropic work."
Luis continued: “At Tapestry, we recognise that corporate responsibility is a key component of a sustainable business model. Our alignment with the UN Global Compact demonstrates our commitment to driving meaningful positive change - not just for our Company, but for the greater global community.”
The American fashion company states that its participation in the UN Global Compact builds upon its already established Corporate Responsibility programmes. In 2001, the first year as a public company, it published its Supplier Code of Conduct as well as a Social Auditing Programme, both focusing on social and environmental compliance, and detailed the expectations it places upon its suppliers regarding fair working conditions, wages, and safety.
In 2015, Tapestry also introduced its first set of Corporate Responsibility goals, which included targets centred on climate change, water, waste management, and social issues that it reports on annually.
The UN Global Compact was established in 2000 and emphasises collaboration and innovation between participants, the greater community and governments, and is present in over 160 countries and more than 80 local networks. All signatories are required to release public reports detailing their progress and continued commitment each year.
Image: courtesy of Tapestry