Suppliers to the garment decoration sector have been included in a list of the top 100 most sustainable corporations in the world.
Gildan Activewear is the only clothing supplier in Corporate Knights’ annual Global 100 of major corporates, rising up the ranks to 60th place from 79th in 2022. Print equipment specialist Ricoh made it on to the list for the 11th time, in 80th place.
The annual top 100 list, which was announced this week at the World Economic Forum’s annual meeting in Davos in Switzerland, is based on key indicators such as environmental, social, and governance (ESG) performance, percentage of sustainable revenue, percentage of sustainable investment, climate-related lobbying activities and sustainability-linked pay.
The percentage of revenue from sustainable activities at Gildan was 39% while Ricoh’s was 21%. Other corporations in the list included print technology company Hewlett Packard in 67th place with 50% sustainable revenue.
Glenn Chamandy, president and CEO of Gildan, said: “Our increased ranking reflects our dedication and hard work in developing and advancing our ‘Next Generation’ ESG strategy over the past year which includes increasing gender diversity, focusing on sustainable investments, employee safety and linking executive compensation to ESG targets, amongst other initiatives.
“Under this strategy, we are driving ESG further into our business and remain committed to the path ahead to ensure that our products are made with respect for our people, the environment, and our communities from start to finish.”
Ricoh’s president and CEO Jake Yamashita said: “In 2020, we positioned ESG initiatives as future financial targets, one of the dual company-wide management targets along with regular financial goals.
“This ranking is a testament to Ricoh’s continuous and accelerated commitment to sustainability, such as incorporating ESG indicators into our executive compensation and actively lobbying for climate change action by joining the conversation on renewable energy with the Japanese government.”
The 19th annual ranking, the 2023 Global 100, assessed 6,720 publicly-traded companies with over US$1 billion ($809 million) in revenue.