Capri Holdings announces 2022 social responsibility progress

Capri Holdings has released its Corporate Social Responsibility (CSR) report, revealing the company’s progress in environmental sustainability, climate change, human rights, diversity and philanthropy during FY22.

The report builds on the company’s global sustainability strategy, which focuses on four pillars of governance, world, community and philanthropy.

For governance, Capri Holdings conducted a refreshed environmental, social and corporate governance (ESG) materiality assessment. It also attained 62.5% women and 25% persons of colour on its Board of Directors.

For world, the company received approval of greenhouse gas emissions reduction targets by the Science Based Targets initiative (SBTi) and achieved a 38% reduction in scope 1 and scope 2 GHG emissions from its FY19 baseline.

Capri Holdings also strengthened its commitment to renewables through The Fashion Pact Collective Virtual Power Purchase Agreement (CVPPA), sourced 91% of leather from tanneries certified to the highest environmental standards, and embraced circulatory through repair and re-commerce initiatives.

For community, the company scored 90/100 on the Human Rights Campaign Foundation’s Corporate Equality Index. It also announced a new scholarship program through The Capri Holdings Foundation for the Advancement of Diversity in Fashion.

For philanthropy, Capri Holdings donated over 30 million meals through the Michael Kors Watch Hunger Stop campaign to date.

In addition, the company invested $10 million in The Versace Foundation for the LGBTQIA+ community, supported Women for Women International through The Jimmy Choo Foundation, and contributed to disaster relief efforts for those displaced and suffering due to the war in Ukraine.

John D. Idol, Chairman and CEO of Capri Holdings, said: “Capri Holdings is a company deep with purpose. Whether it’s doing our part to foster a more resilient environment, promote diversity and inclusion or give back to those in need.

"It is that purpose that drives us forward as we pursue our CSR goals with even more intention. We are pleased with the progress we have made over the past year and look forward to continuing to share the work our community is doing to care for the world around us.”