On Holding is making progress in its efforts to become a more sustainable footwear brand.
The popular Swiss running shoe The company released its 2022 Impact Progress Report on Monday Third progress report since 2019, in which the brand details its progress in meeting the objectives outlined previously sustainability Goals.
On specifically highlighted two major achievements in the report: the brand has reduced carbon dioxide equivalent (CO2eq) emissions per unit of value by 12 percent compared to 2019, and also increased the use of recycled polyester in its products to 85 percent, in line with its broader goal of achieving 100 percent recycled polyester and polyamide by 2024.
By 2024, On aims to use 100 percent recycled, organic or petroleum-free cotton. By 2022, 30 percent of On’s materials across all categories were fossil-fuel free. On also aims to use 100 percent renewable electricity in its offices and stores by 2024 and to have all of its vehicles electric by 2030.
“We are incredibly proud of our positive journey towards achieving our sustainability goals,” Begum Kurkcu, On’s ESG head, said in a statement. “We are proving we can grow our business and continue to put the environment first. This is exceptional given the tremendous growth of our business and our expanded physical footprint with new stores and offices.”
Last month, Delivered on another round of record results — and record sixth consecutive quarter of revenue growth — in the second quarter. Net sales increased 52.3 percent year-over-year to reach 444.3 million Swiss francs, or $504 million at current exchange rates, for the quarter ended June 30. The company raised its guidance for fiscal 2023 and now expects net sales of at least 1.76 billion Swiss francs, or more than $2 billion, which would represent a compound annual growth rate of 44 percent.
Like other footwear brands, On has set long-term reduction targets greenhouse emissions. The brand plans to reduce Scope 1 and 2 emissions by 46 percent and reduce the economic intensity of Scope 3 emissions by 55 percent by 2030. Currently, a third of On’s Tier 1 suppliers use renewable energy and On plans to increase this to 100 percent by 2027.
In 2022, On collaborated with Reseller Guide Trove launch its Onward program, allowing consumers to shop for and trade in used On products. By the end of 2022, 5,400 customers had purchased more than 9,600 used items through the program.
On also detailed progress on its diversity and inclusion goals in the report. In 2022, the proportion of female employees in On’s corporate workforce increased to 46.9 percent from 46.7 percent in 2021. The proportion of BIPOC employees increased to 25.8 percent from 23.3 percent in 2021.
“We know there are more places where we can lend our support and that there is much more we can do to make a positive impact on people,” the report said. “Transparency is just the beginning.”
https://sourcingjournal.com/footwear/footwear-brands/on-running-progress-sustainability-goals-ghg-carbon-453308/ Ongoing details on progress toward sustainability goals – Sourcing Journal