StockNews.AI
GIL
StockNews.AI
91 days

Gildan Publishes its 2024 ESG Report Highlighting Advancements towards its 2030 ESG Targets

1. Gildan published its 21st ESG report, highlighting significant sustainability progress. 2. Water intensity reduced by 25.2% since 2018, showcasing operational efficiency improvements. 3. Sustainable cotton sourcing increased from 35.7% to 77.3% in one year. 4. Gildan recognized on multiple sustainability indices, reinforcing its ESG commitments. 5. Company's ESG initiatives enhance workforce engagement and community trust, crucial for growth.

6m saved
Insight
Article

FAQ

Why Bullish?

Gildan's strong ESG performance can attract environmentally conscious investors, following trends seen in strong ESG stocks like Tesla and NextEra Energy.

How important is it?

Gildan's focus on sustainability aligns with rising investor interest in ESG, which can drive share prices higher.

Why Long Term?

Sustained ESG commitments are likely to yield long-term benefits, akin to how companies such as Unilever have reaped rewards for decades through sustainable practices.

Related Companies

TSLANEEUN
MONTREAL, May 20, 2025 (GLOBE NEWSWIRE) -- Gildan Activewear Inc. (GIL: TSX and NYSE) (“Gildan” or “the Company”) is pleased to announce the publication of its 21st Environmental, Social, and Governance (ESG) Report, outlining the Company’s continued progress against the ten targets of its Next Generation ESG strategy. “Over the years, ESG, which is one of three pillars of our Gildan Sustainable Growth (GSG) strategy, has been foundational to support our low-cost manufacturing operations, unlocking innovative business solutions and our ability to meet changing customer and consumer needs,” says Glenn Chamandy, President and CEO of Gildan. “Just as importantly, it has also helped us to attract and retain an engaged, experienced, and highly skilled workforce, and maintain the trust and support of the communities in which we operate. Together with our ~50,000 employees, we are committed to continue making apparel with respect.” In 2024, Gildan achieved notable advancements towards its Next Generation ESG targets as the Company: Reduced water intensity at its operated manufacturing facilities by 25.2% per kilogram produced (compared to a 2018 baseline) by leveraging innovative technologies and proprietary processesIncreased the amount of sustainable1 cotton sourced from 35.7% in 2023 to 77.3% in 2024Doubled the percentage of recycled polyester or alternative fibre and/or yarns sourced from 2023 to 2024Achieved ISO 45001 certification in two additional facilities in 2024, bringing the total number of certified facilities to five Gildan also continued to be recognized for its ESG practices. The Company was: Included on the Dow Jones Best-in-Class North America Index (formerly the Dow Jones Sustainability™ North America Index), marking the Company’s 12th consecutive year of inclusion in this indexIncluded in the 2025 Sustainability Yearbook by S&P Global for the 13th consecutive yearIncluded in CDP’s Leadership Band in 2025 for our 2024 climate change disclosure – marking the fifth time that Gildan has achieved this recognitionNamed in the inaugural edition of TIME’s World Most Sustainable CompaniesRecognized as one of Canada’s Best 50 Corporate Citizens by Corporate Knights for the third consecutive year The full 2024 ESG Report and supporting indices and documents can be found here. To further enhance transparency and streamline reporting, we have included information about the Company’s approach to key ESG topics on our corporate website. 1. We consider the following types of cotton to be sustainable: sustainable cotton provided through third-party verified programs that support environmental and/or social sustainability improvements and/or outcomes. Sustainable cotton from third-party verified programs includes, for example, verified U.S.-grown cotton (USCTP), Better Cotton (formerly BCI), organic cotton, recycled or regenerative cotton, and fair-trade cotton. About Gildan Gildan is a leading manufacturer of everyday basic apparel. The Company’s product offering includes activewear, underwear and socks, sold to a broad range of customers, including wholesale distributors, screenprinters or embellishers, as well as to retailers that sell to consumers through their physical stores and/or e-commerce platforms and to global lifestyle brand companies. The Company markets its products in North America, Europe, Asia Pacific, and Latin America, under a diversified portfolio of Company-owned brands including Gildan®, American Apparel®, Comfort Colors®, GOLDTOE®, and Peds®, and under an exclusive licensing agreement for the printwear channel for Champion®. Gildan owns and operates vertically integrated, large-scale manufacturing facilities which are primarily located in Central America, the Caribbean, North America, and Bangladesh. Gildan operates with a strong commitment to industry-leading labour, environmental and governance practices throughout its supply chain in accordance with its comprehensive ESG program embedded in the Company's long-term business strategy. More information about the Company and its ESG practices and initiatives can be found at www.gildancorp.com. Investor inquiries: Jessy Hayem, CFA Senior Vice-President, Head of Investor Relations and Global Communications               (514) 744-8511 jhayem@gildan.com                                                 Media inquiries:Genevieve GosselinDirector, Global Communications and Corporate Marketing(514) 343-8814communications@gildan.com   A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0af981b7-7b4a-4578-9f26-42f0a05b20a2

Related News