ESG (Environmental, Social, and Governance) Report

ESG in Retail and Apparel

ESG continues to gain popularity across several sectors, retail and apparel included, as consumers, governments, regulators, and the media begin to scrutinise and praise companies through an ESG lens.

GlobalData provides insight into the theme of ESG within the retail and apparel sector. The report provides an overview of what the ESG is, what factors make up each element of E S and G, why it is important to the retail and apparel industry and why it needs to become a core focus for retail and apparel operators going forward. The report outlines the operators that are market leaders and laggards within ESG and the key trends impacting the theme; and provides an ESG timeline highlighting important moments so far and gives insight into where operators rank in terms of their ESG in a scorecard format.

  • What you need to know
  • ESG has gained momentum across a larger section of society and across different markets as the demand to be transparent and just picks up pace.
  • Actions, regulations and programmes in support of ESG are becoming more and more common across the globe. For instance, the development of the Kyoto protocol in 2005, the Paris alignment agreement in 2016 and the UK’s launch of its green finance strategy in 2019.
  • There are four different technology trends impacting the ESG theme in retail and apparel, including artificial intelligence, internet of things (IoT), refrigeration efficiency and transportation. All will play a significant role in allowing companies to enhance their ESG credentials.
  • There are five distinct macroeconomic trends impacting the ESG theme in retail and apparel, they include, alternative energy, COVID-19, ethical consumerism, generation Hashtag and M&A. These trends will play an important role in influencing how companies enhance their ESG credentials.
  • Retailers are facing many challenges within the ESG theme, across all three pillars. Retailers will need to work hard to address these issues swiftly and keep the world up to date on their progress and actions, as transparency is an essential factor in gaining ESG credentials.

ESG continues to gain popularity across several sectors, retail and apparel included, as consumers, governments, regulators, and the media begin to scrutinise and praise companies through an ESG lens. Social inequality, lack of action against climate change, diverse boards and tax avoidance are all issues that companies must address and ameliorate in the limelight, in front of all.

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