February 20, 2016 – In line with its commitment to environmental responsibility, HUGO BOSS has actively liaised with the environmental organization IUCN, the International Union for Conservation of Nature, to identify the mid- and long-term environmental challenges facing the Group throughout its value chain. With more than 1,300 members encompassing both governmental and non-governmental bodies, IUCN is the world’s oldest and largest globally operating environmental organization.
The goal of partnering with IUCN is to continuously evolve environmental management at HUGO BOSS. Additionally, long-term sustainability risks and opportunities will be identified and assessed. The joint study “Biodiversity Risks and Opportunities for the Apparel Sector” provides the data and background information needed to represent the impact on the environment and society across the value chain. This in turn creates a platform for developing effective ways and means of managing these risks in the long term.
Beyond this, HUGO BOSS is one of ten companies who have volunteered to thoroughly test the “Natural Capital Protocol” pilot project run by the Natural Capital Coalition (NCC) for their specific business applications. The Natural Capital Coalition has brought together – through two consortia led by the World Business Council for Sustainable Development (WBCSD) and the International Union for Conservation of Nature (IUCN) – the world’s leading institutions from business, accountancy, consultancy, financial institutions and NGOs.
With the aid of the Protocol, direct and indirect environmental impacts along the supply chain are evaluated and assessed from a monetary perspective in order to pinpoint optimization potential. HUGO°BOSS will pay particular attention to environmental factors in the areas of raw material procurement and finishing processes, with the goal of gaining new insights into how to consolidate its excellent environmental protection operations throughout the supply chain.
Further information can be found in IUCN’s own report at https://portals.iucn.org/library/sites/library/files/documents/Rep-2016-001.pdf