ESG REPORT 2024 OUR BUSINESS PWT is committed to reducing its negative impacts and increase the positive impacts on basic principles of so- cial, environmental, and economic sustainability. It is a long journey, and the Group continuously improves poli- cies and procedures to be able to identify and manage risks throughout the business and value chain. For a description of the Group’s business model, please see “The Business Platform - A Brand House” page 12 and for a description of the Group structure please see page 7 and 13. ESG Strategy Based on the rapid development of topics of sustaina- bility, the Group conducted a review of the strategy and introduced an updated strategy “ESG Strategy 2024- 2026” In this new phase the Group wishes to integrate the concept of ESG into its business operations. From pro- duct design and manufacturing processes to supply chain management. By embedding Environmental, So- cial and Governance principles into the business, PWT also prepares for forthcoming legislative frameworks. This report will reflect the new strategy setup. Policies PWT’s sustainability work is based on the UN Global Compact’s ten principles and follows the approach set forth in the OECD Guidelines for Multinational Enter- prises and the UN Guiding Principles on Business and Human Rights (UNGP’s) The Group’s CSR Policy refers to internationally endorsed principles for sustainable development, such as the International Bill of Human Rights, including core ILO labour rights, the Rio Declara- tion and the UN Convention against Corruption. Internal Processes PWT sets the same requirements for itself as to its sup- pliers: • Adopt policies • Conduct regular risk assessments • Draw up action plans to manage identified risks and challenges • Communication about actions and results • Enable access to remedy through a legitimate grievance mechanism This is a process which requires both time and resour- ces and the Group is continuously improving its due dili- gence procedures. The strategy is integrated in all departments of the com- pany, such as Design, Purchase, Sales, Marketing and Retail through info meetings, communication materials, etc. On a quarterly basis, ESG meetings are held with the management group and the Group has in 2024 in- troduced a project group which will be responsible for implementing projects across the organization. Partnerships PWT strives to encourage cooperation and dialogue with suppliers and other relevant parties on social, environ- mentally, and economically sustainable solutions. Tack- ling global and wide-spread risks cannot be achieved by one company alone, and the Group collaborates with several organisations and initiatives to create as much positive impact as possible. The Group sees it as imperative that the different play- ers of the textile industry come together to create the most valuable and long-lasting changes that are need- ed. PWT work closely together with Danish organisa- tions and assert our influence regarding coming legi- slations. The Group is also proud to cooperate with Plastic Change, the Danish environmental organisation that works to break the exponential growth of plastic pol- lution. As of 2020 PWT Group has donated to Plastic Change. 16 ANNUAL REPORT 2024 | PWT GROUP A/S
Download PDF fil