What: Harrods is launching its first-ever ESG report.

Why it is important: No retailer in the world, as exclusive as it can be, will escape the need to show its efforts towards more sustainability.

Harrods has introduced significant sustainability commitments in its inaugural ESG report. By 2030, all Harrods own-label products will adhere to its 'Responsible Sourcing Standards,' which enforce rigorous supplier compliance and certified sustainable practices. The company aims to eliminate problematic single-use packaging by 2025 and is set to transition 75% of its electricity to renewable sources by 2030. Additionally, it plans to reduce its scope one and two greenhouse gas emissions by 90% over the same period, using 2022 as a baseline.

The department store also focuses on social aspects, pledging to involve 15% of its workforce in community volunteering and fundraising. It seeks to empower customers through innovative and sustainable business models. Harrods has already developed materials specifications for cotton, leather, cashmere, bast, and synthetic fibers to support these goals.

Managing Director Michael Ward emphasized the integration of sustainability into core business strategies to maintain high standards and meet customer expectations, viewing this advancement as a crucial step for Harrods' future sustainability and operational responsibility.

Harrods outlines its new sustainability commitments in its first-ever ESG report