June 2023
At Domini, we conduct proprietary in-house research to evaluate the social and environmental performance of our investments. Our in-depth, independent ESG research and high standards help create prosperity not only for portfolios, but for people and planet too. During our research process, we discover many innovative initiatives worth sharing.
Hugo Boss
Held in the Domini Impact International Equity Fund
The fashion industry is a major contributor to climate change. Its actions have also resulted in global biodiversity loss and contributed to the influx of plastic microfibers in our oceans. The industry’s sustainability efforts are critical to the future of our planet—and progress is being made. At COP26, many industry leaders made pledges to sustainability. Material innovation is also on the rise. In addition, companies are exploring circularity, a holistic approach that acknowledges that the production of an item and its end life are equally important.
Hugo Boss, a global company headquartered in Germany, is a designer, manufacturer, and seller of clothing and accessories. Their “Responsible” styles compromise at least 60% more sustainable raw materials, which are defined through the company’s responsible product policy. They also have a “Repurpose” line that focuses on the responsible use of leftover fabrics, which has saved 300,000 meters of fabric. Additionally, the firm released a line of “Less Water” styles, made with special materials and dye to reduce water consumption.
The company first published its annual sustainability report in 2013 and established its targets regarding circular design in December 2017. The first “Responsible” collection was launched 2018. Hugo Boss has also published commitments to high standards regarding cotton, leather, and wool sourcing, with targets to source 100% of cotton and leather sustainably by 2025. The company’s overall target is to have 80% of its products part of the circular economy by 2030.