Macy’s Launches Sustainability Platform Backed by $5 Billion Commitment
New York-based retailer Macy’s announced today the launch of Mission Every One, its new enterprise-wide social purpose platform, backed by a commitment to direct $5 billion of company spend towards the achievement of “a more equitable and sustainable future,” through initiatives and programs targeting areas including racial injustice, inequality, and climate change, among others.
Key initiatives included in the new platform include providing a fully funded education benefit program to all Macy’s colleagues, supporting diverse business owners, and sourcing sustainable materials.
The new platform is focused on three key pillars of impact, including People, Community and Planet. People-focused initiatives include investments in underrepresented designers, brands and business partners, products, and service providers, supporting retail and non-retail diverse-owned businesses, initiatives to accelerate ethnically diverse representation in the company’s leadership, investing $35 million in education benefits for Macy’s colleagues, and supporting organizations focused on advancing human rights, racial justice, workforce development and economic opportunity.
Communities-focused commitments include donating over $100 million by 2025 to non-profit organizations that support the emotional well-being and education of underrepresented youth, as well as environmental stewardship, supporting programs and scholarships for underrepresented youth in fashion, design and sustainability, and offering mentorship and employment opportunities throughout the business.
The company’s Planet goals include increasing the use of sustainably sourced raw materials in its private brands products, conducting social and environmental audits of all tier-1 private brands supplier facilities, and investing in innovations that help reduce, reuse, and repurpose materials to eliminate waste. Macy’s also said that it is in the process of developing science-based targets to reduce emissions.
Jeff Gennette, Chairman and Chief Executive Officer of Macy’s, said:
“We are transforming our business from a position of legacy to one of leadership. In this evolution, how we run the business is as important as what we sell. As part of our transformation, we seized the opportunity to create a social purpose platform that leverages our scale, unique strengths and culture to create more meaningful change in the world. Mission Every One will be an essential part of how we operate and the decisions that we make as a business.”