In Addition to Carbon Neutrality by 2025, WSI Commits to 75% of Products to Represent One or More of the Company’s Social and Environmental Initiatives By 2030
SAN FRANCISCO, 07/06/2021–(BUSINESS WIRE)– Williams-Sonoma, Inc. (NYSE: WSM) the world’s largest digital-first, design-led and sustainable home retailer, today released the company’s Annual Impact Report and announced several new ambitious goals to further differentiate WSI as the industry leader of sustainable home furnishings.
The Annual Impact Report shares the company’s progress and achievements across its three sustainability pillars: People, Planet, and Purpose. The 2020 report also highlights a new goal of having 75% of all WSI products represent one or more of the company’s social and environmental initiatives by 2030, up from 40% as of today. This commitment represents over $1B in product purchases a year.
The scorecard also showcases the company’s progress towards previously-announced goals – several of which have been met or exceeded including:
- PLANET GOAL: 50% of assortment to be made using responsibly sourced wood by 2021
- Progress: Goal was met and exceeded a year early with currently 65% of WSI’s assortment being made of responsibly sourced wood
- PLANET GOAL: Pottery Barn will plant 3 million trees by 2023
- Progress: On track with goal having planted more than 650,000 trees within first year of announcing goal and 1 million trees to date
- PEOPLE GOAL: Educate & empower 100K workers within the WSI supply chain by 2020
- Progress: Goal achieved
- PEOPLE GOAL: Pay $3M in Fair Trade Premiums by 2020
- Progress: WSI doubled the company’s goal in 2020, paying $7.2M in Fair Trade Premiums and became the first Fair Trade Certified home retailer
- PURPOSE GOAL: Exceed 2019 WSI corporate giving donations
- Progress: WSI doubled annual giving numbers – donating nearly $45M in corporate, customer & associate donations to various causes
Earlier this year, WSI announced the setting of a Science-Based Target (SBT) for emissions reduction across its value chain by 2030, including the goal of carbon neutrality in the company’s own operations by 2025. Williams-Sonoma, Inc. is one of the first in its industry to work with the Science-Based Targets initiative to reduce its emissions in line with climate science. Aligned with the Paris Climate Agreement, the company has set a SBT that will help keep global warming below 2 degrees Celsius to avoid the worst effect of the climate crisis while establishing a pathway to net-zero emissions.
“Williams-Sonoma, Inc.’s decades-long foundation in values leadership and commitment to creating a company that is ‘Good By Design’ set a foundation for the resilience and agility that this past year required,” said Laura Alber, President and CEO of Williams-Sonoma, Inc. “Our company outperformed the industry in 2020, and we met and exceeded many of our sustainability goals, demonstrating that a strategic approach to ESG can deliver business, social, and environmental impact.”
For more information on the company’s carbon reduction commitments, please view the Science-Based Target Summary. Williams-Sonoma will continue to share its progress in its Annual Impact Report its sustainability website, and other public disclosures.
ABOUT WILLIAMS-SONOMA, INC.
Williams-Sonoma, Inc. is the world’s largest digital-first, design-led and sustainable home retailer. The company’s products, representing distinct merchandise strategies — Williams Sonoma, Pottery Barn, Pottery Barn Kids, Pottery Barn Teen, West Elm, Williams Sonoma Home, Rejuvenation, and Mark and Graham — are marketed through e-commerce websites, direct-mail catalogs and retail stores. These brands are also part of The Key Rewards, our free-to-join loyalty program that offers members exclusive benefits across the Williams-Sonoma family of brands. We operate in the U.S., Puerto Rico, Canada, Australia and the United Kingdom, offer international shipping to customers worldwide, and have unaffiliated franchisees that operate stores in the Middle East, the Philippines, Mexico, South Korea and India, as well as e-commerce websites in certain locations. We are also proud to lead the industry with our Environmental, Social and Governance (“ESG”) efforts. Our company is Good By Design — we’ve deeply engrained sustainability into our business. From our factories to your home, we’re united in a shared purpose to care for our people and our planet.
Source: Williams-Sonoma, Inc.