The iconic Harrods department store in London has made its first foray into environmental accountability with the release of its inaugural ESG report.
- The report covers achievements and future goals related to sustainability, spanning February 2023 to January 2024.
- A significant 2.4% reduction in Scope 1 and 2 greenhouse gas emissions was reported.
- Renewable energy strides include solar installations supplying 41% of power at a key distribution center.
- Efforts in diversity and global community empowerment are being expanded.
The venerable department store Harrods has embarked on a new chapter in its storied history by releasing its first annual Environmental, Social and Governance (ESG) report. This comprehensive document outlines the company’s strategies and achievements concerning sustainability over the past year, setting a precedent for future endeavors. It highlights the period between February 1, 2023, and January 31, 2024, marking a critical advancement in Harrods’ business ethics.
One of the report’s most notable achievements is a 2.4% reduction in Scope 1 and 2 greenhouse gas emissions from the previous year. This step demonstrates Harrods’ commitment to reducing its environmental footprint and aligning with global sustainability standards. The report does not shy away from acknowledging that while this is a significant start, there is ample room for growth.
Another highlight is the successful installation of solar panels at the Thames Valley distribution center. These panels now generate 41% of the facility’s annual power, underscoring Harrods’ pledge to invest in renewable energy sources. By utilizing solar power, the company is taking a proactive approach to energy efficiency and sustainable operations.
Harrods is also advancing its social initiatives with the launch of a new beauty recycling scheme aimed at reducing waste. This program complements its wider sustainable philosophy by encouraging environmentally friendly practices among its customer base. Furthermore, Harrods has introduced a Community Pillar strategy designed to enhance its social impact. This strategy involves working closely with charity partners to empower communities on a global scale, reflecting a commitment to diversity and inclusiveness.
As Michael Ward, the managing director of Harrods, articulates, the publication of the ESG report is an “important first step,” but the journey towards comprehensive sustainability is ongoing. The luxury retailer acknowledges that by prioritizing the sustainability of its operations and supply chain, it can maintain the high standards expected by its customers.
Harrods’ debut ESG report sets a foundational benchmark in its journey towards achieving sustainable luxury retailing.
