The integrated luxury retailer has committed to the Science-Based Targets initiative and become the first luxury retailer to sponsor the Supplier LOCT program
DALLAS, Nov. 8, 2023 /PRNewswire/ — Neiman Marcus Group (NMG) is leading by example to encourage positive change in the luxury industry. As part of its ESG strategy, Our Journey To Revolutionize Impact, the company announced it has committed to the Science-Based Targets initiative (SBTi) and sponsored the Supplier Leadership on Climate Transition (Supplier LOCT) program to help its brand partners do the same.
During the next phase of its journey, NMG will work to reduce scope 3 emissions through supplier engagement, and Supplier LOCT will be a catalyst in this effort.
“As a relationship business with the world’s most desirable brands, NMG is in a unique position to influence positive change in the industry,” said Eric Severson, Chief People, ESG, and Belonging Officer, NMG. “While we are still in the early stages of our climate journey, I’m encouraged by our progress and excited to accelerate it through collective action partnerships like Supplier LOCT.”
The announcement builds on details disclosed within the company’s second annual ESG report, released last June. In it, NMG reported procuring 19.9% renewable electricity in FY22 in support of its goal to reach 100% by 2030. NMG also shared the results of its first Scope 3 emissions screening, which found that emissions from Purchased Goods & Services comprise 87% of its total greenhouse gas footprint, prompting it to join the Supplier LOCT program to decarbonize that part of its value chain.
Through participation in Supplier LOCT, NMG commits to sponsoring suppliers’ enrollment in high-value, instructional seminars over the course of six-month sessions designed to help them measure emissions, set science-based targets, implement abatement plans, and disclose progress to CDP.
“With the support of NMG and other leading brands committed to climate action goals, more than 800 global suppliers are now getting the practical, actionable instruction they need to measure, monitor, and reduce their carbon emissions,” said Nicole DelSasso, Director for Supplier LOCT. “Supplier LOCT squarely addresses the missing link in the supply chain emissions puzzle.”
NMG is currently the only luxury retailer sponsoring the program. To date, it has supported the enrollment of 35 suppliers, including brand partners like Golden Goose, 7 for All Mankind, Eileen Fisher, Ulla Johnson, alice + olivia, Natura Bisse, Vince, LLC, Canada Goose, MCM and business vendors like FM Global.
“We are thrilled to enroll in the Supplier Leadership on Climate Transition program to further our sustainability goals in partnership with Neiman Marcus Group,” said Tsui Yuen-Pappas, Sustainability Director at alice + olivia. “At alice + olivia, we believe that fashion is a powerful platform that brings about positive global change when we commit to collective action.”
EILEEN FISHER will additionally join for a second season. Susan Scow, Sustainable Impact Associate shared, “As a long-standing leader in responsible production, EILEEN FISHER supports decarbonization efforts throughout our value chain. In Neiman Marcus, we have a dedicated partner standing beside us as we all work for the betterment of our planet. The Supplier LOCT program is a testament to that.”
More information about NMG’s ongoing efforts to revolutionize impact within luxury fashion can be found in the company’s second annual ESG report.
About Neiman Marcus Group (NMG)
Neiman Marcus Group is a relationship business that leads with love in everything we do for our customers, associates, brand partners, and communities. Our legacy of innovating and our culture of Belonging guide our roadmap for Revolutionizing Luxury Experiences. As one of the largest multi-brand luxury retailers in the U.S., with the world’s most desirable brand partners, we are delivering exceptional products and intelligent services, enabled by our investments in digital, data and technology. Through the expertise of our 10,000+ associates, we deliver and scale a personalized luxury experience across our three facets of our integrated retail model- in-store, eCommerce, and remote selling. Our NMG Way culture, powered by our people, combines individual talents into a collective strength to make life extraordinary. NMG WOW (Way of Working) is the company’s unique, integrated working philosophy that empowers our associates to do their best work, full stop. Our flagship brands include Neiman Marcus and Bergdorf Goodman. For more information, visit neimanmarcusgroup.com.
About Supplier LOCT
Supplier LOCT is a supplier community and online climate school offered by Guidehouse and organized by a growing collaborative of several Fortune 500 companies. Guidehouse works with sponsors like NMG to determine the maturity of their suppliers’ climate efforts and enroll them in one of Supplier LOCT’s course tracks. Each track provides suppliers with free guided seminars, tools, and 24/7 access to individualized support intended to help them measure their GHG emissions, establish a Science-Based Target, create and implement an abatement plan, and disclose their progress to CDP Climate annually.
SOURCE Neiman Marcus Group
Originally published at https://www.prnewswire.com/news-releases/neiman-marcus-group-announces-next-steps-to-address-climate-change-in-its-journey-to-revolutionize-impact-301981708.html
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