East West Bancorp, Inc.
Climate Impact & Sustainability Data (2015-12 to 2016-11, 2022)
Reporting Period: 2015-12 to 2016-11
Environmental Metrics
Total Carbon Emissions:80,541 tCO2e/year (Scope 1+2)
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:796 ktCO2e/year
Renewable Energy Share:96% of total electricity use
Total Energy Consumption:5,219,718 GJ/year
Water Consumption:1,481,480,000 m3/year (own operations)
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed
ESG Focus Areas
- Circular and renewable fashion
- Fair and equal company
Environmental Achievements
- Reduced CO2 emissions by 47% compared to 2015
- 96% of electricity used in own operations comes from renewable sources
- Collected more than 15,888 tonnes of garments (29% increase from 2015)
- 26% of total materials were either recycled or sustainably sourced
Social Achievements
- Renewed the IndustriALL Global Framework Agreement
- 83% of business partners regard the H&M group as a fair business partner
- Offered internships to refugees in specific markets in collaboration with Save the Children
- 90% of employees agreed that “People here are treated fairly regardless of age, ethnicity, sex, sexual orientation and disabilities”
Governance Achievements
- Gender split in Board of Directors is 50:50
- Investigated and closed 39 incidents of potential non-compliance with the Code of Ethics
Climate Goals & Targets
Long-term Goals:
- Become climate positive throughout our value chain by 2040
- Achieve a climate neutral supply chain (first and second tier) by 2030
Medium-term Goals:
- Use 100% recycled or other sustainably sourced materials by 2030
- Use 100% cotton from sustainable sources by 2020
- Use 100% Responsible Wool Standard (RWS) certified wool in our products by 2022
- Reduce electricity use in our stores by 25% by 2030
Short-term Goals:
- Increase collected volumes of garments to reach 25,000 tonnes annually by 2020
- Have store waste and recycling systems at 100% of our stores
- Ensure democratically-elected worker representation at business partners producing 50% of H&M group’s product volume by 2018
- Ensure improved wage management systems supporting fair living wages at business partners producing 50% of H&M group’s product volume by 2018
Environmental Challenges
- Supply chain disruptions due to water scarcity and other environmental issues
- Challenges in achieving full traceability of materials
- Need to find ways to sustainably recycle blended fibres
- Need to develop technologies that can capture carbon
Mitigation Strategies
- Collaborating with WWF on water stewardship and climate action
- Implementing the Sustainable Impact Partnership Programme (SIPP)
- Investing in innovation through the Global Change Award and other initiatives
- Working with partners to develop technologies for textile-to-textile recycling
Supply Chain Management
Supplier Audits: 1,194 minimum requirement assessments performed at first-tier suppliers, 459 desktop validations, 1,247 onsite validations
Responsible Procurement
- Sustainability Commitment
- SIPP
Climate-Related Risks & Opportunities
Physical Risks
- Extreme weather events
Transition Risks
- Regulatory changes
- Market shifts
Opportunities
- Development of energy-efficient products and processes
Reporting Standards
Frameworks Used: GRI Standards: Core Option, UN Guiding Principles Reporting Framework
Certifications: Null
Third-party Assurance: Ernst & Young AB
UN Sustainable Development Goals
- SDG 5
- SDG 6
- SDG 7
- SDG 8
- SDG 12
- SDG 13
- SDG 17
Alignment explained in detail in the report
Sustainable Products & Innovation
- Conscious Exclusive
- C/O Cheap Monday Capsule Collection
- Closed Loop 2016 collections
- Conscious Beauty line
Awards & Recognition
- World’s Most Ethical Companies
- Dow Jones Sustainability Europe Index
- Dow Jones Sustainability World Index
- FTSE4Good
- Green Power Leadership Awards
- Green Ranking
- PETA’s Libby Award
- Corporate Register Reporting Award
- Drapers Award
- RobecoSAM’s sustainability award
- Sustainable Brand Index
Reporting Period: 2022
Environmental Metrics
ESG Focus Areas
- Diversity and Inclusion
- Community Reinvestment
- Sustainable Lending and Investment
- Corporate Governance
- Environmental Sustainability
Environmental Achievements
- Seven LEED Certified Gold or Silver facilities and eight Energy Star certified facilities.
- LED retrofittings and HVAC upgrades resulting in energy efficiency better than 84% of similar properties nationwide.
- All back-office locations retrofitted with LED fixtures.
Social Achievements
- Pledged $25 million to the AAPI Giving Challenge.
- 89% minority employees in 2021 (74% Asian American, 15% other minorities, 11% Caucasian).
- Nearly two-thirds of employees were women in 2021.
- Donated $10.6 million in charitable contributions in 2021 and $6.3 million in the first half of 2022.
- Associates dedicated over 6,100 community service hours in 2021.
Governance Achievements
- All board members, except CEO, are independent.
- Eight of ten directors are from diverse communities (three women, seven racial or ethnic minorities, one LGBTQ+).
- 100% director attendance at all board and committee meetings in 2021.
- Adopted an Environmental and Social Policy Framework.
- Annual anti-corruption training for all employees.
Climate Goals & Targets
Environmental Challenges
- Addressing anti-Asian American racism.
- Lack of affordable housing in served areas.
Mitigation Strategies
- $25 million pledge to AAPI Giving Challenge to support AAPI organizations and causes.
- Active lending for affordable, transitional, and senior housing.
Supply Chain Management
Responsible Procurement
- Vendor Diversity and Inclusion Program
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: SASB
Certifications: LEED, Energy Star