New York – Macy’s Inc. is rolling out a set of initiatives built around corporate citizenship and positive social change.
The new social purpose platform, called Mission Every One, sets goals for supporting people, communities and the planet. The company plans to direct $5 billion through 2025 to partners, products, people and programs that will foster a more equitable and sustainable future.
Some goals will inform corporate sourcing and product development decisions:
Sustainable materials: Company nameplates will boost to the use of sustainably sourced raw materials, including cotton, synthetic and wood-based materials. Macy’s Inc. aims for 100% preferred material use in private brand products by 2030.
Workers’ rights: Macy’s Inc. intends to advance workers’ rights, women’s equality and family well-being with its private brand suppliers throughout the global value chain. It will conduct worker well-being audits among all of its Strategic Tier-1 private brands supplier facilities and will invest $500,000 by 2025 with non-profits involved in such work, including Fashion Makes Change.
Diverse design: The company is increasing its investment in underrepresented designers, brands and business partners, products and service providers across Macy’s and Bloomingdale’s, strengthening exiting initiatives to provide opportunities to women-owned and Black-owned brands and businesses.
Waste reduction: The company is investing in sustainable innovations that will help its operations reduce, reuse and repurpose materials in order to eliminate waste.
Jeff Gennette, chairman and CEO of Macy’s Inc., noted that stakeholder communities now expect corporations to actively contribute to the common good.
“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,” he added.
The company outlined its full set of social purpose initiatives in an announcement posted on its investor relation site.