ESG Case Study: Primark
Primark’s ESG Initiatives and Areas for Improvement.
Summary
Primark Overview
Primark is a large Fast Fashion business, well–established on the High Street. Primark began working with Rise IQ in 2020, with the aim of planning appropriate ESG and sustainability throughout its international businesses and along a complex supply chain.
This case study highlights the many areas where we influenced successful ESG strategies that led to impactful change. Let’s start with the result!
Achievements and Impacts
- Reduction of carbon emissions towards net-zero; sustainable reporting; and inclusive leadership
- Primark has improved collaborating with suppliers, helping the adoption of renewable energy sources in the supply chain.
- Goals such as eliminating single use plastics by 2027 have been set.
- Social Impact goals, such as promoting fair wages and ensuring safe working conditions have improved worker welfare.
- Governance is tackled with initiatives such as a stringent supplier code of conduct to ensure compliance with environmental laws and ethical labour practices.
ESG Case Study
Rise IQ Recommendations: Aims, Actions & Impacts
Using Rise IQ’s strategic insights and practical solutions, Primark are placed to achieve their sustainability targets and meet both stakeholder expectations and regulatory requirements.
Enhanced Reporting and Transparency
Aim: Increase the frequency and detail of sustainability reports, providing stakeholders with comprehensive updates on progress and challenges.
Action: Rise IQ assisted Primark in creating more detailed and frequent sustainability reports by implementing advanced ESG reporting frameworks and tools. Rise IQ also trained internal teams on best practices for ESG reporting and helped integrate these practices into their operational workflows.
Impact: The result was enhanced transparency and deeper trust.
Broader Stakeholder Engagement
Aim: To expand engagement efforts to include a broader range of stakeholders, such as community groups, NGOs, and customers.
Action: Rise IQ organised workshops, forums and regular meetings with stakeholders to gather diverse perspectives and feedback on Primark’s ESG initiatives.
Impact: This inclusive approach helped Primark to identify new and unexpected ESG risks and opportunities, ensuring a more comprehensive and effective sustainability strategy.
Scope 3 Emissions Tracking
Aim: More accurate measurement and reporting of Scope 3 emissions, particularly from supply chain activities.
Action: Rise IQ facilitated partnerships with ESG analytics firms and supply chain experts to establish a comprehensive emission tracking system.
Impact: The result was a clearer picture of Primark’s overall environmental impact and identification of areas for further improvement towards reducing its carbon footprint.
Strengthening Social Programs
Aim: Addressing social inequalities through the supply chain.
Action: Leveraging her experience in social entrepreneurship, Lena helped Primark develop education initiatives and other targeted programs that address social inequalities.
Impact: Improving the company’s reputation in the community whilst also contributing to societal progress and social impact.
Further Strategic Recommendations
Addressing ESG can feel like a seismic move, but once established the positive results speak for themselves. After working closely with Primark, Rise IQ recommended additional areas for improvement that would further improve their ESG. These are ongoing.
Environmental Sustainability
- Carbon Emissions: Primark is committed to halving its carbon emissions across its value chain by 2030. This initiative involves collaborating with suppliers to adopt renewable energy sources and enhance energy efficiency in factories.
- Sustainable Farming: Through the Primark Sustainable Cotton Programme (PSCP), over 300,000 farmers have been trained in sustainable farming practices. These focus on water conservation and reducing the use of chemical fertilizers and pesticides.
- Circular Economy: Primark has introduced a circular product range and aims to increase the durability of its clothing. The company is also working towards eliminating single-use plastics by 2027 and has implemented Textile Takeback boxes in 65% of its stores for recycling.
Social Impact
- Worker Welfare: Primark is dedicated to improving the livelihoods and resilience of the workers in its supply chain. This includes adhering to strict ethical standards, promoting fair wages and ensuring safe working conditions.
- Diversity and Inclusion: The company has established networks to foster a more inclusive workplace, addressing issues related to disabilities, diversity, gender, and LGBTQIA+ communities.
Governance
- Supplier Code of Conduct: Primark enforces a stringent Supplier Code of Conduct to ensure compliance with environmental laws and the promotion of ethical labour practices. The company provides training and support to suppliers to encourage and help them to reduce environmental impacts and improve working conditions.
Partner with Us
Develop a Net Zero strategy with Rise IQ that will attract investors and customers and navigate your company towards ESG recognition and financial success.
