admin Neiman Marcus Group has committed to the Science-Based Targets initiative (SBTi) and become a sponsor for the Supplier Leadership on Climate Transition (Supplier LOCT) program to support its brand partners in addressing challenges concerning climate change.
The move, part of the group’s broader environmental, social, and governance (ESG) strategy, sees Neiman Marcus Group (NMG) become the first luxury retailer to sponsor the Supplier LOCT program.
As outlined in its second annual ESG report, NMG is working to reduce scope 3 emissions throughout its supply chain, and Supplier LOCT will be a driving force in this regard. “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 at NMG, in a statement.
“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 comes as NMG continues to make progress with its current climate journey, procuring 19.9 percent renewable energy in FY22 in support of its goal to transition to 100 percent renewable electricity by 2030 and the completion of its Scope 3 emissions screening, which has helped the company identify and understand the broader impact of its operations.
Through the Supplier LOCT program, NMG is offering its suppliers the opportunity to participate in seminars designed to provide practical steps for setting and meeting emission reduction targets. To date, 35 suppliers have been enrolled by NMG, including 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.
“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, in a statement. “Supplier LOCT squarely addresses the missing link in the supply chain emissions puzzle.”
