Crocs Announces Commitment To Become A Net-Zero Company By 2030

What happened On July 26, Crocs, a global leader in innovative casual footwear, announced a strategic sustainability initiative — a commitment to becoming a net-zero company by 2030. To achieve this goal, Crocs is taking its strategic focus a step further on sustainable ingredients, packaging, investments in resource use, and innovative product afterlife solutions. Today, with its simple approach to design, materials, and manufacturing, the iconic Crocs Classic Clog already has a low carbon footprint, according to internally conducted and third-party verified CO2 eq calculations. Crocs is also finalizing its approach to a more sustainable bio-based Croslite#x2122; material, the predominant material in its footwear, to realize its vegan brand manifesto by the end of 2021. Moreover, corporate-initiated and consumer-led donations, recycling, and re-commerce programs have also been initiated to give Crocs shoes a second life, in addition to the company's supply chain. And Crocs continues to explore ways to minimize the impact of production scrap. Currently, 45 percent of Croslite#x2122; material production scrap is recycled, and Crocs will continue to explore ways to minimize its impact, including transitioning to renewably sourced energy in its offices and distribution centers. As Crocs CEO Andrew Rees said, "Taking action to reduce our environmental footprint by implementing more sustainable practices across our entire business is the right thing to do for Crocs." Beyond its environmental dedication, Crocs also announced it is publishing an annual ESG report in early 2022 to update its sustainability journey. The Jing Take Chinese consumers are more plugged in about sustainability issues than ever, primarily driven by the state’s call for green consumption. In September 2020, President Xi Jinping announced that China would peak its CO2 emissions before 2030 and aim for “carbon neutrality” by 2060. As such, Crocs’ move aligns with China’s environmental and political stance. In addition to addressing its environmental footprint, Crocs is underscoring its brand purpose as a vocal advocate for community and inclusivity rooted in governance, transparency, and accountability. The COVID-19 pandemic has facilitated a shift toward mindful consumption and a growing awareness of brand value chains, leading Crocs to use this opportunity to connect with China’s “woke” shoppers. The Jing Take reports on a piece of the leading news and presents our editorial team’s analysis of the key implications for the luxury industry. In the recurring column, we analyze everything from product drops and mergers to heated debate sprouting on Chinese social media.

Sectors

Insights

Company

Crocs Announces Commitment To Become A Net-Zero Company By 2030