Ralph Lauren Corporation Sustainability Reporting 2012
|Company||Ralph Lauren Corporation|
|Filer||New York State Comptroller|
|Resolved Clause Summary||Sustainability Report|
|Status||Withdrawn; Company will address|
WHEREAS, Investors and consumers increasingly request that companies report their environmental initiatives. A recent KPMG survey found that 80% of the Global Fortune 250 companies release corporate responsibility (or “sustainability”) data, up from 64% in 2005.
Major institutional investors managing over $16 trillion in assets such as Deutsche Bank and Goldman Sachs have signed onto the United Nations Principles for Responsible Investment, thus promising to incorporate sustainability into investment analysis and decision-making.
We believe developing a sustainability report allows a company to be more responsive to the global context of finite natural resources, shifting legislation, and changing public expectations of corporate behavior. The reporting process helps companies to: gain value from existing corporate social responsibility efforts, identify gaps and opportunities, develop company-wide communications, and publicize innovative practices or respond to critiques.
In 2007, the Intergovernmental Panel on Climate Change found “warming of the climate system is unequivocal” and manmade greenhouse gas (GHG) emissions are now believed, with greater than 90% certainty, to be the cause.
We believe Polo Ralph Lauren will benefit from disclosing and mitigating its impact on the environment and society. Given that is engaged in toxic waste management operations (which have major impacts on the environment), we believe the importance of a corporate-wide analysis of sustainability issues is especially important.
RESOLVED, Shareholders request that the Board of Directors issue a sustainability report to shareholders. The report, which shall be of reasonable cost and omit proprietary information, should be issued by December 2012.
The report should include the company’s definition of sustainability, as well as a company-wide review of company policies, practices, and metrics related to long-term social and environmental sustainability.
We recommend that Polo Ralph Lauren be guided by the Global Reporting Initiative’s (GRI) Sustainability Reporting Guidelines (“the Guidelines”) to prepare the report. The GRI is an international organization developed with representatives from the business, environmental, human rights and labor communities. The Guidelines cover environmental impacts, labor practices, human rights, product responsibility and community impacts. The Guidelines provide a flexible reporting system that allows the omission of content irrelevant to company operations. Over 1500 companies use or consult the Guidelines for sustainability reporting, including BASF, The U.S. Army, and Exxon.