- Nordstrom, Inc. (NYSE: JWN) has announced its sustainability plans, which is focused on three main areas: climate change, the environmental impact of its merchandise and services, and circularity (recycling).
Nordstrom, Inc. (NYSE: JWN) has announced its sustainability plans, which is focused on three main areas: climate change, the environmental impact of its merchandise and services, and circularity (recycling). According to Fool.com, Nordstrom has six goals to meet by 2025:
1.) Designate a target number by which to lower greenhouse gas emissions.
2.) Decrease single-use plastic (including shopping bags) by 50%.
3.) Use at least 50% environmentally sourced materials in certain Nordstrom-made products.
4.) Repurpose at least 250 tons of merchandise.
5.) Determine 15% of merchandise to be sustainable.
6.) Contribute $1 million toward innovations in sustainable practices.
“Through this COVID-19 crisis, we’ve been given a unique opportunity to reimagine our future and rethink what kind of company we want to be for our customers, employees, and shareholders,” said Nordstrom, Inc. (NYSE: JWN) president and chief brand officer Pete Nordstrom. “It’s clear that to deliver value to our stakeholders and communities, environmental sustainability needs to be a priority for our company.”
By the end of the year, Nordstrom is planning to phase out the single-use plastic shopping bags at all 245 Nordstrom Rack off-price stores this year. And Nordstrom also pledged $100,000 to sustainability initiatives. Plus the fashion retail giant also joined Make Fashion Circular and the Sustainable Packaging Coalition. The company website also has a group of sustainable beauty products added to it.
Nordstrom recently announced it would offer $600 million in 8.75% senior secured notes that mature in 2025. These extra funds would help the fashion retail weather the economic crisis.
Featured Photo Credit: Image courtesy of Nordstrom, Inc.
