Macy’s makes a $5 billion bet on sustainability and social change

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NEW YORK – Macy’s Inc. is rolling out a set of initiatives focused on corporate citizenship and positive social change.

The new social purpose platform, called Mission Every One, sets goals to support people, communities and the planet. The company plans to allocate $5 billion through 2025 to partners, products, people and programs that will foster a more equitable and sustainable future.

Certain goals will inform the company’s sourcing and product development decisions:

Sustainable materials: Company nameplates will promote the use of raw materials from sustainable sources, including cotton, synthetic and wood-based materials. Macy’s Inc. is aiming for 100% use of preferred materials in private label products by 2030.

Workers’ rights: Macy’s Inc. intends to advance workers’ rights, women’s equality and family well-being with its private label suppliers throughout the global value chain. It will conduct worker welfare audits at all of its strategic Tier 1 private label supplier facilities and invest $500,000 by 2025 with nonprofits involved in this work, including Fashion Makes Change .

Diversified design: The company is increasing its investments in Macy’s and Bloomingdale’s underrepresented designers, brands and business partners, products and service providers, bolstering existing initiatives to provide opportunities for women and Black-owned brands and businesses.

Waste reduction: The company invests in sustainable innovations that will help its operations reduce, reuse and reuse materials to eliminate waste.

Jeff Gennette, president and CEO of Macy’s Inc., noted that stakeholder communities now expect companies to actively contribute to the common good. “We are transforming our business from a position of heritage to a position of leadership. In this evolution, how we run the business is as important as what we sell.

The company outlined its comprehensive set of social purpose initiatives in an announcement posted on its investor relations site.

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