BALTIMORE, Sept. 27,
2022 /PRNewswire/ -- Under Armour, Inc. (NYSE: UA,
UAA) today announced the release of its 2021 Sustainability &
Impact Report, outlining a new sustainability framework, goals, and
targets that will guide the company's work to reduce the
environmental footprint associated with its products and operations
while accelerating its social and community impact.
Aligned with Global Reporting Initiative (GRI) and Sustainable
Accounting Standard Board (SASB) industry standards, the report
outlines 23 goals and targets designed to drive company progress
across three key pillars – Products, Home Field, and Team – and
underscore Under Armour's core values, including 'Act Sustainably'
and 'Stand for Equality.'
"As a global innovator and leader in athletic performance
apparel, footwear, and accessories, we believe Under Armour has an
important role to play in addressing impending challenges facing
our society, industry, and planet. This belief informs our
innovation methods and compels us to rethink, reinvent, and
reimagine our products and how we make them in our work to support
athletes and protect people and our shared planet," said
Colin Browne, Under Armour Interim
President and CEO. "Mindful that lasting change will require global
cooperation across communities and industries, our new report
conveys our renewed commitments to continuous improvement,
industrywide collaboration, and transparent communication with our
stakeholders in our ongoing sustainability journey."
Under Armour's sustainability approach, What's Under
Matters, reflects the company's mission to make athletes better
by focusing on performance-driven innovations that utilize more
sustainable materials designed for recyclability and more efficient
production processes in its delivery of durable, quality,
high-performing products athletes know and trust.
"The details underlying a company's sustainability strategy are
foundational to its longevity and ability to generate lasting
impact. For this reason, Under Armour has worked diligently over
the years to finalize our approach and take concerted action before
releasing this report," said Michael
Levine, Under Armour VP and Chief Sustainability Officer.
"We're pleased to share our accomplishments and perspective on our
future goals, and we look forward to providing updates on our
progress."
A selection of report highlights within each pillar follows:
Products – Through 10 goals, the company is
embracing material innovations that will enable less waste and more
durability, setting the stage for circular systems by 2030,
including:
- Prioritizing recycled and renewable materials and reducing
single-use plastic brand product packaging by 75% by 2025.
- Implementing sustainability and circular design principles in
at least half of its products by 2027 and developing chemistry and
processes that can enable a circular footwear program to be
launched in market, at scale, by 2030. At the end of 2021,
approximately 40% of fabrics used in the company's apparel and
accessories were made from materials capable of being
recycled.
- Supporting innovation that reduces fiber shedding from textiles
and targeting 75% of fabric to be made of low-shed materials, as
defined by industry-leading guidance on fabric shedding that the
company will work collectively to shape by 2030.
Home Field – The company is working to reduce its
overall environmental footprint and do its part to protect the
planet through seven goals, including:
- Eliminating 100% of biocides and fluorine DWR in its products
by 2025.
- Reducing absolute scope 1, 2, and 3 greenhouse gas emissions by
30% and increasing renewable energy in owned and operated
facilities to 100% by 2030.
- Advancing low-impact manufacturing, reducing the environmental
impact of its materials, and targeting net-zero emissions by
2050.
Team – The company is supporting its people and
communities through six goals that build upon longstanding efforts,
including:
- Continuing to invest in teammates' health, safety, and
well-being – including through initiatives to advance diversity,
equity, and inclusion and develop underrepresented talent at all
levels.
- Protecting workers' human rights and well-being in its supply
chain through comprehensive programs and audits.
- Working to create opportunities for millions of youths to
engage in sports by 2030.
To download the 2021 Sustainability & Impact Report and for
further information on Under Armour's sustainability program, visit
this link.
About Under
Armour
Under Armour, Inc., headquartered in Baltimore, Maryland, is a leading inventor,
marketer, and distributor of branded athletic performance apparel,
footwear, and accessories. Designed to empower human performance,
Under Armour's innovative products and experiences are engineered
to make athletes better. For further information, please visit
http://about.underarmour.com.
Forward-Looking
Statements
Some of the statements contained in this press release
constitute forward-looking statements. Forward-looking statements
relate to expectations, beliefs, projections, estimates, future
plans and strategies, anticipated events or trends, and similar
expressions concerning matters that are not historical facts, such
as statements regarding our goals, targets, commitments, future
planned initiatives, and the timing and effectiveness of any of the
foregoing, including those relating to the environment, human
capital matters, social and labor issues, and community impact; the
development and introduction of new products, technologies and ways
of working; our assumptions and the implementation of our
sustainability strategies; the future impacts of our investments
and initiatives; and the standards and expectations of third
parties. In many cases, you can identify forward-looking statements
by terms such as "may," "will," "should," "expects," "plans,"
"anticipates," "believes," "estimates," "predicts," "outlook,"
"potential," or the negative of these terms or other comparable
terminology. The forward-looking statements contained in this press
release reflect our current views about future events and are
subject to risks, uncertainties, assumptions, and changes in
circumstances that may cause events or our actual activities or
results to differ significantly from those expressed in any
forward-looking statement. Although we believe that the
expectations reflected in the forward-looking statements are
reasonable, we cannot guarantee future events, results, actions,
activity levels, performance or achievements. Readers are cautioned
not to place undue reliance on these forward-looking statements. A
number of important factors could cause actual results to differ
materially from those indicated by the forward-looking statements,
including our assumptions not being realized, scientific or
technological developments, evolving sustainability strategies,
evolving government regulations, and the risks and uncertainties
set forth in the "Risk Factors" section of our most recent Annual
Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q
filed with the U.S. Securities and Exchange Commission. The
forward-looking statements contained in this press release reflect
our views and assumptions only as of the date of this press
release. We undertake no obligation to update any forward-looking
statement to reflect events or circumstances after the statement's
date or to reflect unanticipated events.
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SOURCE Under Armour, Inc.