TIDMTHG
RNS Number : 7264O
THG PLC
12 October 2021
12 October 2021
THG PLC
Notice of Capital Markets Event and 2030 Sustainability
Strategy
Group commits to ambitious goal to be climate positive and
offset entire historical emissions
THG PLC ("THG" or the "Group"), the proprietary technology
platform specialising in taking brands direct to consumers ("D2C")
globally, is today hosting its inaugural Capital Markets Event for
analysts and institutional investors, focusing on its end-to-end
technology platform, Ingenuity.
In addition, the Group will set out its 2030 Sustainability
Strategy, and its ambitious goal to be climate positive and offset
its entire historical emissions.
The conference call and webcast for analysts and investors will
commence at 2.00pm (UK time), and a copy of the presentation made
to attendees will subsequently be made available on the Group's
website. No material new information will be disclosed today.
Since 2004, THG has been revolutionising how brands connect with
consumers. Today, THG drives the global growth of some of the
world's best-known brands. Across the Nutrition, Beauty and
OnDemand divisions, and now THG Ingenuity, the Group is renowned
for its partnerships with the some of the fastest growing
brands.
THG x Planet Earth is the Group strategy for a better,
sustainable future. Guided by the UN's Sustainable Development
Goals, our targets are centred around three key priorities:
-- Protecting Climate and Nature
-- Strengthening Our Supply Chain and Circularity; and
-- Empowering People and Communities.
As a vertically-integrated business, we are acutely aware of the
impact that big businesses have on the environment, and the great
responsibility and influence we hold with our people, communities
and suppliers in the UK and internationally. Our sustainability
goals reinforce the direction in which THG is travelling, providing
a formal structure and targets underpinned by science, data and
technology, and driven by our talented people all over the
world.
Matthew Moulding, Executive Chairman and CEO of THG,
commented:
"We are committing to use our global scale, our world-class
talent and our dedication to innovation, to act as a force for
good. More importantly, we are using our access to capital to
invest in and influence environmental and societal changes that
will benefit our planet today and create a sustainable future for
generations to come.
"Publishing our goals is our first step, and next year we will
publish our roadmaps to achieving each milestone target towards
2030. We have always been fast-paced, agile and responsive to
changes in the market, and our sustainability strategy is no
different - while we have our sights set on the year 2030, we will
certainly do our best to achieve more and work in partnership with
others to accelerate the pace of positive change.
"Events in 2020 and 2021 have demonstrated both the immensely
powerful and unpredictable nature of Planet Earth and the unity,
collaboration, resilience and desire from society to build a better
future. Our vision is to leave the world a better place than we
found it. It will take real responsibility and commitment from
every one of our people, suppliers and supporters, working in
partnership to help us achieve our shared goals."
Protecting Climate and Nature
THG's Goals
Climate: Be climate positive and offset our entire historical
emissions.
Nature: Have a net positive nature impact across our own
brands.
Water: Use water sustainably in high water impact areas of our
value chain.
THG's Targets
-- Publish Net Zero roadmap aligned to Science Based Targets by 2022
-- Offset all of THG's direct historical emissions by 2025
-- Transition to 100% renewable electricity for own operations by 2025
-- 50% of suppliers and THG Ingenuity partners to set carbon reduction targets by 2025
-- 100% sourced agricultural materials to be deforestation-free for own brands by 2025
-- Top 20% of own brand suppliers (by impact) to introduce
restorative agricultural practices by 2030
-- 30% reduction of water use in water stressed and own operation sites by 2030
-- 25% of product and ingredient suppliers to disclose water
usage and adopt Water Stewardship by 2030
Strengthening our supply chain and circularity
THG's Goals
Ethical Supply Chain: Protect human rights and work to eliminate
modern slavery in our supply chain.
Circularity: Transform all of our waste into resources for our
value chain.
THG's Targets
-- Implement a progressive Human Rights policy by 2023
-- All suppliers to commit to THG's ethical sourcing standards by 2025
-- 100% of own brand packaging to be recyclable, reusable or compostable by 2025
-- Zero waste to landfill from our own operations by 2030
-- To recycle more plastic than we produce by 2030
-- 70% of packaging from third party brands to be recyclable, reusable or compostable by 2030
Empowering people and communities
THG's Goals
Employee Wellbeing and Development: Create a workplace culture
which brings out the best in all.
Diversity and Inclusion: Promote policies and practices that are
inclusive for all at THG.
Investing in Our Communities: Support our communities and lead
initiatives to teach tech and life skills.
THG's Targets
-- Achieve at least 15% improvement in employee engagement score by 2025
-- Pay all direct staff, agency workers and contractors a living wage by 2025
-- All Tier 1 suppliers to pay a living wage by 2025
-- Achieve 50% female representation and at least 20% ethnic
minority representation in Graduate and
Apprenticeship schemes by 2025
-- Eliminate gender and ethnicity pay gaps across all THG divisions by 2030
-- Achieve 50% gender equality and at least 15% ethnic minority
representation on the Board and senior leaders by 2030
-- Provide 10,000 people in the community with technology and life skills training by 2030
-- Two days volunteering per year for every THG employee by 2025
THG Governance
Sustainability Committee
During 2020, the Board established a Sustainability Committee to
review and ensure that the Group has appropriate and effective
strategies, policies and operational controls to conduct their
business in a responsible manner (including performance against the
Group's sustainability strategy and in relation to environmental,
social and governance (ESG) matters). The Sustainability Committee
consists of the Chief Sustainability Officer, the Group Commercial
Director and two Non-Executive Directors.
Chief Sustainability Officer
THG's Chief Sustainability Officer is part of the Executive
Leadership Team. The Chief Sustainability Officer is accountable
for the ongoing development and implementation of the Group's
sustainability strategy and policies.
Remuneration
From 2022, THG's Chief Executive Officer (CEO) and members of
the Executive Board and Senior Leadership Team will each be set
relevant sustainability-linked objectives which will impact their
remuneration.
Management Oversigh t
To ensure effective delivery of the Group sustainability
strategy, THG will measure progress against the goals in senior
leadership objectives, and increase its focus on sustainability
alongside business outcomes in reviews. The sustainability strategy
will be reviewed every two years by the Chief Sustainability
Officer and the Sustainability Committee to ensure it meets
changing demands.
For further information please contact:
Investor enquiries - THG PLC
Kate Grimoldby Investor.Relations@thg.com
Media enquiries:
Powerscourt - Financial PR adviser Tel: +44 (0) 20 7250
1446
Victoria Palmer-Moore/Nick Dibden/Nick thg@powerscourt-group.com
Hayns
THG PLC
Viki Tahmasebi Viki.tahmasebi@thg.com
S
Notes to editors
THG ( www.thg.com ) is a vertically integrated, digital-first
consumer brands group, retailing its own brands in beauty and
nutrition, plus third-party brands, via its proprietary,
end-to-end, e-commerce technology, infrastructure and
brand-building platform (THG Ingenuity) to an online and global
customer base. THG's business is operated through the following
businesses:
THG Ingenuity : Ingenuity Commerce provides an end-to-end
direct-to- consumer e-commerce solution for consumer brand owners
under 'Software as a Service' (SaaS) licences. The wider Ingenuity
division provides stand-alone digital services, including hosting,
studio content, translation services and beauty product development
and manufacturing.
THG (eco) : THG (eco) is the driving force behind the Group's
sustainability action plan. THG Eco covers the core pillars of
THG's sustainability commitment: the planet, sustainable resources,
people and livelihoods.
THG Beauty : The globally pre-eminent digital-first brand owner,
retailer and manufacturer in the prestige beauty market, combining
its prestige portfolio of eight owned brands across skincare,
haircare and cosmetics, the provision of a global route to market
for over 1,000 third-party beauty brands through its portfolio of
websites, including Lookfantastic, Dermstore, Cult Beauty and
Mankind and the beauty subscription box brand GLOSSYBOX.
THG Nutrition : A group of digital-first Nutrition brands, which
includes the world's largest online sports nutrition brand
Myprotein, and its family brands (Myvegan, Myvitamins, MP Clothing
and Myprotein Pro), with a vertically integrated business model,
supported by six THG production facilities.
THG OnDemand : Personalisation and customisation is a key
offering within THG OnDemand, enabling brands to offer unique
products to a vast range of consumers across THG's global
territories through websites including Zavvi, IWOOT and Pop in a
Box.
Other : Luxury D2C websites including Coggles, AllSole and
MyBag, in addition to THG Experience. The latter comprises prestige
events locations at Hale Country Club & Spa, King Street
Townhouse Hotel and Great John Street Hotel, providing deeply
experiential brand building environments, most notably in support
of THG Society, the Group's proprietary influencer marketing
platform.
Cautionary Statement
This announcement may include "forward-looking statements" in
respect of the Group's operations, performance, prospects and/or
financial condition. Forward-looking statements are sometimes, but
not always, identified by their use of a date in the future or such
words and words of similar meaning as "anticipates", "aims", "due",
"could", "may", "will", "should", "expects", "believes", "intends",
"plans", "potential", "targets", "goal" or "estimates". By their
nature, forward-looking statements involve a number of risks,
uncertainties and assumptions and actual results or events may
differ materially from those expressed or implied by those
statements. Factors which may cause future outcomes to differ from
those foreseen in forward-looking statements include, but are not
limited to, those identified in the "Risk Management" section of
the Group's 2020 Annual Report. Accordingly, no assurance can be
given that any particular expectation will be met and reliance
should not be placed on any forward-looking statement.
Additionally, forward looking statements regarding past trends or
activities should not be taken as a representation that such trends
or activities will continue in the future.
Except as required by any law or regulation, no responsibility
or obligation is accepted to update or revise any forward-looking
statement resulting from new information, future events or
otherwise. Past performance cannot be relied upon as a guide to
future performance and persons needing advice should consult an
independent financial adviser. Nothing in this announcement should
be construed as a profit forecast.
This announcement does not constitute or form part of any offer
or invitation to sell, or any solicitation of any offer to purchase
any shares or other securities in the Group nor shall it or any
part of it or the fact of its distribution form the basis of, or be
relied on in connection with, any contract or commitment or
investment decisions relating thereto, nor does it constitute a
recommendation regarding the shares or other securities of the
Group. Statements in this announcement reflect the knowledge and
information available at the time of its preparation.
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