Canada's Fashion & Lifestyle Retailer is the First and Only in Canada to Set Approved Science Based Targets in the Retailing Sector TORONTO, June 24, 2021 /CNW/ - Holt Renfrew today announces a series of ambitious sustainability initiatives that reinforce its commitment to create a better future for people and planet. Holts is proud to be the first and only Canadian retailer to set approved science-based targets for carbon reduction. Underpinning these targets is a commitment to exit all animal fur and exotic skins by the end of the year and to ensure some of the most environmentally impactful materials across the business come from certified sustainable sources. Today's announcement places sustainability at the heart of Holt Renfrew. While recognising there is further to go, Holts is committed to reinventing retail for a better future, alongside the global Selfridges Group of stores. Holt Renfrew has had its emissions reductions approved by the Science Based Targets initiative as consistent with levels required to meet the goals of the Paris Agreement. The targets cover greenhouse gas (GHG) emissions from their operations (Scope 1 and 2), as well as Scope 3, consistent with reductions required to keep global warming to 1.5°C. Targets are as follows: A reduction in absolute Scope 1 and 2 GHG emissions by 65% by 2030, from a 2019 base year A reduction in absolute Scope 3 GHG emissions by 28% by 2030, from a 2019 base year 67% of Holt Renfrew's suppliers from purchased goods and services and upstream and downstream transportation will have science-based targets by 2025. Additional sustainability commitments include:

• The most environmentally impactful materials across the business will come from certified/verified sustainable sources by the end of 2025 – with a focus on cotton, leather, down and feathers, plastic packaging, palm oil, and forest-derived fibers (paper, wood, and cellulosic)
• The exit of all animal fur and exotic skins by December 31, 2021, in partnership with the Humane Society International/Canada
• The exit of cosmetic products that contain plastic glitter
• All denim assortments will come from certified/verified sustainable sources by end of 2025
• Improve waste diversion rates in all store locations to 85% by end of 2024

  Holts has developed Green Build Guidelines for design, visual, and construction teams that outline requirements for sustainable building materials and products that are good for the planet and that cultivate healthy indoor air quality . A recently launched partnership with TerraCycle that recycles beauty products and packaging collected in Holt Renfrew stores across the country "Since joining Holt Renfrew last year, the team and I have been listening to our customers, our employees, and our communities across the country to better understand what they want from Holts," says Sebastian Picardo, President & CEO, Holt Renfrew. "Our customers are at the centre of our business, and we want to ensure that sustainability and innovation are at the forefront of their experience at Holts." Picardo said further, "Retail can be a force for good, and we know that our customers want to make trusted, responsible purchases. Our 360-degree commitment to sustainability removes the barriers for them, allowing them to shop with confidence, in a responsible way." For more information about Holt Renfrew's Sustainability commitments and targets, please visit holtrenfrew.com About Holt Renfrew: Holt Renfrew is considered Canada's fashion and lifestyle retailer. Founded in Quebec City in 1837, Holt Renfrew is renowned for unparalleled retail experiences and is Canada's hub for the world's best fashion and beauty brands. Recognized as a leader in personal service and experiences, the company's mission is to empower self-expression and ignite positive change along with overarching commitments to sustainability and diversity and inclusion. With seven stores across Canada, including four in the Greater Toronto Area, plus Montreal, Calgary, and Vancouver, customers can also experience Holt Renfrew's offerings via holtrenfrew.com. Holt Renfrew was acquired by the Weston family in 1986 and continues to be privately and Canadian-owned as part of the Selfridges Group. Visit us at www.holtrenfrew.com.

The specific targets include:

• A reduction in absolute Scope 1 and 2 GHG emissions by 65% by 2030 (from a 2019 base year),
• A reduction in absolute Scope 3 GHG emissions by 28% by 2030 (from a 2019 base year), and
• a move where 67% of Holt Renfrew’s suppliers, as well upstream and downstream transportation, will have science-based targets by 2025.

Picardo went on to say, “Retail can be a force for good, and we know that our customers want to make trusted, responsible purchases. Our 360-degree commitment to sustainability removes the barriers for them, allowing them to shop with confidence, in a responsible way.” Adding to this week’s announcement are other sustainability commitments on the part of the retailer. Holt Renfrew says that the most environmentally impactful materials across its business will come from certified/verified sustainable sources by the end of 2025 which will include a focus on cotton, leather, down and feathers, plastic packaging, palm oil, and forest-derived fibres such as paper, wood and cellulosic. By the end of this year, Holt Renfrew will stop selling all animal fur and exotic skins in a partnership with the Humane Society International/Canada. Holts will also stop selling cosmetic products that contain plastic glitter. Construction is commonplace in Holt Renfrew stores as the company has been investing heavily in its fleet. In an effort to be more sustainable, the retailer says that it has developed Green Build Guidelines for design, visual and construction teams that outline requirements for sustainable building materials and products that benefit the planet and also cultivate heathy indoor air quality.

Luxury Canadian retailer to stop selling furs and exotic-skin materials by the end of the year. Holt Renfrew will stop selling animal furs and exotic skins by the end of the year. The announcement, part of a larger initiative to promote sustainability by the Canadian luxury retailer, signifies a marked shift for the company, which was founded as a furrier in Quebec City in 1837. “This is a really big deal,” Sebastian Picardo, president and CEO of Holt Renfrew, said via a virtual call. “Holt Renfrew started 184 years ago as a fur shop. So, for us to be exciting this is obviously a very important decision.” The move away from the product categories was “100 per cent based on insight,” according to Picardo. “From our customers, from our teams and from our brand partners,” Picardo says. “What we’re hearing is that people are highly concerned with the impact that certain materials have on people and the planet. As a result, we think that this initiative is 100 per cent customer-centric, rather than something that we are imposing on the customer.” The company worked with the Humane Society International/Canada to outline the exit of the materials. “Holt Renfrew’s progressive suite of sustainability commitments, including ending the sale of animal fur and exotic animal skins, is a tremendous step forward for animal protection and also a sign of changing consumer habits,” Rebecca Aldworth, the executive director of the society, said in a statement. “Today’s consumers are increasingly informed and motivated to ensure that their purchases are cruelty-free and sustainable.” Holt Renfrew’s retail partnership with brands that feature fur elements, such as those from the Canadian outerwear offerings Canada Goose and Moose Knuckles, will evolve in order to accommodate the changes, according to Picardo. “We are working very closely with our brand partners,” Picardo says. “I think everyone, even though brands are at different stages in their journey to sustainability, everyone realizes the importance of this. And the fact customers, employees and other partners they interact with want to see change.”   The retail executive says he’s confident that all brands will get on-board with the company’s sustainability initiatives. “Because it’s not only the right thing to do,” Picardo says, “it’s also the future of retail.” On Thursday, Canada Goose announced it would end the use of fur on its products by the end of next year. The decision to drop furs and exotic skins were among several points outlined in a recently released set of “science-based” sustainability targets approved by Science Based Targets initiative, which is a partnership between the not-for-profit organization CDP, the UN Global Compact, World Resources Institute, and the World Wide Fund for Nature. ” ‘Science-based’ is really about bringing credibility and scrutiny to the work that we’re doing so that it has real impact and it’s transparent and credible,” Picardo explains. Additional targets include reducing greenhouse-gas emissions by 65 per cent by 2030 (using 2019 as a base year for comparison) from Scope 1 and 2 operations, which are categorized as “owned or controlled sources,” as well as purchased energy such as electricity and heating/cooling, according to Carbon Trust. A further reduction target on emissions for Scope 3, via the company’s value chain, is set at 28 per cent by 2030. “The targets that were set are aligned with the Paris Agreement,” Picardo explains, referencing the global agreement that outlines the reductions required to hold global warming at 1.5 C. “Two-thousand-and-thirty may look far away, but it’s actually ambitious to deliver those targets in this length of time.” Picardo pointed to the company’s discontinuation of the sale of beauty products with plastic glitter on June 8, to coincide with World Oceans Day, along with its recently launched partnership with TerraCycle that sees beauty product packaging receptacles available in its seven stores across Canada, as already completed actions among the company’s sustainability mission. The list of targets, Picardo says, build off the greener plan first pioneered by the retailer’s in-house H Project department, which sees a “curation of products” that are ethically and environmentally focused offered among the more traditional luxury brands. “We feel we have an opportunity, and a responsibility, to take a leadership role — not only because of our expertise in the market for over 185 years, but also because we’re part of the Selfridges Group, which has the scale and the global knowledge to be able to do it,” Picardo says. “As COVID-19 impacts start to ease, we actually predict a sprint toward sustainability in the coming months and years. “And we want to be at the forefront — not just in Canada, but globally.”