Chalhoub Group joins UN Global Compact Forward Faster initiative

Already a United Nations Global Compact (UNGC) signatory luxury retailer Chalhoub Group has joined a new initiative called the UN Global Compact Forward Faster. The aim is to accelerate private sector action at the pace and scale needed to deliver on the 17 Sustainable Development Goals (SDGs) and meet the 2030 Agenda.

The UN Global Compact Forward Faster initiative calls on business leaders around the world to take measurable, credible and ambitious action in areas that have the power to accelerate progress across all 17 SDGs where the private sector can collectively make the biggest and fastest impact by 2030.

Especially at a time when the SDG Progress Report released earlier this year by UN Secretary-General António Guterres showed that just 15% of the SDG targets are on track, progress on 48% is weak and insufficient and progress has stalled or gone into reverse on 37% of the SDGs.

On its part, Chalhoub Group has committed to nine targets in four action areas:

Gender Equality

• Equal representation, participation and leadership across all levels of management by 2030.
• Equal pay for work of equal value by 2030.

Climate Action

• Set corporate science-based net-zero emissions reductions targets in line with a 1.5°C pathway, with the goal of halving global emissions by 2030 and reaching net-zero by 2050 at the latest.
• Contribute to a just transition by taking concrete actions that address social impacts of climate change mitigation and adaptation measures in partnership with actors such as workers, unions, communities and suppliers.

Living Wage

• 100% of employees across the organisation earn a living wage by 2030.
• Establish joint action plan(s) with contractors, supply chain partners and other key stakeholders to work towards achieving living wages and/or living incomes with measurable and time-bound milestones.

Water Resilience

• Build water resilience across global operations and supply chains and join hands to achieve collective positive water impact in at least 100 vulnerable prioritised water basins by 2030.

“As we deeply embed sustainability into our core business, we are fully committed to SDG targets, and we are actively taking measures to accelerate progress within our business and across our operations. By joining the UN Global Compact Forward Faster initiative, we are committed to making a bigger and faster impact particularly in five key areas: gender equality, climate action, living wage and water stewardship and determined to make a real impact,” said Patrick Chalhoub, Group President, Chalhoub Group.