Crocs Lays Out Plan to be Net Zero by 2030
Crocs is aiming to become a net zero company by 2030, the company said Wednesday.
To reach this goal, the company has outlined a series of initiatives focused on minimizing the brand’s carbon footprint and impact on the environment.
On the materials side, Crocs plans to use more sustainable ingredients for its products and packaging materials, with a goal to be a 100% vegan brand by the end of 2021. While 45% of the production scrap from Croslite, the main material used to make Crocs, is currently recycled, the brand is aiming to make this material even more sustainable moving forward.
Crocs also plans to minimize the use of packaging materials and is looking at alternative ways to present product to consumers. To keep used pairs out of landfills, Crocs is investing in methods for reusing and donating used products. Crocs also plans to transition to “renewably sourced energy” in offices and distribution centers, the release said.
“Taking action to reduce our environmental footprint by implementing more sustainable practices across our entire business is the right thing to do for Crocs,” said CEO Andrew Rees in a statement. “As a company, we are deeply committed to accountability and we’re confident that we have the right team, the right innovations and the right partners to help us achieve our net zero ambitions by 2030.”
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According to a May survey of 1,000 shoe shoppers conducted by Footwear Distributers and Retailers of America (FDRA) and tech firm First Insight, terms such as “eco-friendly” and “recycled” resonated with consumers making choices about which footwear products to purchase.
Crocs is set to release Q2 earnings early Thursday. Analysts expect to see another successful quarter for the brand that has consistently demonstrated top-and bottom-line growth. In April, Crocs reported a revenue spike of 63.6% to $460.1 million in Q1.
