Gildan Publishes its 2024 ESG Report Highlighting Advancements towards its 2030 ESG Targets

Rhea-AI Summary

Gildan Activewear (GIL) has released its 21st ESG Report, showcasing significant progress in its sustainability initiatives. The company achieved a 25.2% reduction in water intensity at manufacturing facilities compared to 2018 baseline. Notable improvements include increasing sustainable cotton sourcing to 77.3% in 2024 from 35.7% in 2023, and doubling recycled polyester usage. The company secured ISO 45001 certification for two additional facilities. Gildan received multiple recognitions, including its 12th consecutive year on the Dow Jones Best-in-Class North America Index, inclusion in S&P Global's 2025 Sustainability Yearbook, and CDP's Leadership Band for climate change disclosure. The company, which employs approximately 50,000 people, maintains ESG as a key pillar of its Gildan Sustainable Growth strategy.

Positive

• Significant increase in sustainable cotton sourcing from 35.7% to 77.3% year-over-year
• 25.2% reduction in water intensity at manufacturing facilities vs 2018 baseline
• Two additional facilities achieved ISO 45001 certification
• Doubled the percentage of recycled polyester usage from 2023 to 2024

Negative

• None.

MONTREAL, May 20, 2025 (GLOBE NEWSWIRE) -- Gildan Activewear Inc. (GIL: TSX and NYSE) (“Gildan” or “the Company”) is pleased to announce the publication of its 21^st Environmental, Social, and Governance (ESG) Report, outlining the Company’s continued progress against the ten targets of its Next Generation ESG strategy.

“Over the years, ESG, which is one of three pillars of our Gildan Sustainable Growth (GSG) strategy, has been foundational to support our low-cost manufacturing operations, unlocking innovative business solutions and our ability to meet changing customer and consumer needs,” says Glenn Chamandy, President and CEO of Gildan. “Just as importantly, it has also helped us to attract and retain an engaged, experienced, and highly skilled workforce, and maintain the trust and support of the communities in which we operate. Together with our ~50,000 employees, we are committed to continue making apparel with respect.”

In 2024, Gildan achieved notable advancements towards its Next Generation ESG targets as the Company:

• Reduced water intensity at its operated manufacturing facilities by 25.2% per kilogram produced (compared to a 2018 baseline) by leveraging innovative technologies and proprietary processes
• Increased the amount of sustainable¹ cotton sourced from 35.7% in 2023 to 77.3% in 2024
• Doubled the percentage of recycled polyester or alternative fibre and/or yarns sourced from 2023 to 2024
• Achieved ISO 45001 certification in two additional facilities in 2024, bringing the total number of certified facilities to five

Gildan also continued to be recognized for its ESG practices. The Company was:

• Included on the Dow Jones Best-in-Class North America Index (formerly the Dow Jones Sustainability™ North America Index), marking the Company’s 12^th consecutive year of inclusion in this index
• Included in the 2025 Sustainability Yearbook by S&P Global for the 13^th consecutive year
• Included in CDP’s Leadership Band in 2025 for our 2024 climate change disclosure – marking the fifth time that Gildan has achieved this recognition
• Named in the inaugural edition of TIME’s World Most Sustainable Companies
• Recognized as one of Canada’s Best 50 Corporate Citizens by Corporate Knights for the third consecutive year
  

The full 2024 ESG Report and supporting indices and documents can be found here. To further enhance transparency and streamline reporting, we have included information about the Company’s approach to key ESG topics on our corporate website.

^{1. We consider the following types of cotton to be sustainable: sustainable cotton provided through third-party verified programs that support environmental and/or social sustainability improvements and/or outcomes. Sustainable cotton from third-party verified programs includes, for example, verified U.S.-grown cotton (USCTP), Better Cotton (formerly BCI), organic cotton, recycled or regenerative cotton, and fair-trade cotton.}

About Gildan

Gildan is a leading manufacturer of everyday basic apparel. The Company’s product offering includes activewear, underwear and socks, sold to a broad range of customers, including wholesale distributors, screenprinters or embellishers, as well as to retailers that sell to consumers through their physical stores and/or e-commerce platforms and to global lifestyle brand companies. The Company markets its products in North America, Europe, Asia Pacific, and Latin America, under a diversified portfolio of Company-owned brands including Gildan®, American Apparel®, Comfort Colors®, GOLDTOE®, and Peds®, and under an exclusive licensing agreement for the printwear channel for Champion®.

Gildan owns and operates vertically integrated, large-scale manufacturing facilities which are primarily located in Central America, the Caribbean, North America, and Bangladesh. Gildan operates with a strong commitment to industry-leading labour, environmental and governance practices throughout its supply chain in accordance with its comprehensive ESG program embedded in the Company's long-term business strategy. More information about the Company and its ESG practices and initiatives can be found at www.gildancorp.com.

Investor inquiries: Jessy Hayem, CFA Senior Vice-President, Head of Investor Relations and Global Communications               (514) 744-8511 jhayem@gildan.com	Media inquiries: Genevieve Gosselin Director, Global Communications and Corporate Marketing (514) 343-8814 communications@gildan.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0af981b7-7b4a-4578-9f26-42f0a05b20a2

FAQ

What are the key achievements in Gildan's (GIL) 2024 ESG Report?

Key achievements include 25.2% reduction in water intensity, increasing sustainable cotton sourcing to 77.3%, doubling recycled polyester usage, and obtaining ISO 45001 certification for two additional facilities.

How much did Gildan (GIL) improve its sustainable cotton sourcing in 2024?

Gildan increased its sustainable cotton sourcing from 35.7% in 2023 to 77.3% in 2024, representing a significant year-over-year improvement.

What sustainability awards and recognitions did Gildan (GIL) receive in 2024-2025?

Gildan was included in the Dow Jones Best-in-Class North America Index, S&P Global's 2025 Sustainability Yearbook, CDP's Leadership Band, TIME's World Most Sustainable Companies list, and Canada's Best 50 Corporate Citizens.

How many employees does Gildan (GIL) currently have in 2024?

Gildan employs approximately 50,000 people across its operations.