South Korea's Misto unveils 2024 ESG report under new brand identity
In its latest report, the company adopted a Double Materiality Assessment aligned with the International Sustainability Standards Board (ISSB) and European Sustainability Reporting Standards (ESRS), identifying key sustainability issues, including climate action, sustainable product expansion, chemical management, greenwashing prevention, and supply chain management.
Misto Holdings released its 2024 sustainability reportâ€'its first under the new brand identityâ€'detailing ESG strategies across planet, society, and governance. Highlights include expanded Scope 3 emissions data, circular product launches, strengthened supplier compliance, global social initiatives, and a 158.7% rise in shareholder returns, reinforcing its renewed sustainability commitment.
In the Environmental (E) section, Misto expanded its Scope 3 greenhouse gas emissions disclosure categories from four to five, and, for the first time, disclosed emissions data across its supply chain. Biodiversity risk assessments were also conducted at key entities in South Korea, Mainland China, and Italy. Circular economy initiatives included the upcycling campaign Return to Care , reuse of sample materials into shoe risers and floor mats, and the official launch of FILA Re:Deuce —a sustainable product line under the FILA brand.
In the Social (S) area, Misto strengthened supply chain compliance through the introduction of third-party audits and held 25 supplier sustainability roundtable meetings and trained 27 suppliers in sustainable management practices. The company, along with Misto Korea and the FILA Museum Foundation, demonstrated strong social commitment through global initiatives such as Türkiye earthquake relief, support for underserved youth, and psychological care for cancer patients.
From a Governance (G) standpoint, Misto Holdings delivered notable progress to enhance shareholder value. Total shareholder returns in 2024 increased 158.7% year-over-year, with a payout ratio of 201.2%. Since last year, the company has strengthened cross-organizational alignment and execution by establishing 'Global Compliance Network,' an internal task force composed of compliance officers from Misto Holdings and its major subsidiaries, to share group-wide sustainability initiatives and strategies.
A Misto Holdings representative stated, 'With our recent name change, we are embracing our corporate responsibility for a sustainable future with greater responsibilities,' adding, 'We will continue to strengthen ESG management with unwavering determination and company-wide accountability to deliver real results and achieve sustainable growth.' Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (RM)
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