Infinity Governance, Materiality & Reporting
Governance
Effective governance is fundamental to achieving our sustainability targets.
To advance positive change via our Infinity commitments, we seek continuous collaboration, transparency and independent advice, consulting a range of stakeholders and advisors with diverse perspectives and expertise, from our Executive Committee to our customers.
- YOOX NET-A-PORTER’s Executive Committee supports delivery of Infinity through senior sponsorship and review of quarterly updates, as does the Sustainability Committee of our parent group, Richemont.
- Our Sustainability team works with stakeholders across our entire business to direct, deliver, and monitor the implementation and progression of the Infinity strategy
- Our dedicated Employee Resource Groups (ERGs) and Diversity & Inclusion Council deepen internal visibility on the sustainability and inclusion issues most relevant for employees throughout our business.
- Through regular insight panels, our customers feedback on our activity and provide insights on how they prioritise sustainability, to ensure our work continues to resonate with them.
- Collaboration with external partners and our brand partners enables us to generate ideas that push our sustainability agenda further and share best practice.
Materiality
We built our Infinity strategy around the social and environmental issues that we at YOOX NET-A-PORTER are best placed to positively impact by 2030 – within our operations and throughout our value chain.
In 2019, we ran our first materiality assessment to identify the top sustainability concerns that matter most to our customers, partners and people. By analysing the latest internationally recognised ESG reporting standards, industry reports, and market trends, we reviewed and prioritised key social and environmental topics through focus groups and interviews with stakeholders, including employees, investors, NGOs, and brand partners. We identified 19 key topics, including sustainable packaging, carbon emissions, responsible sourcing, and diversity and inclusion. This work formed the basis of our Infinity strategy that was launched in November 2020.
In 2023, we conducted a second materiality assessment to evaluate our progress to date, and ensure our strategy remains focused on the most relevant sustainability issues. We identified 7 consolidated material topics: Circular Models, Customer Culture, Climate Change, Supply Chain Labour, Sustainable Products & Materials, Diversity & Inclusion, and Employee Engagement. Following a deep analysis of these results, we implemented a series of small amendments to our Infinity strategy to help guide over efforts over the coming years. These changes are highlighted and explained in Our Infinity Strategy, 2024 Updates.