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JOANN Unveils Corporate Responsibility Impact Report, Showcasing Progress and Enhanced EVERGREEN Strategy

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JOANN Releases Corporate Responsibility Impact Report, Showcasing Progress and Updated EVERGREEN Strategy

JOANN Inc., the leading provider of sewing and fabrics with a wide range of arts and crafts offerings, has published its Corporate Responsibility Impact Report for Fiscal Year 2023. The report highlights the company's advancements across its EVERGREEN Strategic Pillars, which include creating an inclusive work environment, minimizing carbon footprint, promoting reusability, and supporting diverse customers and communities.

Commitment to Team Members

JOANN has been recognized for its efforts in building an inclusive workplace and providing benefits and support for its team members. The company has been named to Newsweek's lists of America's Greatest Workplaces for Diversity, LGBTQ+, and Women, as well as Forbes' list of America's Best Large Employers in 2023.

Community Engagement and Charitable Giving

In FY23, JOANN continued its dedication to charitable giving, donating over $4.7 million in product donations to underserved schools through its partnership with the Kids in Need Foundation. The company also raised and donated over $6.2 million to various organizations, including the National 4-H Council, Children's Miracle Network, and St. Jude Children's Research Foundation.

Environmental Sustainability

JOANN is actively working towards more sustainable processes and solutions, implementing energy efficiency improvements across retail stores and reducing packaging waste. These efforts have resulted in significant energy savings and a 15% reduction in overall packaging ordered in FY23.

Enhanced Governance and ESG Oversight

JOANN conducted a comprehensive Issue Prioritization Process, which included a climate risk assessment, materiality assessment, and evaluation of Scope 3 GHG emissions. These initiatives have strengthened the company's governance structure and provided a clearer understanding of its climate and social impact. In conclusion, JOANN's Corporate Responsibility Impact Report highlights the company's commitment to being a better corporate citizen. Through its EVERGREEN Strategy, JOANN aims to make a positive impact on its team members, communities, and the environment.

Hot Take: JOANN's Corporate Responsibility Impact Report and its Implications for New Businesses

JOANN Inc.'s recently published Corporate Responsibility Impact Report for Fiscal Year 2023 offers valuable insights for new businesses. The company's EVERGREEN Strategic Pillars, which emphasize inclusivity, sustainability, and community engagement, serve as a compelling model for emerging businesses.

Building an Inclusive Workplace

JOANN's commitment to creating an inclusive work environment has earned it recognition from Newsweek and Forbes. This underscores the importance of diversity and inclusion in today's business landscape. New businesses should take note: fostering an inclusive culture is not just a moral imperative, but a strategic one as well.

Prioritizing Sustainability

JOANN's efforts to minimize its carbon footprint and promote reusability highlight the increasing importance of environmental sustainability in business. For new businesses, integrating sustainability into their operations and strategies can not only reduce environmental impact but also enhance brand reputation and customer loyalty. In conclusion, JOANN's Corporate Responsibility Impact Report demonstrates that being a good corporate citizen can yield significant business benefits. New businesses can learn from JOANN's approach, leveraging inclusivity, sustainability, and community engagement as strategic assets for long-term success.
Story First Published at: https://financialpost.com/globe-newswire/joann-releases-corporate-responsibility-impact-report-highlighting-progress-and-updated-evergreen-strategy
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