MANCHESTER – The Environmental Audit Committee (EAC) has welcomed news that fast fashion brand Boohoo is to link 15 per cent of its executive bonuses with Environmental, Social and Governance (ESG) improvements.
The committee had previously written to Boohoo boss Mahmud Kamani urging him to underline his firm’s commitment to sustainability and transparency by ensuring targets are met before his senior team are entitled to multi-million pound bonuses.
The Manchester brand has now agreed to the idea in part, and EAC chairman Philip Dunne MP was full of praise for the firm.
“Bonuses shouldn’t just be linked to breakneck growth. Today’s action demonstrates Boohoo’s commitment to becoming a responsible corporate citizen. I hope we are reaching a turning point in fast fashion's awareness of its environmental and social responsibilities and would encourage other firms to follow suit,” he said.