Environmental, Social, and Governance
For too long fashion has thrived on excess. Rent the Runway was founded to — and continues to — disrupt the industry’s pollutive and exclusive norms via shared access.
RTR’s Impact Strategy tackles pressing environmental and social issues facing our industry that we are uniquely equipped to address as a rental subscription business.
Click here to learn the full details of our Impact Strategy driving our ESG work. Below are key highlights.
Environmental
Displace New Production
Displacing the need for new production of at least half a million garments through the next five years
Minimize Waste
Diverting 90% of waste from landfill for our warehouse operations, which means continuing to divert nearly 100% of unusable clothing from landfill
Offset Carbon Emissions
Offsetting 100% of carbon emissions from shipments to and from customers starting in fiscal year 2022
Social
Ensure Diversity of Our Workforce
Ensuring our workforce remains diverse and that leadership reflects the population of individual contributors
Support Diversity in Fashion
$10 million cumulative spend with Black designers in the next five years
Governance
As sustainability is at the core of our business, accountability for ESG matters starts at the highest level. The Nominating and ESG Committee of the Board of Directors is responsible for overseeing our ESG strategy and progress.
We’re committed to being transparent about our progress and plan to report against our Impact Strategy goals in our annual report beginning in 2023.
Being an agent of change is part of the fabric of Rent the Runway: we built a more sustainable business model for fashion by encouraging customers to buy less and wear more. We believe in the power of our platform to radically alter the trajectory of the fashion industry, and unlike most in the space, our ESG initiatives complement – rather than compete with – our bottom line.- Jennifer Y. Hyman, CEO, Co-Founder and Chair of Rent the Runway