Communication on Progress

Communication on Progress

Participant
Published
  • 18-Apr-2022
Time period
  • April 2021  –  April 2022
Format
  • Stand alone document – Basic COP Template
Differentiation Level
Self-assessment
  • Includes a CEO statement of continued support for the UN Global Compact and its ten principles
  • Description of actions or relevant policies related to Human Rights
  • Description of actions or relevant policies related to Labour
  • Description of actions or relevant policies related to Environment
  • Description of actions or relevant policies related to Anti-Corruption
  • Includes a measurement of outcomes
 
  • Statement of continued support by the Chief Executive Officer

  • Statement of the company's chief executive (CEO or equivalent) expressing continued support for the Global Compact and renewing the company's ongoing commitment to the initiative and its principles.

  • 18th April 2022

    To our stakeholders:

    I am pleased to confirm that lablaco reaffirms its support of the Ten Principles of the United Nations Global Compact in the areas of Human Rights, Labour, Environment and Anti-Corruption.

    In this annual Communication on Progress, we describe our actions to continually improve the integration of the Global Compact and its principles into our business strategy, culture and daily operations. We also commit to share this information with our stakeholders using our primary channels of communication.

    Sincerely yours,

    ShihYun
    Co-CEO & Founder

Human Rights
  • Assessment, policy and goals

  • Description of the relevance of human rights for the company (i.e. human rights risk-assessment). Description of policies, public commitments and company goals on Human Rights.

  • N/A

  • Implementation

  • Description of concrete actions to implement Human Rights policies, address Human Rights risks and respond to Human Rights violations.

  • Since 2017, lablaco continues to support diversity and minority groups through internal hiring and external collaborations.
    lablaco supports a group of Ukraine residents who suffered from wars by providing constant projects to work together, as well as the group of lgbtq and bipoc communities, showcasing their work at annual Circular Fashion Summit and supporting them with lablaco technologies to shift their business models towards a digitized circular fashion economy.

  • Measurement of outcomes

  • Description of how the company monitors and evaluates performance.

  • N/A

Labour
  • Assessment, policy and goals

  • Description of the relevance of labour rights for the company (i.e. labour rights-related risks and opportunities). Description of written policies, public commitments and company goals on labour rights.

  • Since the outbreak of pandemic, team members are decentralized all over the world, free of choice to work from anywhere they prefer.
    We respect and value the freedom of the co-workers without compromising responsibilities to deliver the work accordingly.
    We will continue to follow this application while monitoring the global pandemic and social-economic situation over time.

  • Implementation

  • Description of concrete actions taken by the company to implement labour policies, address labour risks and respond to labour violations.

  • N/A

  • Measurement of outcomes

  • Description of how the company monitors and evaluates performance.

  • Co-Executives Gender: 50% Woman; 50% Man
    Founding Team Gender: 50% Women; 50% Men
    Advisors Gender: 50% Women; 50% Men
    Diversity: team members from 10 countries of different cultural background

Environment
  • Assessment, policy and goals

  • Description of the relevance of environmental protection for the company (i.e. environmental risks and opportunities). Description of policies, public commitments and company goals on environmental protection.

  • lablaco is on a mission to empower brands and retailers to make the transition to a digitised circular economy from traditional business models for the fashion industry, as simple as possible. Radically shifting KPI from units sold (consumption) to units accessed (ownership). lablaco is currently world’s leading circular fashion ecosystem, connecting key stakeholders through Circular Fashion Summit and accelerating digitization powered by blockchain across realities with SPIN.

  • Implementation

  • Description of concrete actions to implement environmental policies, address environmental risks and respond to environmental incidents.

  • SPIN is the web3.0 platform for brands and retailers to natively active circular business models across realities. SPIN hosts a community of next-generation fashion curators and creators that enables everyone to become “co-owners” of the fashion pieces both digitally and physically. In doing so, we are disrupting $3 trillion traditional fashion industry, and enabling the transition to the new $5 trillion of the digitized circular fashion industry as stated on Year Zero - Circular Fashion Report 2020, co-produced with Vogue Business and PwC.

  • Measurement of outcomes

  • Description of how the company monitors and evaluates environmental performance.

  • Product Impact: CO2 and Water saved through recirculating products on the system

Anti-Corruption
  • Assessment, policy and goals

  • Description of the relevance of anti-corruption for the company (i.e. anti-corruption risk-assessment). Description of policies, public commitments and company goals on anti-corruption.

  • N/A

  • Implementation

  • Description of concrete actions to implement anti-corruption policies, address anti-corruption risks and respond to incidents.

  • N/A

  • Measurement of outcomes

  • Description of how the company monitors and evaluates anti-corruption performance.

  • N/A