June 18, 2007

Canada's oldest company publishes CSR report

TORONTO, ONT-The Hudson's Bay Company (Hbc) recently released its latest Corporate Social Responsibility (CSR) report. In doing so, Hbc is committed to providing the public with transparency on the Company's practices in the areas of environmental sustainability, ethical sourcing, treatment of associates and commitment to Canadian communities. Hbc governor and CEO Jerry Zucker said the company is one of the only Canadian retailers to report annually on its sustainability practices. The CSR report focuses on four key areas with the greatest impact on Hbc's stakeholders: environmental sustainability; associate development and wellness; community investmen; and ethical sourcing. Some of the initiatives Hbc undertook in 2006 include auditing factories for environmental policies, as part of the company's participation in the United Nations Millennium Goals; and expanding Hbc in-store waste recycling programs to include plastic hangers, shrink wrap and corrugated cardboard. As well, some Hbc trucks are now using biodiesel fuel, and 74% of energy use in Hbc stores is monitored and controlled remotely. Zucker added, "...I have mandated that a team of our executives continue to develop more environmentally sustainable practices at Hbc in the areas of product, packaging and waste, and to launch these initiatives publicly in 2007." Hbc's CSR report may be viewed on-line at www.hbc.ca.

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