PVH Corp. Recognized for Second Year in a Row for Top Marks in Norges
Bank Investment Management (NBIM) Children's Rights Disclosure Rating
One of only 14 companies this year to score ten out of ten in a
ranking on measures and disclosures promoting
children's rights and safety in the supply chain
NEW YORK, Mar 27, 2012 (BUSINESS WIRE) --PVH Corp. (NYSE: PVH) was recognized in Norges Bank Investment
Management's 2011 NBIM Children's Rights Disclosure Rating as one of
only 14 out of 452 assessed companies to get top marks for managing and
reporting on the risks of child labor use and children's rights
violations in their operations and supply chains.
NBIM performs an annual assessment of whether companies in their
portfolio who are exposed to child labor and children's rights risks are
disclosing information in line with the NBIM Investor Expectations on
Children's Rights. These expectations include: preventing the worst
forms of child labor, including hazardous working conditions that may
physically or mentally damage children; sustaining the minimum age
standard; promoting child welfare; and using governance structures to
facilitate realistic strategies and responses to the management of child
labor and children's rights.
NBIM examines each company's public disclosure of information to
determine how the company scored on ten criteria (indicators) for
managing child labor and children's rights risks. PVH received a maximum
score of 10 in 2011, along with companies such as Walt Disney, Intel,
Adidas, and Hennes & Maurtiz. In 2010, PVH was also recognized in the
NBIM Children's Disclosure Rating as one out of only 9 companies among a
pool of 527 to achieve a maximum score of 10.
Emanuel Chirico, Chairman and Chief Executive Officer of PVH, said "We
are honored to be recognized for our efforts in preventing child labor
and promoting children's rights and safety. Corporate Social
Responsibility is central to our business strategy, and we continue to
be committed to furthering children's rights and to responsible,
transparent reporting and disclosure. We commend NBIM for publishing an
annual assessment which exposes child labor issues in the global supply
chain and promotes accountability. We hope that this recognition, and
others like it, will serve as a means to advance children's rights and
responsible corporate reporting practices in the apparel industry and
among all corporations."
The list of top ranked companies was published on March 26, 2011 and is
available on NBIM's webpage, www.nbim.no
along with detailed information on NBIM's Investor Expectations on
Norges Bank Investment Management (NBIM) manages the Norwegian
Government Pension Fund Global with assets of approximately USD 550
billion, and is a shareholder in PVH with holdings of approximately
458,000 shares as of December 31 2011.
About PVH Corp.
PVH Corp., one of the world's largest apparel companies, owns and
markets the iconic Calvin Klein and Tommy Hilfiger brands
worldwide. It is the world's largest shirt and neckwear company and
markets a variety of goods under its own brands, Van Heusen, Calvin
Klein, Tommy Hilfiger, IZOD, ARROW, Bass
and G.H. Bass & Co., and its licensed brands, including Geoffrey
Beene, Kenneth Cole New York, Kenneth Cole Reaction, MICHAEL
Michael Kors, Sean John, Chaps, Donald J. Trump
Signature Collection, JOE Joseph Abboud, DKNY, Ike
Behar and John Varvatos. For more information, please visit pvh.com.
SOURCE: PVH Corp.
Dana Perlman, 212-381-3502
SVP Business Development and Investor Relations