On Thursday, Tapestry Inc.’s stable of brands entered a new tier of the climate conversation.
Already, more than 1,000 businesses are working hand-in-hand with the Science Based Targets Initiative (a project of the Carbon Disclosure Project and the United Nations Global Compact, among others) to set verified science-based targets on emissions reduction across their supply chains.
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Tapestry Inc. — which includes brands such as Coach, Kate Spade, Stuart Weitzman — committed to SBTi’s Business Ambition for a 1.5 degrees-Celsius pathway for reducing emissions in line with the Paris Agreement.
Companies signing this business ambition are committing to net-zero emissions. Tapestry said in a statement it plans to reach net-zero global emissions by 2050 at the latest. The company also aims to set a long-term, science-based goal on reducing its broader greenhouse gas emissions footprint within that same time frame.
Tapestry’s chief executive officer, Joanne Crevoiserat, said the move marks a continual purpose-led journey, adding in a statement that, “signing the Business Ambition for 1.5 degrees-C represents an important step forward in our journey to reduce our climate impact and make our planet more sustainable.”
The SBTi calls the commitment an “urgent call to action” acknowledging how companies can use their influence to “incentivize other companies to follow suit and national governments to set supportive policies and targets for a net-zero emissions economy.”
As with other industry heavy-hitters counting billions in net sales, Tapestry boasts a sizable social and environmental impact that it looks to positively steer. In 2020, the company put forth $50 million in charitable giving (including COVID-19 relief efforts) while pledging to achieve 95 percent traceability and mapping of its raw materials.
The news follows Tapestry’s June publication of its eighth annual corporate responsibility report.
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