Tapestry is making new sustainability commitments.
The New York City-based parent company of Coach, Kate Spade and Stuart Weitzman announced on Thursday that is has signed the the Science Based Targets initiative (SBTi) Business Ambition for 1.5°C, which calls on companies to set emission reduction targets to achieve net-zero global emissions by 2050, in line with the goals of the Paris Agreement.
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As part of its commitment, Tapestry will aim to achieve net-zero value chain greenhouse gas emissions by 2050.
“At Tapestry, we are committed to leading with purpose and embracing our responsibility as a global house of fashion brands to effect real and lasting change for our industry and our stakeholders,” said Tapestry CEO Joanne Crevoiserat in a statement. “Signing the Business Ambition for 1.5⁰C represents an important step forward in our journey to reduce our climate impact and make our planet more sustainable.”
In July, Tapestry outlined a series of environmental and social goals, including a commitment to procuring 100% renewable electricity in its stores, offices, and fulfillment centers by 2025. The fashion house also committed $25 million to establish the Tapestry Foundation, which will be matched with an equal contribution from the Coach Foundation to oversee certain responsibilities related to social and environmental goals.
In recent months, the commitment to achieve net zero has gained particular traction in the fashion and footwear industries. Running brand Brooks said in June that it plans to achieve net zero carbon emissions by 2040. In July, Crocs laid out a similar goal to become a net-zero company by 2030. And many athletic brands, including Nike and Adidas, have set a target date of 2050, in line with the Paris Agreement timeline.
As of Monday, more than 200 companies, including online retailer Asos, Canadian luxury department store chain Holt Renfrew and U.K. department store chain Selfridges, have signed onto Amazon’s Climate Pledge in an effort to reach net-zero emissions by 2040.