STOCK TITAN

Samsonite commits to science-based climate target to maintain 100% renewable electricity in own operations and significantly reduce value chain emissions by 2030

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags

Samsonite International has announced ambitious climate targets aligned with the Science Based Targets initiative (SBTi). The company commits to maintaining 100% renewable electricity in its operations and reducing Scope 3 emissions from purchased goods and services by 52% by 2030 on an intensity basis per unit gross profit. The strategy focuses on increasing recycled materials usage, with products containing recycled materials accounting for 34% of net sales in 2023, up from 23% in 2022. Over 95% of the Group's emissions come from its value chain, with nearly 80% from purchased goods and services.

Samsonite International ha annunciato ambiziosi obiettivi climatici allineati con l'iniziativa Science Based Targets (SBTi). L'azienda si impegna a mantenere 100% di energia elettrica rinnovabile nelle sue operazioni e a ridurre le emissioni di Scope 3 relative a beni e servizi acquistati del 52% entro il 2030 su una base di intensità per unità di utile lordo. La strategia si concentra sull'aumento dell'uso di materiali riciclati, con prodotti contenenti materiali riciclati che rappresentano 34% delle vendite nette nel 2023, rispetto al 23% del 2022. Oltre il 95% delle emissioni del Gruppo proviene dalla sua filiera, con quasi l'80% derivante da beni e servizi acquistati.

Samsonite International ha anunciado objetivos climáticos ambiciosos alineados con la iniciativa Science Based Targets (SBTi). La compañía se compromete a mantener 100% de electricidad renovable en sus operaciones y a reducir las emisiones de Scope 3 de bienes y servicios adquiridos en un 52% para 2030 sobre una base de intensidad por unidad de beneficio bruto. La estrategia se centra en aumentar el uso de materiales reciclados, con productos que contienen materiales reciclados que representan 34% de las ventas netas en 2023, frente al 23% en 2022. Más del 95% de las emisiones del Grupo provienen de su cadena de valor, con casi el 80% de bienes y servicios adquiridos.

샘소나이트 인터내셔널은 과학 기반 목표 이니셔티브(SBTi)에 맞춘 야심찬 기후 목표를 발표했습니다. 이 회사는 운영에서 100% 재생 가능 전기를 유지하고, 구매한 상품과 서비스로 인한 Scope 3 배출량을 2030년까지 52% 줄일 것을 약속합니다. 이 전략은 재활용 소재 사용 확대에 중점을 두고 있으며, 재활용된 소재가 포함된 제품이 2023년 순매출의 34%를 차지하며, 2022년에는 23%였습니다. 그룹의 배출량 중 95% 이상이 가치 사슬에서 발생하며, 그 중 거의 80%는 구매한 상품과 서비스에서 나옵니다.

Samsonite International a annoncé des objectifs climatiques ambitieux alignés sur l'initiative Science Based Targets (SBTi). L'entreprise s'engage à maintenir 100% d'électricité renouvelable dans ses opérations et à réduire les émissions de Scope 3 liées aux biens et services achetés de 52% d'ici 2030 sur une base d'intensité par unité de bénéfice brut. La stratégie se concentre sur l'augmentation de l'utilisation de matériaux recyclés, avec des produits contenant des matériaux recyclés représentant 34% des ventes nettes en 2023, contre 23% en 2022. Plus de 95% des émissions du groupe proviennent de sa chaîne de valeur, avec près de 80% issues des biens et services achetés.

Samsonite International hat ehrgeizige Klimaziele angekündigt, die mit der Initiative Science Based Targets (SBTi) übereinstimmen. Das Unternehmen verpflichtet sich, in seinen Betrieben 100% erneuerbare Energie zu nutzen und die Scope 3-Emissionen aus gekauften Waren und Dienstleistungen bis 2030 um 52% auf Basis der Intensität pro Einheit Bruttogewinn zu reduzieren. Die Strategie konzentriert sich darauf, den Einsatz von Recyclingmaterialien zu erhöhen, wobei Produkte, die Recyclingmaterialien enthalten, 34% des Nettoumsatzes im Jahr 2023 ausmachen, im Vergleich zu 23% im Jahr 2022. Über 95% der Emissionen der Gruppe stammen aus ihrer Wertschöpfungskette, wobei fast 80% aus gekauften Waren und Dienstleistungen stammen.

Positive
  • Achieved 100% renewable electricity in operations two years ahead of target
  • Increased products with recycled materials from 23% to 34% of net sales (2022-2023)
  • Reduced carbon intensity of operations by 85% compared to 2017 baseline
Negative
  • 95% of emissions stem from value chain, indicating significant environmental impact
  • 80% of emissions come from purchased goods and services, showing high dependency on raw materials

Pledges to considerably expand use of recycled materials while maintaining long-standing commitment to durability

HONG KONG, Nov. 4, 2024 /PRNewswire/ -- Building on its heritage of innovation, durability and sustainability, Samsonite International S.A. ("the Company," together with its consolidated subsidiaries, "the Group;" SEHK stock code: 1910), today announced an ambitious near-term science-based climate target in alignment with the criteria of the Science Based Targets initiative (SBTi). The Company operates a portfolio of customer-centric brands including Samsonite, Tumi and American Tourister, as well as several other complementary brands. The Company commits to continuing to use 100% renewable electricity in all the Group's own operations. The Company will also significantly increase recycled materials used in products to reduce Scope 3 emissions from purchased goods and services 52% by 2030 on an intensity basis per unit gross profit1. The Company's new target is measured from a 2022 base year and was submitted to SBTi for validation last month. The Company's science-based climate target applies collectively to all the Group's brands worldwide.

"We are proud to leverage our leadership position to create a path towards a more sustainable future for the industry," said Kyle Gendreau, the Company's Chief Executive Officer. "We are partnering with our suppliers to significantly expand the use of recycled, lower-carbon materials while maintaining our long-standing commitment to durability."

According to the company's greenhouse gas (GHG) accounting, over 95% of the Group's emissions stem from its value chain (Scope 3), with almost 80% of its emissions coming from purchased goods and services, including raw materials used for internal manufacturing2. To achieve its target, the Company is focused on reducing material-related emissions in its global value chain by significantly increasing recycled content of the various types of plastics, aluminum and other materials of which its products are made.

The Group's global teams have built GHG emissions reduction roadmaps, specifying actions they will take to achieve the new 2030 target. "The actions laid out in our roadmaps are based on years of experience incorporating recycled content into our products. Since introducing our first product featuring recycled materials in 2018, we have continuously expanded their use into additional product components and collections," said Marina Dirks, Vice President, Global Head of Sustainability. In 2023, products made at least in part from recycled materials accounted for around 34% of the company's net sales, up from about 23% in 2022. "To achieve the emissions reductions, we look to further scale the use of recycled content, relying on solutions that we've already brought to market – which is why we are confident that we are able to meet our target."

To address emissions from its own operations, the Group will maintain 100% renewable electricity across its retail stores, manufacturing and distribution facilities and offices through a mix of onsite solar power generation, participation in utility and municipal green power programs, and purchases of Renewable Energy Certifications (RECs) and Energy Attribution Certificates (EACs). The Company will also continue to implement energy efficiency and decarbonization measures at its facilities. The Group achieved 100% renewable electricity in its own operations for the first time in 2023, two years ahead of its target date, and reduced the carbon intensity of its own operations by 85% compared to a 2017 baseline, far surpassing its goal of 15% by 2025.

This announcement is part of the company's global sustainability strategy, Our Responsible Journey, which launched in 2020 to help the Company further deliver on its purpose to empower a lifetime of journeys that move the world forward. Underpinned by sound governance, the strategy focuses on three pillars: Product, Planet, and People.

Learn more about Samsonite's sustainability strategy and progress in its 2023 Sustainability Report.

About Samsonite
With a heritage dating back to 1910, Samsonite International S.A. (the "Company", together with its consolidated subsidiaries the "Group"), is a leader in the global lifestyle bag industry and is the world's best-known and largest travel luggage company. The Group is principally engaged in the design, manufacture, sourcing and distribution of luggage, business and computer bags, outdoor and casual bags and travel accessories throughout the world, primarily under the Samsonite®, Tumi®, American Tourister®, Gregory®, High Sierra®, Lipault® and Hartmann® brand names as well as other owned and licensed brand names. The Company's ordinary shares are listed on the Main Board of The Stock Exchange of Hong Kong Limited ("SEHK").

For more information, please contact:


Samsonite LLC

Tel: +1 508 851 1586

Alvin Concepcion

Email: Alvin.Concepcion@samsonite.com 



Samsonite International S.A. – Hong Kong Branch

Tel: +852 2422 2611

William Yue

Email: william.yue@samsonite.com

Helena Sau

Email: helena.sau@samsonite.com

__________________________

1

"Intensity basis per unit gross profit" is defined as metric tons of CO2 equivalent emissions associated with goods and services purchased by the Group during each fiscal year, divided by the Company's gross profit for such fiscal year.

2

The Company measures Scopes 1, 2 and 3 categories as defined by the Greenhouse Gas Protocol. The company refers to 2022 Scope 3 data here as its 2023 data is not yet finalized at the time of publication.

 

Cision View original content:https://www.prnewswire.com/news-releases/samsonite-commits-to-science-based-climate-target-to-maintain-100-renewable-electricity-in-own-operations-and-significantly-reduce-value-chain-emissions-by-2030-302295316.html

SOURCE Samsonite

FAQ

What is Samsonite's (SMSEY) 2030 emissions reduction target?

Samsonite aims to reduce Scope 3 emissions from purchased goods and services by 52% by 2030 on an intensity basis per unit gross profit, while maintaining 100% renewable electricity in operations.

What percentage of Samsonite's (SMSEY) net sales came from recycled materials in 2023?

In 2023, products made at least partially from recycled materials accounted for approximately 34% of Samsonite's net sales, an increase from 23% in 2022.

How much did Samsonite (SMSEY) reduce its operational carbon intensity?

Samsonite reduced the carbon intensity of its operations by 85% compared to a 2017 baseline, exceeding its goal of 15% reduction by 2025.

SAMSONITE INTL UNSP/ADR

OTC:SMSEY

SMSEY Rankings

SMSEY Latest News

SMSEY Stock Data

3.48B
284.39M
0.08%
Footwear & Accessories
Consumer Cyclical
Link
United States of America
Luxembourg