Tapestry Recognized by USA Today As a 2024 Climate Leader

Rhea-AI Summary

Tapestry has been named to USA Today's 2024 America's Climate Leaders list, highlighting its commitment to sustainability within the fashion industry.

The company focuses on using environmentally preferred materials, such as recycled leather and post-consumer denim, aligning its efforts with the Science Based Targets Initiative (SBTi).

Significant achievements include a 57% reduction in Scope 1 & 2 GHG emissions and a 24% decrease in Scope 3 Forest, Land, and Agriculture (FLAG) emissions since FY2021.

Tapestry aims to continue its innovative and collaborative approach to sustainability, reinforcing the importance of responsible luxury.

Positive

• Named to USA Today's 2024 America's Climate Leaders list.
• 57% reduction in Scope 1 & 2 GHG emissions since FY2021.
• 24% decrease in Scope 3 FLAG GHG emissions since FY2021.
• 80% of electricity in own operations sourced from renewable energy in FY2023.

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• None.

NORTHAMPTON, MA / ACCESSWIRE / June 18, 2024 / Tapestry is honored to announce its inclusion in the USA Today 2024 America's Climate Leaders list. This recognition underscores our commitment to designing a better future and the impactful strides we have made in our climate action journey. As a house of iconic brands, Tapestry is dedicated to fostering a more sustainable fashion industry through innovation, high standards, and a dedication to reducing our environmental footprint. We do this through our framework, the Fabric of Change, our purpose-led blueprint for our accelerated ambition to make every beautiful choice a responsible choice.

Pioneering Innovation in Environmentally Preferred Materials
A key element of our sustainability strategy is a focus on innovation in environmentally preferred materials. We believe that true luxury is about crafting products that respect the planet as much as they inspire our customers. To this end, we have invested in researching and developing high-quality and environmentally preferred materials.

From using materials made with recycled leather fibers to post-consumer denim in our products, Tapestry is focused on sustainable material innovation. We aim to demonstrate that luxury and sustainability can and must go hand in hand.

Commitment to the Science Based Targets Initiative (SBTi)
Our dedication to sustainability is further evidenced by our commitment to the Science Based Targets Initiative (SBTi). By aligning our goals with the latest climate science, we ensure that our strategies are robust, credible, and capable of making a real difference.

Tapestry has set ambitious goals to reduce our greenhouse gas (GHG) emissions in line with the Paris Agreement's goal to limit global warming to 1.5°C. This involves a comprehensive approach that includes reducing emissions across our entire value chain, from sourcing and manufacturing to logistics and retail operations. Our targets underscore our belief that the fashion industry has a crucial role to play in addressing the climate crisis, and we are proud to be part of this transformative movement.

Reductions in GHG Emissions
One of the cornerstones of our environmental strategy is our approach to reducing greenhouse gas emissions. We are proud to report significant progress against our Scope 1 & 2 targets, reaching a 57% decrease in FY2023 since our FY2021 baseline. This has been accomplished through transitioning to renewable electricity sources, with 80% of our electricity from renewable electricity sources globally in our own operations in FY2023.

In addition, in FY2023 we achieved a 24% decrease in our Scope 3 Forest, Land, and Agriculture (FLAG) GHG emissions compared to our FY2021 baseline, thanks to a combination of innovative practices, strategic partnerships, and a culture of continuous improvement. Our efforts are about reducing carbon emissions and creating a resilient business model that can thrive in a low-carbon economy.

Looking Ahead
We will continue to innovate, set ambitious targets, and work collaboratively with our stakeholders to drive meaningful change. Being named to the USA Today 2024 Climate Leaders list is both an accolade and a reinforcement to further our efforts and inspire others to join us on this critical journey.

At Tapestry, we believe that the future of fashion is not just about what we create but how we create it.

Learn more about Tapestry's commitment to sustainability at tapestry.com/responsibility/our-planet/

View additional multimedia and more ESG storytelling from Tapestry, Inc. on 3blmedia.com.

Contact Info:
Spokesperson: Tapestry, Inc.
Website: https://www.3blmedia.com/profiles/tapestry-inc
Email: info@3blmedia.com

SOURCE: Tapestry, Inc.

View the original press release on accesswire.com

FAQ

What recognition did Tapestry receive in 2024?

Tapestry was named to USA Today's 2024 America's Climate Leaders list.

What are Tapestry's key sustainability achievements?

Tapestry achieved a 57% reduction in Scope 1 & 2 GHG emissions and a 24% decrease in Scope 3 FLAG GHG emissions since FY2021.

What sustainable materials does Tapestry use?

Tapestry uses recycled leather fibers and post-consumer denim in its products.

How much of Tapestry's electricity comes from renewable sources?

In FY2023, 80% of Tapestry's electricity in its own operations came from renewable sources.

What is Tapestry's commitment to the Science Based Targets Initiative?

Tapestry aligns its sustainability goals with the Science Based Targets Initiative to ensure robust and credible strategies.

How does Tapestry's sustainability strategy relate to its business model?

Tapestry's strategy aims to reduce carbon emissions and create a resilient business model for a low-carbon economy.

What significant GHG reduction did Tapestry report in FY2023?

Tapestry reported a 57% reduction in Scope 1 & 2 GHG emissions since FY2021.