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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/
