Yoox Net-A-Porter (YNAP) Group, an Italian online luxury fashion retailer, has achieved its target of sourcing 100% renewable electricity throughout its managed facilities by the end of 2020. Within the RE100 corporate effort, which brings together worldwide firms dedicated to 100% renewable electricity, the Group has achieved its goal.
YNAP's long-term commitment to delivering CO2 emission reductions is shown in the Group's transition to entirely powering 17 sites, including warehouses and offices, in seven markets with renewable electricity, an achievement recognized by Climate Group as part of RE100 in July 2021. It represents a new step forward in the company's goal to being climate positive across its operations and private label value chain by 2030, as part of the company's "Infinity" sustainability plan, according to a press statement.
The Group has transitioned to a more sustainable mix of renewable sources, including solar, hydro, and bio-power, by working with local utilities and energy market providers across its worldwide facilities portfolio. YNAP has signed Green Contracts with local suppliers in Italy and the United Kingdom, its two major operational markets, accounting for 70% of the Group's total energy usage. These contracts indicate long-term investment in renewable energy generation in these key areas.
The Group purchased renewable energy credits (RECs) or their international equivalent to incentivize increased local renewable energy generation in countries where operated facilities managed by YNAP have a comparably smaller carbon footprint (US, UAE, Japan, China, and Hong Kong). YNAP has installed on-site solar panels to help promote a move to a green mentality within its facilities in Italy.
RE100 was founded by YNAP, the first online premium clothes shop. It became an early participant of the project in 2014 when it was launched. Following the Group's achievements in this field, YNAP's parent company, Richemont, joined the RE100 in February 2021, pledging to achieve 100% renewable electricity by 2025.
Following this significant achievement, Yoox Net-A-Porter is stepping up its efforts by continuing to cut emissions and actively engaging in Richemont's Science-Based Targets project (SBTi).
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