Ralph Lauren Corp. announced that by 2040, it aims to have net-zero global greenhouse gas (GHG) emissions from its operations and value chain. In addition, the firm released a comprehensive Net Zero Commitment Statement, outlining its approach for attaining net-zero and other specified sustainability goals.
This new strategy expands on the company's current GHG reduction goal to reduce absolute GHG emissions by 30% by 2030 compared to Fiscal 2020 levels throughout its operations and supply chain. It begins with cooperation with Indigo Ag, the first scalable, registry-approved carbon credits for agriculture, to scale investments incredible, nature-based carbon reductions.
Ralph Lauren Corp’s, President and CEO, Patrice Louvet, said climate change is one of the most complicated and difficult challenges of our day, requiring technology, innovation, collaboration, and a fundamental shift in behavior to address. Their net-zero objective and roadmap are based on their conviction that by taking intentional action, they can achieve the necessary changes to minimize their climate footprint and contribute to a more sustainable future for future generations.
By 2025, the Company plans to reduce scope 1 and 2 emissions by utilizing 100% renewable energy in its offices, stores, and distribution hubs, as part of its net-zero strategy. Ralph Lauren will work with suppliers through collective measures and strategic plans to drive down GHG emissions at manufacturing facilities in order to minimize emissions from scope 3 sources arising from the manufacture of its products. It also intends to minimize GHG emissions from its raw materials by moving to preferred fibers that have a lower carbon footprint than conventionally-grown fibers.
Ralph Lauren expects to expand its emissions reduction tactics in the coming years to include collaboration with suppliers through collective action programs that speed up the standardized approach to setting carbon targets and low-carbon action plans at the factory level, further empowering those partners to develop and implement climate strategies aligned with Ralph Lauren's net-zero objectives.
Ralph Lauren's net-zero strategy goes beyond lowering GHG emissions from its own operations and those of its value chain suppliers. Ralph Lauren will acquire high-quality, verifiable carbon reductions corresponding to its residual GHG emissions by 2040 for emissions that cannot be lowered by Ralph Lauren's direct efforts and collective activities.
Ralph Lauren will commit to carbon removal initiatives in collaboration with Indigo Ag, an ag-tech business devoted to enhancing the profitability, sustainability, and social responsibility of the agriculture sector, beginning in Fiscal 2022.
Indigo Ag supports farmers in adopting new beneficial farming practices, measures and validates the resulting carbon sequestration and emissions abatement, and allows companies to directly support farmers' transition by purchasing verified agricultural carbon credits through the Indigo Carbon program.
Ralph Lauren's new net-zero pledge, which is in line with the Paris Agreement's climate targets, is the company's next important step toward minimizing the effect of its worldwide operations and a crucial component of Design the Change, the company's Global Citizenship & Sustainability strategy.
The company's net-zero progress will be disclosed every year in its annual Global Citizenship & Sustainability Report, which is a comprehensive corporate environmental and social status update on its sustainability strategy.
A weekly report covering market and price information on the entire chain of polyester along with online access to daily polyester chain prices.
One-time reports that are issued annually cover the demand and supply trends in individual products including polyester, nylon, acrylic, viscose, and cotton.
One-time reports that are issued annually cover the demand and supply trends in the individual country's natural and manmade fiber/filament industries.
Countries Served Worldwide