NEW YORK — June 15, 2021 — Ralph Lauren Corp. today announced its goal to achieve net zero global greenhouse gas (GHG) emissions from its operations and its value chain by 2040. The company also published a detailed Net Zero Commitment Statement, its strategy for achieving net zero and advancing established sustainability targets. This new strategy builds on the company’s existing GHG reduction commitment to lower absolute GHG emissions across its operations and supply chain by 30 percent by 2030 compared to Fiscal 2020 levels. It includes scaling investments in credible, nature-based carbon removals, starting with an initial partnership with Indigo Ag, the first scalable, registry-approved carbon credits for agriculture.
“Climate change is one of the most complex and challenging issues of our time — one that will require innovation, collaboration, technology and a fundamental shift in behavior to solve,” said Patrice Louvet, president and CEO, Ralph Lauren Corp. “Our net zero goal and roadmap are anchored in our belief that through deliberate action we can deliver the change required to reduce our climate impact and help create a more sustainable future for generations to come.”
The Company’s net zero approach entails reducing scope 1 and 2 emissions by using 100% renewable power in its stores, offices and distribution centers by 2025. To reduce emissions from scope 3 sources resulting from making its products, Ralph Lauren will collaborate with suppliers through collective actions and strategic programs to drive down GHG emissions in manufacturing facilities. Moreover, it plans to reduce GHG emissions from its raw materials by switching to preferred fibers with lower emissions impact than conventionally-grown fibers.
In the coming years, Ralph Lauren expects to expand its emissions reduction tactics to include collaboration with suppliers through collective action programs that accelerate the standardized approach to setting carbon targets and low-carbon action plans at the factory level, further empowering those partners to establish and implement climate strategies aligned with Ralph Lauren’s net zero objectives. Ralph Lauren’s net zero plan extends beyond reducing GHG emissions from its operations and suppliers in its value chain. For emissions that cannot be reduced through Ralph Lauren’s direct actions and collective initiatives, the company will purchase high-quality, verifiable carbon removals equivalent to its residual GHG emissions by 2040. To that end, beginning in Fiscal 2022, Ralph Lauren will commit to carbon removal projects in partnership with Indigo Ag, an ag-tech company dedicated to improving the profitability, sustainability and social responsibility of the agriculture system. Through the Indigo Carbon program, 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 through the purchase of verified agricultural carbon credits.
Aligned with its commitment to the climate goals identified in the Paris Agreement, Ralph Lauren’s new net zero pledge is its latest significant move to aid in mitigating the impact caused by its global operations and a key component of Design the Change, the company’s Global Citizenship & Sustainability strategy. The company’s net zero progress will be reported yearly in its annual Global Citizenship & Sustainability Report, a fully detailed corporate environmental and social status update on its sustainability approach.
Posted June 15, 2021
Source: Ralph Lauren