Ralph Lauren shoots for zero emissions by 2040
Iconic American fashion company Ralph Lauren Corporation has published its global citizenship and sustainability report for fiscal 2021, revealing its progress with its environmental and social goals and establishing ambitious new targets, including the reduction of its greenhouse gas (GHG) emissions to zero by 2040.
The New York-based company’s zero emissions target builds on its existing goal to reduce its absolute GHG emissions across its operations and supply chain by 30%, compared to fiscal 2020 levels. The newly announced objective is accompanied by a Net Zero Commitment Statement, which details how Ralph Lauren expects to achieve its goal.
This also marks the first time that the company has added the Task Force on Climate-Related Financial Disclosures (TCFD) Index to its annual report, a move which increases the group’s transparency for both environmental and social issues. On top of this, the document includes expanded factory disclosures, listing tier-one factories that account for around 90% of Ralph Lauren’s apparel and home textile business volume.
In terms of diversity, the company’s latest report also tracks its progress on achieving key goals, such as having at least 20% of its global leadership team represented by underrepresented racial and ethnic groups by 2023.
“The convergence of the global pandemic, climate crisis and call to action to dismantle systemic racism has been a catalyst for the business community to focus and accelerate its progress toward a more equitable and sustainable future,” said Ralph Lauren Corporation president and CEO Patrice Louvet in a release. “We embrace that call to action wholeheartedly at Ralph Lauren, demonstrated by the progress our teams have made in the last year – including our increased transparency, climate goal and integration of ESG metrics into executive remuneration.”
Other achievements highlighted in Ralph Lauren’s Global Citizenship & Sustainability Report include the production of 33% of its products in line with its sustainable material criteria in fiscal 2021 and the launch of a new three-stage circularity strategy. This involves targets to achieve Secure Cradle to Cradle certification for five iconic products by 2025, establish resale and recycling experiences for consumers by 2022, and produce 100% recycled cotton products by 2025.
Over the course of the last fiscal year, the company also launched its Color on Demand program, which seeks to deliver the world’s first scalable zero-wastewater cotton dyeing system, and continued its ongoing partnership with the World Wildlife Fund.
Finally, the fashion group pointed out that, alongside the Ralph Lauren Corporate Foundation, it made $20 million in combined charitable contributions in fiscal 2021.
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