SOURCE: Ralph Lauren Corporation
DESCRIPTION:
Today, we face a climate crisis, and we know ambitious near-term action to decarbonize our operations and value chain should be matched with long-term ambition. That is why this Climate Week, at Ralph Lauren, we are reaffirming our commitment to “Getting it Done.” Our goal to achieve net zero emissions across our value chain by 2040 will help reduce impact and contribute to a more stable climate for generations to come.
More specifically, we are prioritizing the elimination of emissions within our value chain. In June 2020, we set a science-based target to reduce absolute GHG emissions by 30 percent by 2030, in line with the global reductions needed to limit average temperature rise to 1.5 degrees Celsius.
We are also committed to using 100 percent renewable electricity in our stores, offices and distribution centers to address emissions in our owned and operated facilities. We are moving to sustainable production practices for our raw materials and reducing emissions from manufacturing in our product supply chain.
While our reduction efforts will be significant, they aren't enough to eliminate all of our GHG emissions. As part of our net zero strategy, we will supplement our reduction strategies with credible and impactful carbon removals. We acknowledge that the markets, initiatives and accounting systems for high-quality carbon removals are quickly evolving. We will continue to monitor and evaluate available options against external criteria to ensure additionality, permanence, robust quantification and verification as well as the delivery of social and environmental co-benefits.
We are making our first commitments to carbon removal projects this year with an intention to continue to scale our programs and investments. Through this aspect of our net zero strategy, we aim to drive the conservation of high-functioning ecosystems such as primary forests, advance regenerative agriculture to sequester carbon while building soil health and support reforestation projects where appropriate. We believe restoring the planet’s natural ecosystem cycles and biodiversity are vital to reducing warming and rising atmospheric greenhouse gas trends.
Download and read our full Net Zero Commitment Statement HERE.
KEYWORDS: NYSE:RL, Ralph Lauren
