Ralph Lauren Pledges to Use 100% Renewable Electricity by 2025 and Joins RE100
NEW YORK--(BUSINESS WIRE)--Dec 2, 2019--
Ralph Lauren Corp. (NYSE:RL) today announced a series of pledges related to sustainability, including a commitment to power all of its globally owned and operated offices, distribution centers and stores with 100% renewable electricity by 2025 and join RE100, a group of the world’s most influential businesses committed to the use of renewable power. Building on the commitments outlined in the Company’s Design the Change strategy, today’s announcement advances its work to integrate citizenship and sustainability across its global business.
In addition, and ahead of the upcoming United Nations Climate Change Conference (COP 25) in Madrid, Ralph Lauren Corp. has made the following commitments:
- Signed the UN Fashion Industry Charter for Climate Action, which contains several climate-related commitments, including prioritizing the use of raw materials with low-climate impact and pursuing energy efficiency measures and renewable energy across the supply chain.
- Affirmed its commitment to the Paris Agreement by joining the “We Are Still In” coalition and signing a joint letter, alongside a number of leading companies and CEOs, urging the United States government to remain a signatory to the Paris Agreement.
Each one of these commitments is inspired by Ralph Lauren’s commitment to timelessness, an idea that is inherent in the Company’s Purpose and has guided its design vision and how it operates its business for more than 50 years.
“A world that is beautiful and cared for is the ultimate luxury, and we have a role to play in protecting it by addressing our impacts and creating a more sustainable future” said Patrice Louvet, President & CEO, Ralph Lauren Corp. “Today, we strengthen our commitment to address climate change, one of the biggest challenges facing our world, by joining the movement of companies driving the adoption of renewable energy and affirming our support for the Paris Agreement.”
To achieve its goal to power all owned and operated offices, distribution centers and stores with 100% renewable electricity by 2025, the Company will pursue a combination of virtual power purchase agreements (VPPAs) in North America as well as assess a select number of U.S. sites for onsite solar power installations. For the remaining electricity use, the Company will purchase Green Power Products, including Renewable Energy Certificates (RECs), Guarantees of Origin (GoOs) and International Renewable Energy Credits (I-RECs).
Next year, the Company will set a science-based greenhouse gas reduction target.
ABOUT RALPH LAUREN CORPORATION
Ralph Lauren Corporation (NYSE:RL) is a global leader in the design, marketing and distribution of premium lifestyle products in five categories: apparel, footwear & accessories, home, fragrances and hospitality. For more than 50 years, Ralph Lauren’s reputation and distinctive image have been consistently developed across an expanding number of products, brands and international markets. The Company’s brand names, which include Ralph Lauren, Ralph Lauren Collection, Ralph Lauren Purple Label, Polo Ralph Lauren, Double RL, Lauren Ralph Lauren, Polo Ralph Lauren Children, Chaps and Club Monaco, among others, constitute one of the world’s most widely recognized families of consumer brands. For more information, go to our Company website.
ABOUT DESIGN THE CHANGE
Design the Change, Ralph Lauren Corporation’s renewed strategy on global citizenship and sustainability, is both a commitment and a journey to accelerate the Company’s work across these areas. It is based on our belief that, together with our industry, we can deliver the change required to create a positive impact in society and a more sustainable future. Design the Change is focused on three areas: Creating Timeless Style, Protecting the Environment and Championing Better Lives and its foundation are ambitious goals that guide the Company’s work in citizenship and sustainability. The Company has also signed onto the United Nations Global Compact (UNGC), joining other companies across industries to implement universal sustainability principles and to take steps to support UN goals. For more information visit our Company website.
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SOURCE: Ralph Lauren Corp.
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PUB: 12/02/2019 09:00 AM/DISC: 12/02/2019 09:01 AM