US fashion brand Ralph Lauren aims to achieve net-zero target by 2040

The company has outlined its goals in its fiscal 2021 annual Global Citizenship & Sustainability Report, a detailed progress update on its Design the Change strategy.

Ralph Lauren has also published a Net Zero Commitment Statement that details how it expects to achieve its net zero target. These actions are in line with Ralph Lauren’s pledge to the climate goals identified in the Paris Agreement and build on the steps the company has already taken to reduce its carbon footprint throughout its value chain, it said in a press release.

The FY21 Report reflects Ralph Lauren’s continued focus on increasing transparency across environmental and social issues as well as its operations. The company has added the Task Force on ClimateRelated Financial Disclosures (TCFD) Index to this year’s report and discloses new carbon and water footprints. In the report, Ralph Lauren has also introduced expanded factory disclosures, which provide more clarity on the company’s operations by listing tier 1 factories that represent approximately 90 per cent of its apparel and home textile business volume.

Building on the workforce diversity data disclosures from previous years and the company’s focus on ensuring increased representation in its workforce — specifically its goal to have at least 20 per cent of the Global Leadership Team represented by underrepresented racial and ethnic groups by 2023 — the FY21 Report includes expanded workforce diversity data with additional gender and US race and ethnicity breakdowns, inclusive of the company’s board of directors, Global Leadership Team and corporate and non-corporate employees.

Looking ahead, beginning in Fiscal 2022, Ralph Lauren will incorporate key ESG metrics into its executive remuneration. These metrics will include the company’s advancements on its commitments to protect the environment and progress on its journey to deepen diversity and inclusion across its workforce.

“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 Patrice Louvet, president & CEO, Ralph Lauren Corporation. “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.”

Fibre2Fashion News Desk (KD)