Tapestry Unveils Major Sustainability Initiatives, Including $3M Deforestation Pledge and 33MW Solar Project
Tapestry, the parent company of Coach, Kate Spade, and Stuart Weitzman, has announced significant initiatives in sustainability and renewable energy. The company has committed to reducing its carbon footprint and has partnered with various organizations to support deforestation initiatives and renewable energy projects.
Tapestry has pledged $3 million over four years to support deforestation initiatives in Brazil. Additionally, the company has joined forces with 11 other fashion brands, including Kering, LVMH, H&M, and Nike, to support a renewable energy project in Spain as part of the Fashion Pact. This global coalition aims to tackle climate change, biodiversity, and ocean health.
In another sustainability effort, Coach has expanded its takeback program for pre-owned bags to Canada, Germany, Malaysia, Singapore, China, Japan, and the UK. The program has successfully repaired over 63,000 products and given a second life to over 11,000 bags through its Coach (Re)Loved initiative.
Tapestry has also partnered with Pivot Energy to develop solar projects totaling 33 megawatts in six Illinois communities. The company has committed to purchasing 15 years of impact renewable energy credits produced by these projects, amounting to over 50,000 megawatt hours per year. Furthermore, Tapestry will invest $66,000 into local community organizations focused on equitable workforce development within the renewable energy sector.
These initiatives demonstrate Tapestry's commitment to sustainability and reducing its environmental impact. The solar projects alone are estimated to produce 750,000 MWh over 15 years, providing clean energy to more than 6,000 households annually starting in early 2025. With these efforts, Tapestry is well on its way to achieving its goal of zero emissions by 2050.
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