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Gucci, Ferragamo, Ralph Lauren, Zegna Sign Renewable Energy Initiative – WWD

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As the energy crisis impacts Europe, The Fashion Pact has brought together some of its biggest brands to create the Collective Virtual Power Purchase Agreement, which will help the fashion industry to move to renewable electricity.

The companies include Bally, Michael Kors and Versace owner Capri Holdings Ltd.; Ermenegildo Zegna Group; Farfetch; Ferragamo; Gucci, and Saint Laurent parent company Kering; Ferragamo; Prada Group; Calvin Klein and Tommy Hilfiger owner PVH Corp.; Ralph Lauren; Coach and Kate Spade parent company Tapestry Inc.; Under Armour, and Zimmermann.

The 12 chief executive officers have committed to procuring renewable electricity with the goal of getting to 100 percent renewable energy across their companies’ own operations by 2030.

“The Fashion Pact was created to bring together fashion and textile industry players to set practical objectives for reducing the environmental impact of their industry. Using 100 percent renewable energy across our own operations by 2030 is one of the concrete, science-based targets that we all agreed on,” said Kering chair and CEO François-Henri Pinault.

“We are now taking action with the launch of this Collective Virtual Power Purchase Agreement aimed at accelerating the transition to clean energy. This is a clear illustration that companies can be part of the solution if they go beyond mandatory requirements and if they concentrate their efforts on the same initiatives,” Pinault said.

The Fashion Pact was spearheaded in 2019 by Pinault, who was mandated for the job by French President Emmanuel Macron, and presented to heads of state at the G7 Summit held in Biarritz that year. The global initiative brought together 32 companies, which has grown to 75, to apply science-based targets to research, establish programs with concrete goals and enable the sustainable transformation of the fashion industry.

The CEO signatories focused on the collective action of the new energy agreement, bringing together big brands and competitors to make measurable reductions.

“Collective action is more impactful than the actions of single players and this CVPPA demonstrates that together we can truly pioneer systemic change,” said Salvatore Ferragamo CEO Marco Gobbetti.

“Joint action is critical to driving solutions that address the fashion industry’s contributions to climate change. The Collective Virtual Power Purchase Agreement conveys that industry leaders are taking action to drive progress against renewable electricity targets and demonstrates the value of collective effort in tackling the fashion industry’s carbon footprint,” said PVH Corp. CEO Stefan Larsson.

“Innovation and group action are essential if we want to make significant progress in our Positively Farfetch strategy, and specifically our goals in relation to climate change. This project epitomizes what can be achieved as a collective,” said Farfetch chair and CEO José Neves.

“The CVPPA that we are committing to today is an important step toward eliminating our Scope 2 emissions,” said Ermenegildo Zegna Group chair and CEO Gildo Zegna. “This would not have been possible without the Fashion Pact’s leadership and the participation of our industry peers and to ensuring that we meet our sustainability goals and this project is one example of our industry’s willingness to make meaningful changes.”

The CVPPA energy initiative was created in partnership with the energy consultancies Guidehouse and venture capital group 2050, as a first-of-its-kind for the fashion industry. The Fashion Pact stresses that this is an initial test phase, and hopes to expand the program geographically and across the industry to reduce fashion’s greenhouse gas emissions.

“Scaling positive impact in our industry requires group action and breakthrough innovation. Partnering with The Fashion Pact on initiatives like the CVPPA demonstrates how working together can effect meaningful change,” added Ralph Lauren president and CEO Patrice Louvet.

The Fashion Pact is continuing its work on bringing the industry to hit sustainability milestones in renewable energy, lowering greenhouse gasses, eliminating plastic packaging and stopping deforestation within brands’ supply chains.



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