Dive Brief:
- As part of a long-range corporate sustainability goal of 100% renewable energy, Tapestry announced a partnership with national energy firm Pivot Energy to develop solar projects totaling 33 megawatts in six Illinois communities.
- Tapestry, which owns the Coach, Kate Spade and Stuart Weitzman brands, has committed to purchasing 15 years of impact renewable energy credits produced by the projects, which will produce more than 50,000 megawatt hours per year with a total estimated 750,000 MWh over the course of 15 years. These community solar projects are set to come online and will deliver clean energy to more than 6,000 households annually, beginning in early 2025, the company said.
- By supporting clean energy projects and engaging with local communities, Tapestry says it is demonstrating to its global fashion suppliers its own commitment to renewable energy and sustainable operations.
Dive Insight:
While Tapestry has pledged to reduce its carbon footprint over the next 25 years with a goal of zero emissions by 2050, company executives said they felt the need to tackle renewable energy by supporting outside projects that the fashion company could not accomplish within its own four walls.
“I think our commitment to 100% renewable energy and this project specifically is because it’s very difficult for us to address renewable energy in our retail stores that are small, have small roofs, are in a lot of urban and rural areas, where we don’t have the ability to put solar on our roofs,” said Logan Duran, vice-president of ESG and sustainability at Tapestry. “We are in a lot of leased spaces where we don’t have a lot of control in order to do this. So, supporting a project like this allows us in a broad way to address our scope to energy needs and emissions.”
The renewable energy credit donations tied to each megawatt constructed will go to local nonprofit organizations focused on equitable workforce development within the renewable energy sector. These organizations provide training to underrepresented groups that live in the counties where the projects will be built.
Tapestry is funding the solar projects, and along with Pivot, will invest $2,000 per MW built, or $66,000 in total into local community organizations, according to the release.
“At Tapestry, we know that sustainability is a business imperative,” Duran said in a statement. “As part of our 2025 corporate responsibility goals, we committed to procuring 100% renewable electricity in our own stores, offices and fulfillment centers globally by 2025. We also recognize the power of partnerships to drive meaningful change in key environmental and social areas which is why we are thrilled to join with Pivot Energy in implementing these projects in Illinois.”
In addition to the Illinois project, Tapestry recently partnered with 11 other fashion brands that are supporting a renewable energy project in Spain as part of the Fashion Pact. Tapestry also committed $3 million over 4 years to support deforestation initiatives in Brazil.
Additionally, Coach has ramped up its takeback program for pre-owned bags. In addition to its take back in the U.S., the company rolled out take back programs in Canada, Germany, Malaysia, Singapore, China, Japan and the U.K. To date, over 63,000 products have been repaired globally and over 11,000 Coach products have been given a second life through its Coach (Re)Loved program, per the company.
