GlobalData offers a comprehensive analysis of Ralph Lauren, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Ralph Lauren‘s ESG performance. GlobalData’s company profile on Ralph Lauren offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
Ralph Lauren, a global fashion company, has set net-zero targets to reduce its greenhouse gas (GHG) emissions by 2040. The company has mapped out clear sustainability objectives to reach its net zero targets and these involve reducing emissions, transitioning to renewable energy, diverting waste from landfill and incineration, and efficiently managing water resources for both their business and the communities in which they operate. The company's dedication to reducing emissions aligns with the urgency needed to limit global temperature rise to 1.5°C, as outlined in accordance with the goal of the United Nations Framework Convention on Climate Change.
In the year 2023, the company's emission data reveals a total of 1,317,348 metric tons of CO2 equivalent (MTCO2e), comprising 12,206 MTCO2e in Scope 1 emissions, 62,381 MTCO2e in Scope 2 emissions, and a significant 1,242,761 MTCO2e in Scope 3 emissions. The greenhouse gas intensity stands at 204.44 MTCO2e/Million USD. The company has also reduced its GHG emissions by 4,178 metric tons of CO2e through reduction initiatives in scope 2 emissions. For its owned and operated global retail stores, offices, and distribution centers, the emissions intensity ratio is 0.0068 MTCO2e/square foot. In terms of waste management, Ralph Lauren has diverted a significant amount of non-hazardous waste from disposal through recycling, composting, and preparation for reuse.
The company has established clear sustainability objectives to reach its net zero targets. In the shorter term, by 2025, the company is committed to powering all owned and operated offices, distribution centers, and stores with 100% renewable electricity. Looking ahead to 2030, the aim is to achieve a 30% reduction in absolute Scope 1, 2, and 3 GHG emissions compared to the fiscal year 2020. Finally by 2040, the goal is to attain net zero greenhouse gas (GHG) emissions throughout the entire value chain, with the baseline set at the fiscal year 2020.
Ralph Lauren has disclosed its raw materials strategy, assessment, and goals in its Global Citizenship & Sustainability Report. The company aims to source sustainable materials and has set goals for the responsible sourcing of cotton, polyester, wool, viscose, leather, down, feathers, and cashmere. Ralph Lauren is also committed to using sustainably sourced wood substrates for its store interiors. The company has memberships in various industry initiatives and organizations focused on sustainability, such as the Zero Discharge of Hazardous Chemicals (ZDHC) and the Ellen MacArthur Foundation. Ralph Lauren seeks external assurance for its corporate GHG emissions.
Overall, Ralph Lauren has showcased a robust commitment to environmental responsibility, evident in its strategic sustainability initiatives outlined in the Global Citizenship & Sustainability Report. The company's focus on responsible sourcing, material goals, and active engagement in industry initiatives aligns seamlessly with its ambitious net-zero targets.