GlobalData offers a comprehensive analysis of Samsonite International, 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 Samsonite International‘s ESG performance. GlobalData’s company profile on Samsonite International 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.
Samsonite International, a leading luggage and travel bag company, is committed in reducing its carbon emissions and is actively working towards it. The company aims to achieve carbon neutrality for its operations by 2025 and power its operations with 100% renewable electricity. Samsonite has disclosed its greenhouse gas (GHG) emissions, including scope 1, scope 2, and scope 3 emissions. In 2022, the company’s scope 1 was 2,339 metric tons of CO2e across and scope 2 was 16,897 (market based) 18,509 (location based) metric tons of CO2e. In 2022, the GHG emissions for scope 1+2 by facility type indicated that distribution facilities contributed 25%, offices accounted for 8%, and retail spaces represented 41% of the total emissions, resulting in a gross GHG emissions of 19,236 metric tons of CO2e. The company's scope 3 emissions in 2021 were 381,506 metric tons of CO2e across 11 categories. According to the 2022 ESG report, 2022 data for scope 3 is unavailable due to the complexities and time lag in collecting primary data.
To reduce its emissions, Samsonite has taken several steps. It has redesigned its hardside luggage to use post-industrial process waste, reducing the embodied carbon associated with its products. The company is also exploring ways to integrate recycled and renewable materials into its products. Additionally, Samsonite has made investments in on-site solar energy generation for its manufacturing facilities in India and Belgium, as well as purchases of renewable energy for its facilities in Belgium and Hungary.
Samsonite recognizes the risks and opportunities posed by climate change and has engaged with expert consultancies to assess and identify these risks and opportunities. The company is committed to continuously assessing consumer expectations and preferences for products with lower embodied carbon. It aims to become the most sustainable lifestyle bag and travel luggage company by innovating the design of its products to lower their associated embodied carbon.
In terms of emissions reduction targets, Samsonite aims to reduce the carbon intensity of its operations by 15% by 2025 compared to its 2017 baseline. The company is actively working on improving energy efficiency and conservation measures to reduce energy consumption. It also focuses on developing more sustainable and lower-carbon products, which may appeal to eco-conscious consumers.
Overall, Samsonite International is committed to addressing climate change and reducing its carbon emissions. Through investments in renewable energy, product redesign, and engagement with experts, the company is taking significant steps towards becoming a more sustainable company in the luggage and travel bag industry.