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 global luggage and travel accessories company, has set a target to power its operations with 100% renewable electricity and achieve carbon neutrality for its operations by 2025. In total, the company generated 19,236 metric tons (MT) CO2 e in 2022. Its Scope 1 emissions were 2,339 MT CO2 e, comprising emissions from natural gas for heating; gasoline, diesel, and propane for vehicles, equipment, and back-up generation; and refrigerants. Its Scope 2 market-based emissions, from purchased electricity, dominate its direct operations footprint at 16,897 MT CO2 e. When factoring in carbon offsets from its tree plantings in Nashik, India, its total carbon footprint was 17,484 MT CO2 e in 2022. In addition, its Scope 2 location-based emissions in 2022 were 18,509 MT CO2 e. In 2021, the company's scope 3 footprint was 381,506 MT CO2e across 11 emissions categories. Samsonite's latest filings mentioned the keywords 'Emissions' and 'Recycled' most number of times in relation to 'Climate Change'.
Samsonite has made substantial investments in on-site solar energy generation for its manufacturing facilities in India and Belgium, as well as purchases of renewable energy generated offsite for its manufacturing facilities in Belgium and Hungary, as well as some office and retail locations. The company has redesigned its hardside luggage so that around half of the total plastic used in its company-operated manufacturing processes uses post-industrial process waste, known as regrind, which helps to reduce the embodied carbon associated with its products.
Samsonite is exploring multiple ways of integrating increased use of recycled and renewable materials into its products, and further shifts in consumer preferences may guide its future efforts in this area. The company has set a target to reduce the carbon intensity of its operations by 15% by 2025 compared to its 2017 baseline. Samsonite's focus on more sustainable and lower-carbon products may appeal to increasingly eco-conscious consumers. The company has identified transition risks, including increased direct costs of its operations from higher electricity and natural gas prices, increased costs of raw materials sourcing and/or scarcity of raw materials, increased monitoring and compliance costs to respond to new monitoring and reporting requirements, market and reputational risks associated with an increasingly eco-conscious consumer base, and the potential for reduced travel due to concerns about and impacts of climate change. Samsonite's Global Sustainability Council meets regularly to align and build accountability into the organization on its sustainability efforts, including on climate action.
In conclusion, Samsonite aims to accelerate and scale the use of more sustainable materials in its products and packaging to help improve their circularity and lower their carbon footprint. The company plans to continuously improve product sustainability by applying circular economy principles and design innovation while minimizing carbon emissions and waste – with a focus on durability, materials, repair, and end of life.