Burberry Pledges To Become Climate Positive by 2040
The British label is now the first luxury brand to commit to a net-positive environmental impact.
Forget climate neutrality, Burberry has bigger plans. On Thursday, the British fashion house announced that it intends to be climate positive by 2040, becoming the first luxury brand to make the pledge.
To reach the ambitious goal, the brand intends to move beyond carbon-offsetting measures, and implement programs that actually remove additional carbon dioxide from the atmosphere for a net-positive environmental impact. To start, the company will reduce emissions across its supply chain by 46 per cent (up from a previous target of 30 per cent) by 2030—by keeping the house’s science-based targets aligned with the 1.5°C plan made clear in the Paris Agreement. The manufacturer also intends to amplify the use of low-carbon print solutions while investing in nature-based projects that restore the ecosystem.
As part of its 2040 plan, the company has established the Burberry Regeneration Fund, which will be used to invest in programs that remove carbon from the atmosphere and fund climate projects that serve vulnerable frontline communities. Burberry says it will also advocate for change in the fashion industry, through partnerships with NGO’s, peers and policymakers.
Burberry isn’t new to carbon-reducing initiatives, with 10 programs already in play. To its credit, the brand is on target to become carbon neutral by next year, while all of its events and shows have been certified carbon neutral since 2019. Meanwhile, it sources 93 per cent of its electricity from renewable sources.
“As a company, we are united by our passion for being a force for good in the world. By strengthening our commitment to sustainability, we are going further in helping protect our planet for generations to come,” Burberry CEO Marco Gobbetti said in a statement.
The label’s new climate-positive plan could offer something of a roadmap for the rest of the fashion industry. With carbon dioxide in the atmosphere recently hitting a record high, according to The New York Times, one is not only welcome but much needed.
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The Montreal-based company is now valued at about $5.34 billion at current exchange.
June 9, 2021