Greenhouse gas (GHG) emissions are one of the major causes of rising global warming, and the companies from the FMCG, retail, packaging, and food service sectors account for a significant amount of the global emissions. CO2, Methane & NOx gases form a major part of greenhouse gases released from fossil fuels such as gas and oil. Due to rising GHG emissions from companies, it became important among major contributing sectors to report gas emissions during their operations.
Companies from the consumer sector are under increasing pressure to reduce their carbon footprint. Consumers are becoming more aware of excess carbon dioxide emissions' detrimental environmental effects. Their consumption behavior changes due to this, and they take an active interest in sustainability issues.
Ralph Lauren Corp (Ralph Lauren) designs, distributes, and markets premium lifestyle products, including apparel, accessories, footwear, home furnishings, and fragrances. The company’s product portfolio includes men-women and kids’ apparel, leather goods, handbags, footwear, bedding items, furniture, skincare products, and cosmetics. It offers these products under various brand names including Chaps, Club Monaco, Lauren, Pink Pony, Polo, Purple Label, Ralph Lauren, and Ralph, among others.
The total GHG emissions of Ralph Lauren in the financial year (FY) ending 2022 were 1,273 thousand tonnes of CO2 equivalents, an increase of 2.9% from FY2021.
GHG emissions are generally classified into Scope 1, 2, and 3 emissions. Scope 1 includes direct GHG emissions from sources that are owned or controlled by the company such as emissions associated with heating and cooling. Scope 2 encompasses indirect GHG emissions associated with purchased electricity. Scope 3 involves indirect GHG emissions in the company’s upstream and downstream activities, such as the purchase of goods and services, use of sold products, upstream transport and distribution, and business travel.
In FY2022, Scope 3 emissions form the major portion of Ralph Lauren’s total GHG emissions, accounting for around 1,192 thousand tonnes of CO2 equivalent (94% of the total GHG emissions). In FY2022, the company's Scope 2 emissions (69 thousand tonnes of CO2 equivalent) decreased by 11.5%, and Scope 1 emissions (12 thousand tonnes of CO2 equivalent) decreased by 21% annually.
Ralph Lauren aims to reduce absolute Scope 1, 2, and 3 GHG emissions by 30% by 2030 (SBTi-approved) from a 2020 base year and achieve net zero emissions by 2040. It also commits to power its owned and operated offices, distribution centers, and stores with 100% renewable electricity by 2025.
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