Climate Change Data

Tapestry, Inc.

Climate Impact & Sustainability Data (2018-07 to 2019-06, 2020-07 to 2021-06, 2023)

Reporting Period: 2018-07 to 2019-06

Environmental Metrics

Total Carbon Emissions:57,995 metric tonnes of CO2e
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:10,706,873 gallons
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Inclusion and Diversity
  • Environmental Sustainability
  • Community Engagement

Environmental Achievements

  • Reduced Scope 1 and 2 emissions by 0.4%, Scope 3 emissions by 3.6% (total 2.4% reduction from 2018 levels)
  • Increased Renewable Energy Certificate purchases from 1,335 MWh in 2018 to 3,433 MWh in 2019
  • kate spade new york diverted 27 million plastic bottles from landfills using recycled polyester

Social Achievements

  • Achieved a score of 100 on the Human Rights Campaign Corporate Equality Index for the sixth consecutive year
  • Listed on the Forbes 2019 “Best Employers for Diversity” list for the third consecutive year
  • Coach Foundation committed $2 million to support small businesses in NYC impacted by COVID-19 (this achievement is mentioned in the CEO letter and pertains to a period after the reporting year)
  • Tapestry’s endowed Coach and kate spade new york Foundations granted more than $5 million to nonprofits in 2019
  • Over 5,750 employee volunteer hours

Governance Achievements

  • Established 2025 goals for expanding diversity in North America leadership teams and reducing inclusion gaps by gender and ethnicity
  • Established an Inclusion Council with co-leaders for Diversity and Inclusion

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • 20% reduction in absolute Scope 1 and Scope 2 CO2e emissions and 20% reduction in absolute Scope 3 CO2e emissions from freight shipping by 2025 (over a 2017 baseline)
  • 95% traceability and mapping of raw materials by 2025
  • 90% of leather sourced from Silver- and Gold-rated Leather Working Group tanneries by 2025
  • 75% recycled content in packaging by 2025
  • 25% reduction in North America corporate and distribution center waste by 2025
  • 10% reduction in water usage across Tapestry and the supply chain by 2025
Short-term Goals:
  • Not disclosed

Environmental Challenges

  • Reducing Scope 1, 2, and 3 emissions across the global supply chain
  • Improving water management across retail locations (increase in water consumption in retail locations)
Mitigation Strategies
  • Implementing energy-efficient retrofits in stores and distribution centers (LED lighting, HVAC improvements)
  • Increasing renewable energy purchases
  • Optimizing freight shipping to reduce emissions
  • Collecting data from owned and operated locations to improve water management strategy

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Supplier Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Not disclosed
Opportunities
  • Not disclosed

Reporting Standards

Frameworks Used: GRI Standards (In Accordance, Core)

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Recycled polyester in kate spade new york handbags

Awards & Recognition

  • Forbes 2019 “Best Employers for Diversity”, Human Rights Campaign Corporate Equality Index (100 score)

Reporting Period: 2020-07 to 2021-06

Environmental Metrics

Scope 1 Emissions:3523 tCO2e/year
Scope 2 Emissions:37245 tCO2e/year
Renewable Energy Share:9%
Total Energy Consumption:114500.68 MWh/year
Waste Generated:4079 tons/year
Carbon Intensity:0.0000070946 metric tons CO2e per unit currency total revenue

ESG Focus Areas

  • Climate Change
  • Biodiversity
  • Supply Chain Sustainability

Environmental Achievements

  • Increased renewable energy use to 9% globally in FY21
  • Reduced total municipal waste consumption by 2.8% from the previous year
  • Recycled or diverted 86% of waste from landfills

Social Achievements

  • Launched Coach (Re)Loved program, reducing waste and attracting new customers
  • Partnered with Savory Institute to develop regenerative agriculture sourcing
  • 10% of leadership’s annual incentive compensation tied to equity, inclusion and diversity goals (EI&D) beginning in FY2022

Governance Achievements

  • Board-level oversight of climate-related issues
  • Quarterly updates on ESG strategy to the Governance and Nominations Committee
  • Annual updates on sustainability and ESG topics to the full Board of Directors

Climate Goals & Targets

Long-term Goals:
  • Net zero emissions by 2050
Medium-term Goals:
  • Reduce GHGs by 42.5% from a 2021 base year by 2030
Short-term Goals:
  • Reduce water consumption by 10% by 2025
  • Increase use of recycled and renewable raw materials, with a focus on leather
  • Achieve 100% renewable energy in owned operations by 2025

Environmental Challenges

  • Supply chain disruptions due to extreme weather events (flooding)
  • Increased electricity costs due to transition to lower-emission energy sources
  • Potential impact of emerging carbon pricing mechanisms
Mitigation Strategies
  • Developed disaster management plans to accommodate short and long-term risks associated with changes in flooding
  • Transitioning to 100% renewable energy in owned and operated locations by 2025
  • Developing an internal carbon abatement strategy aligned with the Science Based Targets initiative (SBTi)

Supply Chain Management

Supplier Audits: 85% of suppliers completed Higg FEM

Responsible Procurement
  • Supplier Code of Conduct
  • Higg FEM
  • Increasing use of recycled and renewable materials

Climate-Related Risks & Opportunities

Physical Risks
  • Flooding of key ports
  • Extreme weather events
Transition Risks
  • Emerging carbon pricing mechanisms
  • Increased electricity costs
Opportunities
  • Transition to renewable energy
  • Development of low-emission products and services

Reporting Standards

Frameworks Used: TCFD, GRI, SASB

Third-party Assurance: GHG Protocol PEVER0732

UN Sustainable Development Goals

  • Goal 7 (Affordable and Clean Energy)
  • Goal 12 (Responsible Consumption and Production)
  • Goal 13 (Climate Action)

Initiatives contribute to these goals through renewable energy adoption, waste reduction, and emissions reduction targets

Sustainable Products & Innovation

  • Coach (Re)Loved program
  • Products using recycled polyester, recycled nylon, and organic cotton

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:710,417 tCO2e/year
Scope 1 Emissions:5,559 tCO2e/year
Scope 2 Emissions:11,779 tCO2e/year
Scope 3 Emissions:693,079 tCO2e/year
Renewable Energy Share:80%
Total Energy Consumption:Not disclosed
Water Consumption:3,859,524 m3/year
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Climate Change
  • Biodiversity
  • Water
  • Waste Management
  • Supply Chain Traceability
  • Equity, Inclusion, and Diversity (EI&D)
  • Responsible Materials
  • Circular Economy
  • Human Rights
  • Community Engagement

Environmental Achievements

  • Reduced absolute Scope 1 and 2 GHG emissions by 57% compared to the FY2021 baseline.
  • Reduced absolute Scope 3 FLAG GHG emissions by 24% compared to the FY2021 baseline.
  • Achieved 80% renewable energy procurement in Tapestry-operated stores, offices, and fulfillment centers.
  • Reduced water usage in Tapestry-owned retail stores, corporate offices, and fulfillment centers in North America by 10% compared to the FY2018 baseline.
  • Reduced water usage by 25% across the supply chain compared to the 2020 baseline (from suppliers audited by the LWG).
  • Diverted 83% of waste from landfills at North America corporate locations (an increase from 73% in FY2022).

Social Achievements

  • 82,500+ volunteer hours completed by employees in FY2023 (a 59% increase over the previous year).
  • Launched the Tapestry Associate Relief Fund to provide financial assistance to employees facing hardships.
  • Donated over $140,000 to support 16 global organizations through the Employee Business Resource Group Community Grant Program.
  • Achieved the goal of donating $75 million in product and financial contributions globally by FY2025 (ahead of schedule).
  • 53,000+ workers reached with empowerment programs through RISE (previously BSR HERproject).

Governance Achievements

  • Established the Tapestry Gives Impact Awards to recognize employee volunteer contributions.
  • Tied 10% of leadership team’s annual incentive compensation to specific benchmarks in EI&D.
  • Over 1,600 employees received additional standalone anti-corruption training in FY2023.

Climate Goals & Targets

Long-term Goals:
  • Reach net-zero GHG emissions across the value chain by 2050.
  • 10% of leather from regenerative agriculture, recycled inputs, or next-generation materials by 2030.
  • 500,000 volunteer service hours by FY2030.
Medium-term Goals:
  • Reduce absolute Scope 1 and 2 GHG emissions by 64% by FY2030 from a FY2021 baseline.
  • Reduce absolute Scope 3 Industry GHG emissions by 42% by FY2030 from a FY2021 baseline.
  • Reduce absolute Scope 3 FLAG GHG emissions by 30% by FY2030 from a FY2021 baseline.
  • 95% of polyester from recycled sources by 2027.
Short-term Goals:
  • Procure 100% renewable energy in Tapestry-operated stores, offices, and fulfillment centers by 2025.
  • Reduce water usage within own operations by 10% below FY2018 levels by 2025.
  • Reduce water usage within supply chain by 10% below 2020 levels by 2025.
  • 95% traceability and mapping of raw materials by 2025.
  • 90% of leather from Silver- and Gold-rated LWG tanneries by 2025.
  • 95% of polyamide (nylon) from recycled sources by 2025.
  • 90% of cotton to be organic- or regenerative-certified by 2025.
  • 75% recycled content in consumer packaging by 2025.

Environmental Challenges

  • Climate change impacts on the business and supply chain.
  • Water scarcity and water risk in supply chain.
  • Deforestation and biodiversity loss in raw material sourcing.
  • Waste management in operations and supply chain.
Mitigation Strategies
  • Developed decarbonization roadmaps with high-emitting suppliers.
  • Implemented a coal phase-out program for suppliers.
  • Engaged with suppliers to improve water-saving processes and reduce water usage.
  • Partnered with WWF to restore ecosystems and support sustainable leather supply chains.
  • Implemented initiatives to reduce waste sent to landfills and increase landfill diversion.

Supply Chain Management

Supplier Audits: Approximately 185 audits in FY2023 (80% Tier 1, 20% beyond Tier 1)

Responsible Procurement
  • Tapestry Supplier Code of Conduct (SCOC); social compliance audits; corrective action plans; biennial training; Higg FEM assessments; LWG audits; Environmental Sustainability Framework.

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Not disclosed
Opportunities
  • Not disclosed

Reporting Standards

Frameworks Used: GRI, SASB, TCFD, UNGC

Certifications: Null

Third-party Assurance: SGS (limited assurance for Scope 1, 2, and 3 (non-FLAG) GHG emissions)

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Coachtopia products; products using recycled materials; repurposed leather and denim.

Awards & Recognition

  • HR Asia Best Companies to Work for in Asia 2023
  • Fortune’s 2023 Most Powerful Women (Joanne Crevoiserat)
  • Savoy’s 50 Most Influential Black Executives (David Casey)