NEW YORK--(BUSINESS WIRE)--PVH Corp. [NYSE:PVH], one of the world’s largest apparel companies and owner of iconic brands, including CALVIN KLEIN, TOMMY HILFIGER, Van Heusen, Speedo*, and IZOD, announced today that it received approval of its absolute greenhouse gas (GHG) emission reduction targets by the Science Based Target initiative, furthering its commitment to a zero-carbon economy. PVH’s targets are in line with the most ambitious level of decarbonization, 1.5 degrees Celsius, set out by the Paris Agreement, a United Nations-led agreement among nations to limit the earth’s rising temperature to fight climate change.
PVH established GHG emission reduction targets as part of the Forward Fashion Corporate Responsibility strategy launched earlier this year. The strategy set out the ambition for business operations to generate zero waste, zero carbon emissions and zero hazardous chemicals, and to produce circular products among other social and environmental commitments.
The GHG targets approved by SBTi are:
- All PVH offices, warehouses and stores will be powered by 100% renewable electricity by 2030, which will reduce emissions for the company’s Scope 1 and 2 GHG footprints by 71%
- PVH will drive a 30% reduction in its global supply chain (Scope 3) emissions by 2030
“This validation of our Science Based Targets reflects the science- and data-based underpinnings of PVH’s Forward Fashion strategy and our goal of driving fashion forward – for good. A critical aspect of our ambitions is helping combat climate change, and we are focused on cutting greenhouse gas emissions and driving renewable energy procurement in ways that will generate tangible and scalable change. We are working towards these goals as an individual organization, as well as with our peers and partners,” said PVH Chairman & CEO Emanuel Chirico.
To continue reaching these targets, PVH pursues energy efficiencies and renewable energy deployment in line with its commitment to RE100, a global corporate leadership initiative moving businesses toward 100 percent renewable electricity. Steps being taken to achieve Scope 3 targets include:
- Engaging with the most energy intensive facilities in its supply chain to set targets and reduce GHG footprints, particularly through the Higg Facility Environmental Module
- Developing products with lower environmental impacts in line with the company’s Forward Fashion commitments to Regenerate Materials and Innovate for Circularity
- Promoting energy efficiency through mill improvement programs, deployed by the Apparel Impact Institute
- Collaborating with suppliers to drive renewable energy transitions
- Supporting the efforts of the United Nations Fashion Industry Charter for Climate Action, including those focused on policy, finance and logistics
PVH is committed to incorporating environmentally responsible practices into all of its business activities and playing a leadership role in the global fight against climate change.
About PVH Corp.
PVH is one of the most admired fashion and lifestyle companies in the world. We power brands that drive fashion forward – for good. Our brand portfolio includes the iconic CALVIN KLEIN, TOMMY HILFIGER, Van Heusen, IZOD, ARROW, Speedo*, Warner’s, Olga and Geoffrey Beene brands, as well as the digital-centric True&Co. intimates brand. We market a variety of goods under these and other nationally and internationally known owned and licensed brands. PVH has over 38,000 associates operating in over 40 countries and $9.7 billion in annual revenues. That's the Power of Us. That’s the Power of PVH.
*The Speedo brand is licensed for North America and the Caribbean in perpetuity from Speedo International Limited.