The selection complements several commitments the Company has made in support of the United Nations Climate Change Conference
NEW YORK--(BUSINESS WIRE)--Nov. 8, 2021--
Ralph Lauren Corporation today applauded the selection of the recently launched U.S. Regenerative Cotton Fund as an Agriculture Innovation Mission for Climate (AIM for Climate) Innovation Sprint Partner, a joint initiative created by the United States and the United Arab Emirates to support investments in climate-smart agriculture over the next five years. The selection was announced during the United Nations Climate Change Conference (COP26) in Glasgow on Nov. 2, 2021.
“We must come together as a global community to address the challenges of today so that future generations inherit a world filled with natural beauty and inspiration. That’s why we are working toward our Net Zero goal, and it’s why the U.S. Regenerative Cotton Fund, created through partnership between the Ralph Lauren Corporate Foundation and the Soil Health Institute, complements our goals. We’re honored that this work is recognized as an AIM for Climate Innovation Sprint Partner,” said Patrice Louvet, President and Chief Executive Officer, Ralph Lauren Corporation.
The Ralph Lauren Corporate Foundation committed an inaugural grant to the Soil Health Institute to launch the U.S. Regenerative Cotton Fund, a first-of-its-kind initiative to support long-term, sustainable cotton production in the United States, with the goal of eliminating one million metric tons of carbon dioxide equivalent (CO2e) from the atmosphere by 2026. The U.S. Regenerative Cotton Fund is supported by a $5 million grant from the Ralph Lauren Corporate Foundation.
Recently, the Company also joined a series of commitments reflective of the scope and mission of COP26 that underscore ongoing efforts made as part of its Global Citizenship & Sustainability goals. They include:
We Mean Business Coalition – G-20 Climate Statement: Aligned with the Company’s recent announcement to achieve net zero global greenhouse gas emissions from its operations and value chain by 2040, the Ralph Lauren Corporation signed a statement in support of urging G-20 nations to strengthen their Nationally Determined Contributions by at least halving global emissions by 2030 and committing to achieve net zero emissions by no later than 2050. Additional details can be found here.
Clean Energy Demand Initiative: To utilize the Company’s scale to create impact, the Ralph Lauren Corporation is actively advocating for cost-effective and robust clean energy procurement options in several key global markets where the Company operates or sources its products. Additional details can be found here.
Textile Exchange – Preferential Tariff Project: As a member of the U.N. Fashion Industry Charter for Climate Action and the Textile Exchange, the Ralph Lauren Corporation signed a policy statement issued to all COP26 participating nations requesting that policymakers work closely with the apparel, textile and footwear industry to develop thoughtful trade policy mechanisms, specifically those that would drive the adoption of environmentally preferred materials and enable achievement of the Textile Exchange’s industry goal of a 45% greenhouse gas emissions reduction by 2030 in the pre-spinning phase of textile fiber and materials production, in line with the Paris Agreement. Additional details can be found here.
Each of these commitments is inspired by Ralph Lauren’s grounding purpose, to inspire the dream of a better life through authenticity and timeless style, which has guided its design vision and how it operates its business for more than 50 years. Additionally, these efforts all build on the Company’s work to pioneer, foster and scale sustainable innovation through partnerships and investments, including its work with Natural Fiber Welding Inc. and Color on Demand, and aligns with its commitment to the climate goals identified in the Paris Agreement.
ABOUT RALPH LAUREN
Ralph Lauren Corporation (NYSE:RL) is a global leader in the design, marketing and distribution of premium lifestyle products in five categories: apparel, footwear & accessories, home, fragrances and hospitality. For more than 50 years, Ralph Lauren has sought to inspire the dream of a better life through authenticity and timeless style. Its reputation and distinctive image have been developed across a wide range of products, brands, distribution channels and international markets. The Company’s brand names—which include Ralph Lauren, Ralph Lauren Collection, Ralph Lauren Purple Label, Polo Ralph Lauren, Double RL, Lauren Ralph Lauren, Polo Ralph Lauren Children and Chaps, among others—constitute one of the world’s most widely recognized families of consumer brands. For more information, go to https://corporate.ralphlauren.com.
ABOUT DESIGN THE CHANGE
Design the Change, Ralph Lauren Corporation’s strategy, is both a commitment and a journey to create a positive impact in society. It is based on our belief that, together with our industry, we can deliver the change required for a more sustainable and equitable future for all. Design the Change is anchored in commitments that will drive progress across our three focus areas: Creating Timeless Style, Protecting the Environment and Championing Better Lives, and it is underpinned by ambitious goals that guide the Company’s work across citizenship and sustainability. Ralph Lauren is a signatory to the We Are Still In declaration and the U.N. Fashion Industry Charter for Climate Action, pledging to limit our emissions in line with the Paris Agreement goals. The Company is also a member of the G7 Fashion Pact, a group of fashion leaders working to stop global warming, restore biodiversity and protect the oceans. For more information, visit our Company website.
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Laurent L. Lawrence, Laurent.Lawrence@RalphLauren.com (914.262.3952)
Source: Ralph Lauren Corporation