PVH Corp. Sets Renewable Electricity Targets with RE100 Commitment
– Company aims for 100 percent renewable electricity by 2030 and will set science-based target on carbon emissions –
NEW YORK: PVH Corp. [NYSE:PVH], one of the world’s largest apparel companies and owner of a family of iconic brands including CALVIN KLEIN, TOMMY HILFIGER, Van Heusen, Speedo, Warner’s and IZOD, today joined RE100, a global corporate leadership initiative moving businesses toward 100 percent renewable electricity.
PVH has set an ambitious target to source 100 percent renewable electricity throughout owned-and-operated offices, distribution centers and stores globally by 2030, with an interim goal of 50 percent renewable electricity by 2025.
RE100 is led by The Climate Group in partnership with CDP.
The company also announced that it has committed to the Science Based Targets initiative (SBTi), a partnership between CDP, United Nations Global Compact, World Resources Institute and WWF, which helps companies set greenhouse gas reduction targets to limit global warming to below 2 degrees Celsius.
“Climate change is one of the greatest challenges facing the world today. As a leader in the apparel industry, we believe that we have a responsibility to limit our environmental impact, support cleaner energy alternatives, and mitigate the negative impacts of greenhouse gas emissions,” said Chairman and CEO Emanuel Chirico. “Joining RE100 and the Science Based Targets Initiative are important – and meaningful – steps in our ongoing sustainability journey, leading us toward a circular, low-carbon economy.”
Corporate responsibility is a key pillar of PVH and is central to how the company conducts business. There is an organization-wide emphasis on making positive impacts on people, the environment and communities, and being transparent in its efforts.
“By joining RE100 and transitioning to 100% renewable electricity, PVH is taking a lead on sustainable clothing. With some of the best-known names in fashion – such as Calvin Klein, Tommy Hilfiger and Speedo – all covered by this commitment, there is no doubt that going ‘all in’ on renewable electricity is the future of the apparel industry, bolstering brand reputation and delivering the sustainable approach that consumers increasingly want to see.” said Mike Peirce, Corporate Partnerships Director, The Climate Group.
Led by The Climate Group in partnership with CDP, RE100 is a collaborative initiative bringing together the world’s most influential businesses committed to 100 percent renewable power. Together, they send a powerful signal to policymakers and investors to accelerate the transition to a low carbon economy.
About PVH Corp.
With a history going back over 135 years, PVH has excelled at growing brands and businesses with rich American heritages, becoming one of the largest apparel companies in the world. We have over 36,000 associates operating in over 40 countries and nearly $9 billion in annual revenues. We own 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, and market a variety of goods under these and other nationally and internationally known owned and licensed brands.
*The Speedo brand is licensed for North America and the Caribbean in perpetuity from Speedo International Limited.