Luxury group Capri Holdings sets 2025 carbon neutral goal

New York-listed global fashion luxury group, Capri Holdings, which owns Versace, Jimmy Choo, and Michael Kors,  has made a promise to become 100 percent carbon neutral in its direct operations and to source 100 percent of energy for its owned and operated facilities from renewable sources by 2025.

Building on its net zero carbon emissions commitment, and in an effort to deliver on the goals of the Paris Agreement, the company will also commit to set emissions reduction targets across its operations and supply chain with the Science Based Targets initiative by 2021.

These commitments are outlined in the company's first group-wide corporate social responsibility strategy made up of three parts – embracing the world, the community, and philanthropy.

The report coincides with the 50th anniversary of Earth Day.

All of the goals and objectives of the corporate social responsibility report support the United Nation’s 17 Sustainable Development Goals.
“We are proud of the actions our company is taking to drive positive environmental and social change within our organization and our world,” said John D. Idol, Chairman and Chief Executive Officer of Capri Holdings.

“Early last year, soon after we created our global fashion luxury group, Capri Holdings, we assessed the sustainability efforts each of our brands was already undertaking, along with the core values shared by them. We also considered the responsibilities we collectively hold to the environment, to the communities in which we operate, and to the people with whom we work. We recognize that as our company grows, so do our responsibilities, and welcome the opportunity to do more. We believe that sound environmental and social policies are both ethically correct and fiscally responsible. To that end, we are committed to improving the way we work in order to better the world in which we live.”
Coinciding with the release of the company’s corporate social responsibility goals and objectives, Chairman and Chief Executive Officer of Capri Holdings John D. Idol signed the United Nations Global Compact, the world’s largest corporate sustainability initiative established to support achievement of the Sustainable Development Goals.

By signing the UN Global Compact, Capri Holdings confirms its commitment to align its strategies and operations with universal principles on human rights, labor, the environment and anti-corruption, and its commitment to advance societal goals relating to sustainability.

Capri Holdings has additionally committed to, and has already been working towards, a number of important initiatives.

By 2025, all plastic in packaging will be made recyclable, compostable, recycled or reusable; 100 percent of point-of-sale packaging materials to be recyclable or sustainably sourced; partnering with key suppliers to reduce water use; traceability of the supply chain; sourcing at least 95 percent of leather from certified tanneries; furthering diversity and inclusion within the organization, including through the company’s new Global D&I Council, and finally, supply chain empowerment programs focused on human rights and fair wages to be implemented in line with the UN Framework for Corporate Action on Workplace Women’s Health and Empowerment by 2025
The corporate social responsibility report also highlights the company’s commitment to philanthropy, including the milestone achievement of delivering more than 19 million meals to children in hunger-stricken areas across the globe through the Michael Kors Watch Hunger Stop program.

Capri Holdings Limited is a global fashion luxury group, consisting of iconic brands that are industry leaders in design, style and craftsmanship. Its brands cover the full spectrum of fashion luxury categories including women’s and men’s accessories, footwear and ready-to-wear as well as wearable technology, watches, jewelry, eyewear and a full line of fragrance products.