11 months ago
22
As part of its company-wide sustainability goals, Tapestry, the parent company of fashion brands Coach, Kate Spade and Stuart Weitzman, has been making big moves to account for the carbon impact of its worldwide operations. Tapestry is among a growing movement of brands and large fashion companies including H&M that are transitioning to renewable energy to meet 2025 and 2030 sustainability goals.
On December 13, renewable energy provider Pivot Energy and Tapestry, Inc. announced that they are collaborating to initiate six community solar projects in Illinois. These projects aim to generate a total of 33 megawatts of solar energy over 15 years. Tapestry has pledged to buy the Impact Renewable Energy Credits, or RECs, from these projects for 15 years. The projects’ expected annual production is over 50,000 megawatt-hours, totaling approximately 750,000 megawatt-hours over the 15 years. The “megawatt” energy is about the speed of energy delivery, while the “megawatt-hour” rating is about the distance or duration of energy delivery.
RECs represent the environmental benefits of renewable energy generation, such as carbon reduction. These credits allow for these benefits to be traded and claimed by entities like Tapestry which aren’t directly producing renewable energy but want to support it or meet specific green energy goals.
Continue reading this article on glossy.co. Sign up for Glossy newsletters to get the latest on the business of beauty, fashion and pop culture.
English (US) ·