Tag: Burberry

Burberry receives SBTi approval for net-zero emissions target

Stuart Mitchell

Burberry is the first luxury fashion brand and one of the first companies globally to receive approval from the Science Based Targets initiative (SBTi) for its net-zero emissions target.   This validation confirms that the goals Burberry has set to reach net-zero emissions by 2040 are based on the latest climate science and meet the urgent need to keep warming to 1.5°C in line with the Paris Agreement. Burberry’s net-zero target is underpinned by a series of commitments across scope 1, 2 and 3 emissions. In the near term, we…

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Burberry signs £300m sustainability linked loan

Stuart Mitchell

Burberry has refinanced its Revolving Credit Facility (RCF) to a £300m Sustainability Linked Loan, coordinated by Lloyds Bank. The facility is linked to the achievement of key ESG targets as part of the company’s ambition to become Climate Positive by 2040. This includes accelerating emissions reductions across its extended supply chain (Scope 3) by 46% by 2030 and becoming net zero by 2040, 10 years ahead of the 1.5°C pathway set out in the Paris Agreement. The loan builds on Burberry’s efforts to embed ESG across its operations, including its…

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Burberry builds on Climate Positive commitment with biodiversity strategy to protect, restore and regenerate nature

Stuart Mitchell

Burberry has announced its biodiversity strategy to support global conservation efforts. Through this plan, Burberry will take action to protect, restore and regenerate nature, helping to slow further global warming as part of the transition towards the 1.5°C pathway set out in the Paris Agreement. Building on Burberry’s recent commitment to become Climate Positive by 2040, the luxury Company’s biodiversity strategy will expand the scope of its current initiatives, applying a nature-based approach in its own value chain and in areas of greatest need beyond its operations. The biodiversity strategy…

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Burberry to be Climate Positive by 2040

Stuart Mitchell

Burberry has announced its pledge to become Climate Positive by 2040, setting a new industry standard that goes further than the company’s current 2040 net-zero target. To achieve this, Burberry will take action within its own value chain, guided by climate science. This includes:  Accelerating its ambition to reduce emissions across its extended supply chain, aiming to reduce them by 46% (from a previous target of 30%) by 2030. This means Burberry’s Science Based Targets will be aligned to the 1.5°C pathway set out in the Paris Agreement Becoming Net-Zero…

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Burberry supports IBM interns to develop prototype system for product traceability

Stuart Mitchell

Sustainability is a growing priority for the fashion industry and retailers are doing more to promote ethical supplier practices and responsible consumption. Consumers, policy makers, and NGOs alike are concerned about the environmental and social impacts of retailers and their products. Financial institutions are also demanding more accountability from the companies they invest in.   The theme for this year’s Extreme Blue internship programme was “Sustainability in Fashion”. Partaking students were tasked with designing, developing, and testing an innovative new product for an IBM client. Burberry partnered with the programme…

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