Ralph Lauren Corporation has announced that it will evolve its approach to climate as part of its ongoing commitment to decarbonisation. It will retire its 2040 net zero goal in favour of setting rolling five-year GHG reduction milestones, with a near-term focus on its current SBTi-validated 2030 goal to reduce emissions by 30% from its FY20 baseline.

This approach is intended to deliver impactful results and drive accountability as Ralph Lauren works together with industry, government and other partners to advance infrastructure and innovation that will support decarbonisation at scale. The company will continue to follow a science-based methodology aligned with the Paris Agreement.

It will also continue to support programmes like the Future Supplier Initiative (a collective financing mechanism facilitated by The Fashion Pact in partnership with Apparel Impact Institute (Aii), Guidehouse and DBS Bank) to decrease the cost of capital to fund supplier decarbonisation efforts.

“Ralph Lauren is setting progressive goals that keep the company focused on science-based decarbonisation methods while also accounting for the maturity of the wider ecosystem and regulatory environment,” said Lewis Perkins, President and CEO, Apparel Impact Institute. “Their investments in Aii are exactly the kind of measurable, on-the-ground efforts that drive meaningful decarbonisation outcomes.”