EmissionsEmissions breakdown not available
Parent company of Michael Kors, Versace, Jimmy Choo
Capri Holdings has taken critical initial steps to set itself on the path to tackling climate change by setting GHG emissions reduction targets for both its own operations and supply chain for the first time. It has also joined the Fashion Pact’s Collective Virtual Power Purchase Agreement (CVVPA) Renewable Energy project. But Capri Holdings has not yet set a target of 100% renewable energy for its supply chain or committed to phase out coal fired boilers from its supply chain by 2030. Capri Holdings has not reported taking effective measures to reduce emissions from transportation and distribution. To lower its impact on the planet and address climate change, Capri Holdings should enhance transparency of suppliers, energy use, GHG emissions, and material sourcing. It is also essential that the company provide financial support for its suppliers to put in place energy efficiency measures and help them transition to renewable energy.
Key Findings for Capri Holdings
Capri Holdings has set an emissions reduction target for its own operations by 50% by FY2030 from a FY2019 base year.
The company has also set an emissions reduction target for its supply chain of 50% over the same timeframe. These targets are still short of the 55% reduction required.
Capri Holdings has set a renewable energy target in its own operations of 100% by 2025, but the energy will be primarily additional to the grid, using a mix of VPPAs and direct power generation, as well as some renewable energy credits.
Capri Holdings has yet to set a target of 100% renewable energy for its supply chain by 2030, which is an essential step for decarbonising its manufacturing.
Coal phase out:
Capri Holdings has not publicly set a target to phase out coal-fired boilers from its supply chain by 2030 to reduce air pollution and cut emissions.
Capri Holdings publicly reports GHG emissions in its own operations and its supply chain, but the company does not publicly provide a full breakdown of its Scope 3 emissions.
Capri Holdings does not publicly report its energy use for its own operations. It only provides a high-level breakdown of its renewable energy use, and it is unclear how that energy is sourced.
For its supply chain, Capri Holdings does not publicly report its energy use, it does not provide a breakdown of its suppliers’ renewable energy use and how that energy is sourced.
Capri Holdings does not provide a supplier list.
Capri Holdings provides its suppliers with training and resources to help them make energy efficiency improvements by engaging with key partners to identify emissions reduction opportunities. The company does not report providing its major suppliers with financial incentives for energy efficiency measures, and does not require them to make energy savings as a condition of contract.
Capri Holdings does not require suppliers to reduce thermal coal demand in their manufacturing processes.
Capri Holdings does not report providing its suppliers with training and resources or financial support to help them transition to renewable energy. The company does not require suppliers to use renewable energy as a condition of contract.
Capri Holdings does require its suppliers to disclose GHG emissions data and is running a pilot program led by brands Jimmy Choo and Versace to help its suppliers set and achieve their own science-based emissions reduction targets, but does not require suppliers to have GHG reduction targets. Capri Holdings requires key suppliers to provide facility level data via the Higg Index.
Capri Holdings has not made any commitments to phase out fossil fuel based materials.
Capri Holdings has not made a public policy to ban the sourcing of leather from the Amazon Biome or taken measurable steps to ensure that Amazon leather is not contributing to deforestation, but the company has processes in place to avoid leather sourced from deforested regions, including working with the Leather Working Group (LWG), Leather Impact Accelerator (LIA) and the Responsible Luxury Initiative (ReLI). However, the company was found to be at high risk of sourcing leather from deforestation in the Amazon Biome according to the Nowhere to Hide report.
Capri Holdings has not committed to increase closed-loop apparel-to-apparel recycling for synthetics and plant-based materials. Although the company has explored regenerative materials, it has not committed to source 100% regenerative or organic materials to reduce the impact of its raw materials sourcing by 2030.
Capri Holdings is beginning to act in a limited capacity to increase circularity by starting a reuse and recycling pilot, but needs to act far more urgently on this issue across all of its brands.
Capri Holdings does not publicly report its material mix, its volume of deadstock or how it manages or disposes of its deadstock to reduce waste.
Capri Holdings does report its shipping emissions as part of its Scope 3 breakdown, though the most recent data is from FY2019. The company does not provide a breakdown of its transportation methods, and does not have a target to reduce GHG emissions from transportation.
Capri Holdings does have a general policy to maximise shipping efficiency and reduce transportation distances, but does not report having a near-term plan to ship its cargo via cleaner vessels or low emission fuels, or import through greener ports. It does not have a specific policy to avoid aviation and commit to slower shipping methods such as maritime, rail and land.
Capri Holdings has not committed to transitioning to zero emissions vessels (ZEV) by 2030. The company has not used its voice publicly to advocate for Zero Emission Shipping.
Capri Holdings has not committed to transitioning its last mile delivery to zero emission vehicles.
Capri Holdings is a Fashion Pact and RE100 member. Capri Holdings has joined the Fashion Pact’s Collective Virtual Power Purchase Agreement (CVPPA), seeking to add renewable energy capacity in Europe. However, the company receives minimal points in this category for a lack of discernible advocacy to promote renewable energy in its supply chain.
More About Capri Holdings
EngagementCapri Holdings provided feedback on the 2023 Scorecard
- “2021 Corporate Social Responsibility Report,” December 15, 2021. http://s22.q4cdn.com/557169922/files/doc_downloads/2021/12/Capri-Holdings-Limited_CSR-2021-Annual-Update-Report_12.15.21.pdf.
- “2022 Corporate Social Responsibility Report,” December 15, 2022. https://www.responsibilityreports.com/HostedData/ResponsibilityReports/PDF/NYSE_CPRI_2022.pdf.
- “Companies Taking Action,”, https://sciencebasedtargets.org/companies-taking-action#table.
- “Corporate Social Responsibility Strategy,” April 22, 2020. http://s22.q4cdn.com/557169922/files/doc_downloads/2020/Capri-Corporate-Social-Responsibility-Report.pdf.
- “Environment,”, http://www.capriholdings.com/RESPONSIBILITY/Environmental/default.aspx.
- “The Fashion Pact Announces New Initiatives on Climate and Beyond,” December 8, 2022. https://www.voguebusiness.com/sustainability/the-fashion-pact-announces-new-initiatives-on-climate-and-beyond.