Tapestry, Inc., the parent company of Coach and kate spade new york, has invested in the most diversified carbon dioxide removal (CDR) portfolio put together by climate tech trailblazer Climeworks to date.
The two companies have signed a 10-year agreement through which Tapestry will purchase CDR from a portfolio that combines five high-quality carbon removal pathways.
This agreement marks Tapestry’s first CDR purchase, and it aligns with the company’s broader decarbonization goals and ambition of integrating climate-responsible practices into its business.
Tapestry will use the removals to address its Scope 1 emissions, opting in for a CDR portfolio approach that enables risk diversification and long-term climate impact.
“At Tapestry, we are focused on reducing emissions across our value chain while investing in solutions that help build a resilient, low-carbon future,” said Logan Duran, Global Head of ESG & Sustainability.
“Working with Climeworks allows us to address our Scope 1 emissions through high-quality carbon removal, while supporting innovation and market development in this emerging climate solution space.”
For Climeworks, Tapestry is the first North American customer in the retail and consumer goods industry, signaling a growing interest in removals and decarbonization within this sector.
To match Tapestry’s needs, the Climeworks scientific team has put together a portfolio that combines different CDR approaches, including solutions that accelerate natural mineral processes and technologies that directly tackle atmospheric carbon dioxide, generating renewable energy and offering permanent CO2 storage.
The selected solutions represent some of the most innovative and scientifically robust carbon removal approaches on the market, delivering decarbonization results together with significant social and environmental co-benefits.
Relevant: Climeworks Launches The World’s Largest DAC Innovation Center, Pursuing Cost Reductions
“We’re thrilled to partner with Tapestry, which is leading the way in consumer goods and retail,” said Adrian Siegrist, Chief Commercial Officer of Climeworks.
“Customers are increasingly seeking diversified portfolios of high-quality carbon removal solutions to manage risk and secure timely delivery today, and Climeworks is uniquely positioned to answer that need,” Siegrist added.
“This collaboration not only underscores the retail sector’s growing commitment to climate action but also shows Climeworks’ leadership in carbon removal portfolio services.”
Read more: Climeworks Embarks On A Muli-Year Agreement With Biochar Company Truecoco
