Lifestyle • 4h ago
How Tapestry Makes the Business Case for Sustainability
**Tapestry: Leading the Way in Sustainability for Nigerian Businesses**
In a bold move, the parent company of luxury fashion brands Coach and Kate Spade, Tapestry, has partnered with a Swiss carbon removal startup, Climeworks, for a decade. This partnership is not just a gesture; it's a long-term commitment to sustainability, an aspect of business that has become increasingly important in Nigeria as well.
As the world grapples with climate change, US businesses are facing intense pressure to take action. However, the current administration's stance on climate action has created a challenging environment for companies that want to prioritize sustainability. In this context, Tapestry's partnership with Climeworks is a beacon of hope.
According to Logan Duran, Tapestry's global head of ESG and sustainability, the partnership was an opportunity to demonstrate the company's commitment to sustainability and send a signal to the market that innovation in this area is needed. Duran believes that credible, long-term solutions are essential to addressing the emissions that companies like Tapestry cannot eliminate on their own.
While this partnership is a step in the right direction, it's not a silver bullet. Fashion companies like Tapestry face significant challenges in reducing their carbon footprint, particularly when it comes to Scope 3 emissions, which account for the majority of their emissions. Additionally, carbon removal is a relatively new and contentious approach to offsetting carbon emissions.
Despite these challenges, Tapestry's commitment to sustainability is inspiring. The company has taken a multi-faceted approach to quantifying climate risks and presenting the costs of inaction. This approach is crucial for Nigerian businesses, which are facing similar challenges in the face of climate change. By prioritizing sustainability, Tapestry is positioning itself for long-term business resilience, a strategy that Nigerian businesses can learn from.
Tapestry's partnership with the World Wildlife Fund is another example of the company's commitment to sustainability. This multi-year partnership demonstrates Tapestry's dedication to protecting the environment and promoting sustainable practices.
As Nigeria continues to grow and develop, businesses are faced with the challenge of balancing economic growth with environmental sustainability. Tapestry's approach to sustainability offers valuable lessons for Nigerian businesses, highlighting the importance of long-term planning, innovation, and commitment to environmental protection. By following Tapestry's lead, Nigerian businesses can not only reduce their environmental impact but also position themselves for long-term success.