Tapestry, the umbrella company for renowned fashion brands Coach, Stuart Weitzman, and Kate Spade, continues to lead the charge in sustainable practices with its latest venture—an innovative energy partnership in the United States.
Building on its commitment to environmental responsibility as part of The Fashion Pact, Tapestry has collaborated with Pivot Energy, a leading renewable solar power provider, to procure 15 years of Impact Renewable Energy Credits (RECs) from six community solar projects in Illinois. This visionary collaboration aims to generate over 50,000 megawatt hours annually for the next 15 years, totaling an impressive 750,000 megawatts.
Tapestry and Pivot's Innovative Impact RECs Strategy
Distinguishing itself from conventional RECs, Impact RECs focus on channeling clean energy resources into strategically targeted areas, thereby fostering local development and mitigating the energy burden. Unlike typical REC purchases from established wind farms, Tapestry and Pivot's agreement delivers a threefold impact—new clean energy, community investments, and relief from energy burdens spanning two decades.
The Tapestry-Pivot partnership aligns with a growing trend among U.S. fashion companies forging energy partnerships to advance sustainable practices. Notable examples include Lululemon's collaboration with Enel Green Power’s Azure Sky wind project in Texas and The Fashion Pact's alliance with Lightsource bp, featuring prominent brands like Prada, Zegna, Kering, Ferragamo, Ralph Lauren, PVH Group, and others.
Pivot and Tapestry's community projects are projected to yield an average of 51,760 megawatt hours of clean electricity annually—equivalent to the power required for approximately 6,000 average households in Illinois. These solar projects, made possible through Tapestry's Impact REC agreement, will be strategically implemented in regions heavily reliant on fossil fuels, amplifying the positive impact of pollution reduction.
Tapestry's Pledge to 100% Renewable Energy
Emphasizing its commitment to sustainability, Tapestry aims to source 100 percent renewable electricity for its stores, offices, and fulfillment centers worldwide by 2025, as stated by Logan Duran, Tapestry’s Vice President for ESG and Sustainability. Duran underscores the transformative potential of partnerships in effecting meaningful change in environmental and social domains, expressing enthusiasm about collaborating with Pivot Energy on these groundbreaking projects in Illinois.
Scheduled to be operational in early 2025, Tapestry's initiatives in Illinois mark a significant stride toward solar power adoption in these communities. According to Josh Levy, Director of Offsite Solutions for Pivot Energy, Tapestry serves as a paradigm for the fashion industry and its consumers, showcasing a commitment to environmentally friendly solutions. Levy highlights the collaboration as a prime example of how companies can drive renewable energy solutions for sustainability while creating opportunities for future renewable energy production.