Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]Burberry signed the Fashion Charter Communique at the 25th session of the Conference of the Parties. The Communique encourages countries with major fashion production and consumer markets to partner with us to bring the industry in line with the Paris Agreement goal of limiting average global temperature rise to 1.5°C.
Burberry has committed through the Fashion Industry Charter for Climate Action to partner with the finance community and policymakers to catalyse scalable solutions for a low-carbon economy throughout the sector. Providing businesses and financial institutions with predictable, transparent and motivating planning contexts for renewable energy investment, for example by ensuring government energy roadmaps are clearly communicated; Responding to the urgent need for rapid scale-up of grid-connected renewable energy sources, and the swift phase-out of the highest-emitting fossil-fuel-based sources of energy, while ensuring a just and sustainable transition; Providing incentives for a swift transition to renewable energy, for example through the provision of feed-in tariffs to manufacturers and suppliers that generate electricity from renewable sources, and which can feed their excess electricity into the public electricity grid; Ensuring credible and legally recognised renewable electricity tariffs and power purchase agreements are available for fashion brands and manufacturers to purchase as part of reducing their greenhouse gas emissions; Creating an enabling environment for the rapid phase-out of non-renewable energy sources for all non-grid or high heat processes, for example through research and incentives for alternative biomass sources; Working with the Fashion Industry to understand and address potential barriers to sector transformation and uptake of energy efficiency and renewable energy technology, with a focus on understanding the key role of tariffs, subsidies or legal barriers at a national or state level.
In FY 2021/22, through the Burberry Regeneration Fund, we also invested in the global Lowering Emissions by Accelerating Forest finance (LEAF) Coalition to support the end of deforestation in tropical and subtropical forest countries. We support the LEAF Coalition's aim of achieving its Nationally Determined Contributions (NDCs) under the Paris Agreement.