VF Corporation Cuts Global Emissions by 12 Percent During 5-Year Period; Exceeds Carbon Reduction Goal
GREENSBORO, N.C., Nov. 15 /CSRwire/ - VF Corporation (NYSE: VFC) today announced a reduction in global carbon emissions by 12 percent from 2011 to 2015, exceeding the 5 percent goal originally set for that 5-year period.
VF’s achievement prevented more than 38,000 tons of carbon from entering the atmosphere, the equivalent of the electricity needed to power 5,710 homes for one year.
VF achieved the 12 percent carbon reduction during a period when the company added roughly 500 sites to its global operations – a 40 percent increase driven primarily by retail store expansion.
“Surpassing our carbon reduction goal by such a large margin is further proof that VF is serious about sustainability and addressing the issue of climate change,” said Eric Wiseman, VF’s Chairman and CEO. “I’m extremely proud of the many individuals across VF whose actions – big and small – contributed to these exceptional results.”
VF’s carbon reduction efforts focus on four areas of its global business operations that use the most energy:
- Manufacturing – 24 owned and operated production facilities;
- Distribution – 35 distribution centers;
- Retail – more than 1,460 retail stores operated by VF and its brands; and,
- Offices & Facilities – approximately 250 used by VF and its brands.
VF’s offices and facilities, and distribution centers achieved the highest percentages in carbon reduction during the period with a 30 percent and 25 percent drop, respectively.
Of the 12 percent total carbon reduction achieved by VF, half resulted from increased use of clean energy, renewable energy credits and carbon offsets. The other half came from employee behavior changes regarding energy use, energy efficiency projects such as LED lighting in retail stores and technology upgrades in distribution centers, and the construction of energy efficient facilities, some of which achieved LEED certification.
VF has taken steps to be an industry leader in sustainability with its global carbon reduction efforts. The company recently received a “B” letter grade (on an A to F scale) in the 2016 assessment of environmental performance and disclosure reporting by CDP, a global disclosure system for companies, cities, states and regions to manage their environmental impacts and for investors or purchasers to access environmental information for use in financial decisions.
VF is now working toward its goal of using 100 percent renewable energy to power all owned and operated facilities globally by 2025. VF made the commitment in December 2015 when it joined the American Business Act on Climate Pledge.
Learn more about VF’s Sustainability & Responsibility program at http://www.vfc.com/powerful-platforms/sustainability.
VF Corporation (NYSE: VFC) is a global leader in the design, manufacture, marketing and distribution of branded lifestyle apparel, footwear and accessories. The company’s diversified portfolio of powerful brands spans numerous geographies, product categories, consumer demographics and sales channels, giving VF a unique industry position and the ability to create sustainable, long-term growth for our customers and shareholders. The company’s largest brands are The North Face®, Vans®, Timberland®, Wrangler®, Lee® and Nautica®. For more information, visit www.vfc.com.
For more information, please contact:
Craig Hodges Senior Director, Corporate Communications