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Luggage and travel gear company Samsonite announced today a new series of sustainability goals, including […]]
Samsonite to Ramp Recycled Materials Use to Tackle Scope 3 Emissions – ESG Today
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Samsonite to Ramp Recycled Materials Use to Tackle Scope 3 Emissions
Mark Segal
November 4, 2024
Luggage and travel gear company Samsonite announced today a new series of sustainability goals, including a new target to reduce Scope 3 emissions from purchased goods and services 52% by 2030 by significantly increasing the use of recycled materials in its products.
According to Samsonite’s most recent sustainability report, nearly all of the company’s greenhouse gas footprint is made up of Scope 3, or value chain, emissions, with purchased goods and services, including raw materials used for internal manufacturing, accounting for nearly 80%. The company said that it will focus on reducing material-related emissions by significantly increasing recycled content of the various types of materials in its products, such as plastics and aluminum.
The new Scope 3 goal is measured from a 2022 base, on an intensity basis per unit gross profit, and applies to all of the Samsonite’s brands worldwide. The company’s brands include Samsonite, American Tourister, Tumi, High Sierra, Gregory, Lipault, and Hartmann.
Samsonite added that it has submitted the new target to the Science Based Targets initiative (SBTi) for validation.
Marina Dirks, Vice President, Global Head of Sustainability at Samsonite, said:
“Since introducing our first product featuring recycled materials in 2018, we have continuously expanded their use into additional product components and collections. To achieve the emissions reductions, we look to further scale the use of recycled content, relying on solutions that we’ve already brought to market – which is why we are confident that we are able to meet our target.”
In addition to its new value chain emissions goal, Samsonite also announced commitments to maintain 100% renewable electricity in all the company’s own operations, including its retail stores, manufacturing and distribution facilities and offices, and to continue to implement energy efficiency and decarbonization measures at its facilities.
Samsonite achieved 100% renewable electricity in its operations in 2023, ahead of its 2025 target, and has reduced the carbon intensity of its operations by 85% on a 2017 basis, the company said.
Samsonite CEO Kyle Gendreau said:
“We are proud to leverage our leadership position to create a path towards a more sustainable future for the industry. We are partnering with our suppliers to significantly expand the use of recycled, lower-carbon materials while maintaining our long-standing commitment to durability.”
Mark founded ESG Today following a 20 year career in investment management and research. Prior to founding ESG Today, Mark worked at Delaney Capital Management (DCM) in Toronto, Canada, most recently as the firm’s head of U.S. equities. While at DCM, Mark was part of the firm’s ESG team, responsible for evaluating and tracking the sustainability factors impacting portfolio companies, and assessing the suitability of companies for portfolio inclusion. Mark also spent several years in the sell-side research industry, covering the technology and services sectors. Mark holds an MBA from Columbia University in New York, a BBA from the Schulich School of Business at York University in Toronto, and is a CFA charterholder.
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