Tiffany And Co

Tiffany And Co's reported carbon emissions

Tiffany & Co.'s Carbon Emissions and Climate Commitments In 2022, Tiffany & Co. reported a total of approximately 424.6 million kg CO2e in greenhouse gas emissions. This figure includes Scope 1, Scope 2 (market-based), and Scope 3 emissions. Specifically, Scope 1 emissions amounted to approximately 2.9 million kg CO2e, Scope 2 (market-based) emissions were around 5.5 million kg CO2e, and Scope 3 emissions totalled approximately 418.9 million kg CO2e. The company has established ambitious climate targets. By 2030, Tiffany & Co. aims to reduce its Scope 1 and 2 greenhouse gas emissions by 70% from a 2019 baseline. Concurrently, it is committed to a 40% reduction in Scope 3 emissions by the same year, also against a 2019 baseline. Looking further ahead, Tiffany & Co. has set a net-zero target for 2040, aiming for a substantial 90% reduction in its combined Scope 1, 2, and 3 emissions from the 2019 baseline. The company reported being on track to meet its 2022 reduction goals, having achieved approximately 33% reductions across both Scope 1 and 2, and Scope 3 emissions in that year. Tiffany & Co. is headquartered in the US and operates within the retail trade services industry, excluding motor vehicles and motorcycles, and repair services for personal and household goods. The company's climate commitments align with Science Based Targets initiative (SBTi) recommendations, with targets set for a 1.5°C future. It is noted that some climate initiative data is cascaded from its parent company, LVMH Moët Hennessy - Louis Vuitton, Société Européenne, specifically for the "Race to Zero" (RTZ) initiative. However, emissions data appears to be reported directly by Tiffany & Co. for its own operations.