PARIS – Members of The Fashion Pact have announced the launch of a Collective Virtual Power Purchase Agreement (CVPPA), with which they’ll endeavour to accelerate the industry’s transition to renewable electricity and the development of clean energy infrastructure.
Signatories to the pact – which commit to combatting global warming, restoring biodiversity and protecting the world’s oceans – include founder member Kering, as well as the likes of PVH Corp, Ralph Lauren, Adidas, Farfetch and Inditex.
Stefan Larsson, PVH’s chief executive, commented: “The Collective Virtual Power Purchase Agreement conveys that industry leaders are taking action to drive progress against renewable electricity targets and demonstrates the value of collective effort in tackling the fashion industry’s carbon footprint.”
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