Climeworks has signed a 10-year agreement with Tapestry, Inc., the parent company of Coach and Kate Spade New York, for the purchase of carbon removal credits as part of Tapestry’s decarbonisation strategy.
Under the deal, Tapestry has made its first investment in carbon removals, sourcing credits from Climeworks’ diversified portfolio. The portfolio includes five carbon removal pathways, combining engineered and nature-based approaches.
According to Climeworks, the portfolio includes projects focused on enhanced mineralisation processes, renewable energy generation with permanent CO₂ storage and direct air capture. Tapestry said it will use the carbon removal credits to address its Scope 1 emissions and support its long-term climate targets.
Tapestry becomes Climeworks’ first North American customer in the retail and consumer goods sector.
Adrian Siegrist, Chief Commercial Officer of Climeworks, said: “This collaboration not only underscores the retail sector’s growing commitment to climate action, but also shows Climeworks’ leadership in carbon removal portfolio services. Customers are increasingly seeking diversified portfolios of high-quality carbon removal solutions to manage risk and secure timely delivery today, and Climeworks is uniquely positioned to answer that need.”
Logan Duran, Global Head of ESG & Sustainability at Tapestry, said: “Working with Climeworks allows us to address our Scope 1 emissions through high-quality carbon removal, while supporting innovation and market development in this emerging climate solution space.”
