BURBERRY TO BE CLIMATE POSITIVE BY 2040

• Burberrysetsboldnewsustainabilityambition,becomingfirstluxurybrandtopledgetobecomeClimatePositiveby2040, going further than its current 2040 net-zero target by investing in key initiatives to support wider climate change efforts beyond its value chain.

• Underpinning this pledge is a series of commitments Burberry will achieve on its journey to Climate Positive. This includes cutting emissions across its extended supply chain by 46% by 2030 and developing projects which support others in their own carbon journeys.

• Burberry also announces its support for the Fashion Avengers, a coalition of global fashion organisations that have come together to inspire action towards achieving the UN’s Sustainable Development Goals (SDGs).

  “Burberry was built upon a desire to explore nature and the great outdoors and they have remained our inspiration for more than 150 years. Drawing on this heritage of exploration and driven by our creative spirit, today, we are setting a bold new ambition: to become climate positive by 2040. As a company, we are united by our passion for being a force for good in the world. By strengthening our commitment to sustainability, we are going further in helping protect our planet for generations to come.”

Marco Gobbetti, Chief Executive Officer at Burberry

Today, Burberry announces its pledge to become Climate Positive by 2040, setting a new industry standard that goes further than the company’s current 2040 net-zero target. To achieve this, Burberry will take action within its own value chain, guided by climate science. This includes:

• Accelerating its ambition to reduce emissions across its extended supply chain*, aiming to reduce them by 46% (from a previous target of 30%) by 2030. This means Burberry’s Science Based Targets will be aligned to the 1.5°C pathway set out in the Paris Agreement.**

• Becoming Net-Zero by 2040, 10 years ahead of the 1.5°C pathway set out in the Paris Agreement.

• Accelerating low-carbon future solutions and investing in nature-based projects with carbon benefits that restore and

protect natural ecosystems and enhance the livelihoods of global communities through the Burberry Regeneration Fund.

Burberry will also invest in initiatives beyond its value chain that support the world’s efforts to create a resilient, zero carbon future. This includes:

• Investing in programmes that protect and restore natural ecosystems that remove carbon from the atmosphere.

• Funding climate resilience projects that empower vulnerable, frontline communities to adapt to changing realities and

  protect livelihoods.

• Actively advocating for what it will take to transform the fashion industry, in partnership with NGOs, peers and policymakers.

The Burberry Regeneration Fund was established in 2020 to support a portfolio of verified carbon offsetting and insetting projects, which enable Burberry to compensate and store carbon, promote biodiversity, facilitate the restoration of ecosystems and support the livelihoods of local communities. For its inaugural insetting project, Burberry is partnering with PUR Projet to implement a regenerative agricultural programme with wool producers in Australia. The project works at farm level to improve carbon capture in soils, strengthen watershed and soil health and promote biodiverse habitats.

Burberry’s new climate ambition builds on the company’s heritage of exploration and long-standing environmental and social programmes. On its journey to become Climate Positive, Burberry will also continue to advocate for changemakers and support programmes transforming the fashion industry, in partnership with NGOs, peers and policymakers.

In addition, Burberry announces its support for the Fashion Avengers, a coalition of global fashion organisations that have come together to inspire action towards achieving the UN’s Sustainable Development Goals (SDGs). As part of this, Burberry is supporting the Forest for Change, a UN Global Goals installation created by British designer Es Devlin for the 2021 London Design Biennale. From 1 - 27 June 2021, the courtyard of Somerset House in London will be transformed into a forest, inviting visitors to discover the 17 UN Global Goals.

0. *Scope 3 emissions

   **The Paris Agreement’s goal is to limit global warming to well below 2°C, preferably to 1.5 °C, compared to pre-industrial levels. Burberry is already on its way to meeting its scope 1 and 2 reductions targets (95% by 2022 from a 2016 base year) in line with the 1.5°C pathway