The Madrid-based fashion brand, which took part in the ranking for the first time ever, was awarded a B
CDP (formerly the Carbon Disclosure Project) is a globally recognised leader in carbon footprint data processing
Tendam, one of Europe’s leading fashion retailers operating in the specialized chain segment, which encompasses the Cortefiel, Pedro de Hierro, Springfield, Women’s Secret and Fifty brands, has been awarded a score of B from CDP (formerly the Carbon Disclosure Project), an independent -for-profit organisation that maintains the world’s most extensive database of corporate climate change data.
This recognition validates Tandem’s strategy and policies against climate change and, in turn, solidifies the company’s position at the forefront of international corporate responsibility. This is the first year that the fashion group has participated in the CDP ranking, which assessed 9,600 companies in 2020 (313 in the retail sector) representing 50% of global market capitalisation. CDP assigns scores from A (most committed) to D (least committed) as a reflection of each company’s management vis-a-vis climate change.
Jaume Miquel, Chairman and CEO of Tendam, said: “Our commitment to climate change is geared towards achieving carbon neutrality by 2050 and the significant reduction of emissions this goal demands. Joining the UN’s Business Ambition for 1.5ºC is part of our sustainability strategy, which is aligned with the objectives set out in the Paris Climate Agreement. We will continue to work to increase renewable energy use across our business; it already accounts for 100% of energy used in our Spanish operations and 80% of the total. At the same time, we will double down on the sustainability of our products and brands”.
The Spanish fashion group has also joined the Fashion Industry Charter for Climate Action, which, operating under the auspices of the United Nations Climate Change framework, is working to establish the initial targets and define the common steps needed to reduce greenhouse gas emissions 30% by 2030. The Charter also works on other specific goals, such as gradually eliminating all sources of carbon emissions in the supply chain. Tandem is also a member of the Steering Committee of the Fashion Pact, a global initiative to accelerate industry changes with a view to protecting the climate, biodiversity and the world’s oceans.
Tendam has made great strides in its commitment to tackling climate change, aligning its goals with international industry initiatives and joining forces to pursue the common challenge of achieving decarbonisation by 2050. Its strategy focuses on using natural materials in production, driving down emissions, using renewable energy and minimising water usage and waste.