(BRK.A), (BRK.B)
Berkshire Hathaway’s Brooks Running announced its new 2030 planet strategy, a science-backed approach that will take responsibility for the impact the brand has on the environment.
“At Brooks, we think that climate change demands urgent and universal action,” said David Kemp, Senior Manager of Corporate Responsibility at Brooks Running. “Because more than 150 million people worldwide run outside, it’s critical that we take responsibility for our impact on the planet.”
While the brand’s sustainability efforts span over a decade, this initiative will accelerate commitments, with a focus on climate action and sustainable consumption.
Brooks’ commitment to achieve net zero carbon emissions by 2040 will be achieved by first reducing emissions in line with climate science, with Brooks’ Science Based Targets to reduce carbon emissions recently validated by the Science Based Target initiative. Brooks has developed a robust climate roadmap on how they will achieve these emissions reductions with key strategies to decarbonize including converting factories to renewable electricity, converting textile yarns to low impact dyeing processes and sourcing materials with recycled content.
In partnership with ClimateCare, Brooks will purchase high-quality carbon credits from projects that avoid or reduce carbon emissions from entering the atmosphere. The portfolio of projects includes projects from the U.S., where Brooks is headquartered and a majority of product is sold, and international countries where Brooks employees are located and some of the brands product and materials are manufactured. In addition to meeting strict criteria for selecting carbon offsets projects, each of the projects provides additional environmental and social benefits – including a focus on improving air quality and advancing health and well-being.
The brand will make an immediate impact by offsetting emissions from its highest-volume style, the Ghost. The Ghost 14, launching July 1st, is Brooks’ first carbon neutral product. In addition to reducing the product’s environmental impact by incorporating recycled materials, Brooks will purchase carbon offsets from projects that meet strict criteria for making a meaningful difference in addressing climate change.
Brooks plans to reduce its usage of non-renewable resources by incorporating more sustainable materials into products while minimizing the waste associated within the manufacturing process.
In 2022, the brand will launch a take-back program, which will lay the groundwork for a fully circular shoe in the years to come. By 2023, Brooks will move to 100% recycled polyester in footwear and new apparel materials and is committed to zero footwear manufacturing waste to landfill, incineration, and the environment by 2025.
“We believe that the run can change everything: your day, your life and even the world. But to make those benefits available to all, we need to participate on a global scale,” Kemp said. “We’ve charted our program to support United Nations 2030 Sustainable Development Goals, and joined The Climate Pledge, because partnerships will be critical to achieving our ambitious goals.”
© 2021 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.