American Eagle Outfitters, Inc. is a well-known fashion retailer based in the United States of America, which operates in the Teen & Young Adult Cloth Stores sector. The company was founded in 1977 and has since grown to become one of the most popular clothing brands in the country. American Eagle Outfitters, Inc. is known for its trendy and stylish clothing options that cater to the younger generation.
In recent years, American Eagle Outfitters, Inc. has taken steps to reduce its carbon footprint and promote sustainability. The company has made a commitment to decarbonisation and has set a goal to reduce its greenhouse gas emissions by 40% by 2030. This goal is in line with the Paris Agreement's target of limiting global warming to below 2 degrees Celsius.
To achieve this goal, American Eagle Outfitters, Inc. has implemented a number of initiatives to reduce its energy consumption and increase its use of renewable energy. The company has invested in energy-efficient lighting, heating, and cooling systems in its stores and distribution centers. It has also implemented a corporate energy management program that tracks and manages its energy use across its operations.
One of the most significant steps that American Eagle Outfitters, Inc. has taken towards decarbonisation is through the use of corporate power purchase agreements (PPAs). A PPA is a long-term contract between a company and a renewable energy provider, where the company agrees to purchase a certain amount of renewable energy at a fixed price over a set period of time. By entering into PPAs, American Eagle Outfitters, Inc. is able to secure a stable and predictable source of renewable energy, while also supporting the growth of the renewable energy industry.
In 2019, American Eagle Outfitters, Inc. signed a 310 MW PPA with a wind farm in Texas, which is expected to generate enough renewable energy to power 100% of the company's global operations. This PPA is the largest ever signed by a retailer and is a significant step towards achieving the company's decarbonisation goals.
In addition to its use of PPAs, American Eagle Outfitters, Inc. is also investing in on-site renewable energy generation. The company has installed solar panels on the roofs of several of its stores and distribution centers, which generate clean energy and reduce the company's reliance on grid electricity.
Overall, American Eagle Outfitters, Inc. is taking a proactive approach to decarbonisation and is setting an example for other companies in the fashion industry. By investing in renewable energy and reducing its energy consumption, the company is not only reducing its environmental impact but also improving its bottom line by reducing its energy costs.
In conclusion, American Eagle Outfitters, Inc. is a leading fashion retailer that is committed to sustainability and decarbonisation. The company has set ambitious goals to reduce its greenhouse gas emissions and is taking concrete steps to achieve them. Through the use of corporate PPAs and on-site renewable energy generation, American Eagle Outfitters, Inc. is demonstrating that it is possible for companies to reduce their environmental impact while also improving their bottom line. As the fashion industry continues to face increasing pressure to address its environmental impact, American Eagle Outfitters, Inc. is setting an example for others to follow.