Prioritizing Renewable Energy
Sourcing and using clean and renewable energy is a key component to our climate strategy. Our ultimate aim is to reach 100% renewable electricity globally, increasing both renewable energy generation and purchases.
Today, we purchase the majority of our renewable electricity, and we generate solar energy at Tiffany & Co. locations in the Dominican Republic, Cambodia, New Jersey and Rhode Island. In Fiscal Year 2020, we purchased renewable electricity equivalent to 100% of our electricity use in 29 of our markets, including the U.S., China and the EU; and 85%* of our global electricity use came from clean, renewable sources, including purchased renewable energy and solar energy generated at Tiffany & Co. locations.
We set a new 2025 goal to reduce total Scope 1 and Scope 2 GHG emissions by 70% compared to 2018 levels. Our previous goal was to reduce emissions by 15% from 2013 through 2020, regardless of how much our business grows. We exceeded that goal and reduced emissions by 17% through a combination of our energy-efficiency initiatives and renewable energy sourcing.