10:35:16 EDT Fri 03 May 2024
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Globe/CP say Lululemon accused of greenwashing

2024-02-14 07:12 ET - In the News

See In the News (C-LULU) Lululemon CDR (CAD Hedged)

The Vancouver Sun reports in its Wednesday edition that a B.C. non-profit has asked the Competition Bureau to investigate athletic wear giant Lululemon, alleging the company is misleading customers about its environmental effects. A Canadian Press dispatch to The Sun says a statement from Stand.earth argues that Lululemon has been using the slogan "Be Planet" as part of its "impact agenda" released in 2020, but the company's own reports reveal a doubling of greenhouse-gas emissions since then. Lululemon's 2022 impact report says its "products and actions help lead [the] industry toward a climate-stable future where nature and people thrive." It says the Vancouver-based company aims to meet a series of climate action targets by 2030, including a 60-per-cent reduction in emissions intensity for "Scope 3" operations, encompassing the making and shipping of clothing globally. However, Lululemon's reports, cited by Stand.earth, show total emissions for that category rose to nearly 1.7 million tonnes, up from about 830,000 tonnes in 2020. Stand.earth said that while Lululemon claims that its products are good for the planet, more than 60 per cent of the materials for its products are made directly from fossil fuels.

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