Tapestry and Climeworks Announce Carbon Removal Partnership to Advance Innovative Climate Action

Zurich, Switzerland – Climeworks, a global leader in carbon removal solutions, and Tapestry, Inc. (NYSE: TPR), the parent company of Coach and kate spade new york, today announced a new partnership focused on scaling high-quality carbon removal as part of their broader approach to decarbonization.

Through this 10-year agreement, Tapestry has made its first purchase of carbon removals, accessing Climeworks’ most diversified carbon removal portfolio to date. The portfolio combines five high-quality carbon removal pathways, both engineered and nature-based, reflecting a shared commitment to innovation, risk diversification and long-term climate impact.

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Sourced by Climeworks’ scientific team, the portfolio includes projects that represent cutting edge developments in carbon removal, from accelerating natural mineral processes to generating renewable energy with permanent CO₂ storage and removing CO₂ directly from the air. These approaches are some of the most innovative and scientifically robust carbon removal solutions available today, while delivering strong co-benefits on land and communities. The partnership reflects Tapestry’s ambition to integrate climate-responsible practices into our business and Climeworks’ leadership in scaling trusted, science-based carbon removal solutions globally.

Tapestry is Climeworks’ first North American customer in the retail and consumer goods industry, underscoring the sector’s increasing interest in carbon removal and more broadly, decarbonization. The company will be using Climeworks’ carbon removal solutions to address its Scope 1 emissions and advance its long-term climate goals.

“We’re thrilled to partner with Tapestry, which is leading the way in consumer goods and retail,” said Adrian Siegrist, Chief Commercial Officer of Climeworks. “This collaboration not only underscores the retail sector’s growing commitment to climate action, but also shows Climeworks’ leadership in carbon removal portfolio services. Customers are increasingly seeking diversified portfolios of high-quality carbon removal solutions to manage risk and secure timely delivery today, and Climeworks is uniquely positioned to answer that need.”

“At Tapestry, we are focused on reducing emissions across our value chain while investing in solutions that help build a resilient, low-carbon future,” said Logan Duran, Global Head of ESG & Sustainability. “Working with Climeworks allows us to address our Scope 1 emissions through high-quality carbon removal, while supporting innovation and market development in this emerging climate solution space.”

About Tapestry, Inc.

Our global house of iconic accessories and lifestyle brands unites the magic of Coach and kate spade new york. Together, we stretch what’s possible – advancing brands further than they could go alone, expanding their reach to new geographies and generations. Inspired by our consumers, we create experiences and products that build lasting brand love and elevate everyday life. To learn more about Tapestry, please visit tapestry.com.

About Climeworks

Climeworks is a leading high-quality carbon removal provider, combining decades of expertise in Direct Air Capture (DAC) technology with holistic carbon removal solutions.

Climeworks offers an end-to-end enterprise service for premium carbon removal. Its tailored portfolios of nature-based and engineered solutions are designed to maximize business value and minimize risks. The company runs the world's first two DAC plants in Iceland, demonstrating its core commitment to high-quality carbon removal that is backed by over 15 years of pioneering research, development, and deployment.

By advancing the most reliable solutions in the market, Climeworks accelerates the global transition to net zero, unlocking economic value for businesses, governments, and society.