Summit

Climate Report 2026

# Measured.
Accountable.
Moving.

Our fourth annual climate disclosure. Verified emissions data, updated targets, and a frank account of where we fell short.

00 / 11
01 / 11

01 · Climate Commitments

## Net Zero by 2030

In 2022 we set a binding commitment to reach net-zero greenhouse gas emissions across Scope 1, 2, and 3 by end of decade. This report marks our fourth annual review against that baseline.

Scope 1 and 2 emissions have declined 38% since 2022, driven by our transition to renewable electricity across all owned facilities and the closure of our diesel-heated Vancouver distribution centre.

Scope 3 — representing 84% of our total footprint — remains the hardest problem. Supply chain decarbonisation requires multi-year programmes with tier-2 and tier-3 suppliers in Southeast Asia, progress on which we detail in section five.

02 / 11

02 · Material Transition

## 67% Recycled Fibre

As of the 2026 product season, 67% of all fabric used across Summit's softshell, fleece, and base-layer categories is certified recycled or bio-based — up from 41% in 2022.

This transition was enabled by long-term contracts with Bluesign-certified mills in Portugal and Taiwan, and by a redesign of our technical shell programme to accept fabrics with a higher rPET content without compromising DWR performance.

Our virgin nylon and polyester volumes fell 29% by weight. The remaining 33% of virgin fibre is primarily structural components — webbing, buckles, and dyneema reinforcements — where recycled equivalents have not yet reached equivalent load ratings.

03 / 11

03 · Field Programme

## Three Programmes Driving On-the-Ground Change

Alpine Stewardship

### Trail Restoration · Chamonix Valley

Over three field seasons, Summit crews have restored 34 km of degraded high-altitude trails alongside the PGHM mountain rescue service, removing invasive species and stabilising eroded sections above 2,400 m.

Chamonix Valley · 2024–2026

Circular Economy

### Take-Back & Repair — 18,400 Units Diverted

Summit's take-back programme — operational in 12 European markets — collected and assessed 18,400 end-of-life garments in 2026. Of those, 61% were repaired and returned to secondary market via our Refurbished line; 22% were downcycled into insulation fill; and 17% were recycled into raw fibre at our partner facility in Lyon.

The programme prevented an estimated 112 tonnes CO₂e of production emissions by extending garment lifespans beyond the primary owner cycle. In 2027 we will expand the collection network to North America.

Lyon Recycling Facility · Partner Programme 2026

Watershed Programme

### Glacial Meltwater Monitoring · Mont Blanc

Partnering with CNRS, Summit funds a network of 14 automated sensors measuring turbidity, flow rate, and mineral load in four glacial outwash streams on the Mont Blanc massif, generating data used in French government water management planning.

Mont Blanc Massif · CNRS Partnership

04 / 11

Strategic Approach

## Three Levers, One Deadline

Our net-zero strategy is built around three interdependent levers that must be pulled simultaneously. Each lever targets a distinct portion of our emissions inventory and requires a different organisational capability and investment horizon.

The sequence is not linear. Operational efficiency gains fund supplier transition programmes; improved supplier traceability unlocks material substitution at scale; and permanent carbon removal is held as a last resort, not an offset mechanism.

Decarbonisation Levers

01

#### Operational Efficiency

Reduce direct energy consumption in owned and leased facilities. Target: 100% renewable electricity by end of 2026. Current status: 94% of global floor area on renewable tariffs or on-site generation.

Est. abatement: 4,200 tCO₂e / yr

02

#### Supply Chain Transition

Require Scope 1 and 2 decarbonisation plans from all tier-1 suppliers by 2027, with binding reduction targets embedded in contract renewals. Provide technical and financial support for mill efficiency upgrades.

Est. abatement: 28,600 tCO₂e / yr

03

#### Permanent Carbon Removal

Commission high-durability CDR (biochar, enhanced weathering) to address residual hard-to-abate emissions. No reliance on avoided-deforestation credits. Budget ring-fenced from 2028 onwards.

Target residual: <3,000 tCO₂e

05 / 11

05 · Decarbonisation Roadmap

## Four Phases to Net Zero

01

#### Raw Material Audit · 2024–2025

Full lifecycle assessment of every material category above 500 kg annual volume. Identifies hotspots and establishes substitution priorities. Completed across 94% of SKU volume.

02

#### Supply Chain Transition · 2025–2027

Binding emission reduction schedules embedded in tier-1 supplier contracts. Technical support programme active with 18 mills. Traceability platform deployed for 76% of fabric spend.

03

#### Product Life Extension · 2026–2029

Standardised repairability specs mandated across all technical outerwear. Take-back programme expansion to North America and Japan. Resale revenue target: €12M by 2029.

04

#### Carbon Removal & Closure · 2028–2030

Ring-fenced budget for high-durability CDR to address hard-to-abate residual. Net-zero declaration scheduled for 2030 subject to third-party verification against Science Based Targets initiative criteria.

Roadmap Rationale

## Sequenced, Not Simultaneous

The four phases are designed to compound. Each earlier phase builds the organisational capability, supplier relationships, and data infrastructure that the following phase depends on.

Attempting all four phases simultaneously would dilute attention and create conflicting investment priorities. The sequenced model also allows us to retire each phase formally, with verified outcomes, before proceeding — a structure our board-level Climate Committee reviews annually.

Independent progress reviews are conducted each August, with public disclosure in October. Phase 2 received its first formal midpoint review in August 2026; findings are referenced in the assurance annex.

06 / 11

06 · Assurance Tables

## Emissions by Scope 2022–2026

All figures independently verified by Bureau Veritas to ISAE 3000 (Revised) limited assurance standard. Prior-year figures have been restated for the 2026 logistics reclassification.

Scope 3 categories included: purchased goods and services, upstream transportation, business travel, employee commuting, end-of-life treatment of sold products, and downstream leased assets.

Year-on-year delta columns use 2022 as the baseline year. The marked improvement in Scope 2 from 2023 onwards reflects the full-year effect of renewable electricity agreements signed in Q4 2022.

GHG Inventory · kt CO₂e

Scope | 2022 | 2023 | 2024 | 2025 | 2026 | vs. 2022
--- | --- | --- | --- | --- | --- | ---
Scope 1 — Direct combustion | 3.2 | 2.9 | 2.4 | 2.1 | 1.9 | −41%
Scope 2 — Purchased electricity | 6.8 | 4.1 | 2.6 | 1.8 | 1.4 | −79%
Scope 1+2 (net) | 10.0 | 7.0 | 5.0 | 3.9 | 3.3 | −67%
Scope 3 — Purchased goods & services | 28.4 | 27.1 | 25.8 | 23.6 | 21.2 | −25%
Scope 3 — Upstream logistics | 5.6 | 5.2 | 4.8 | 4.3 | 3.9 | −30%
Scope 3 — Business travel & commute | 1.8 | 1.6 | 1.4 | 1.2 | 1.0 | −44%
Scope 3 — End-of-life treatment | 2.4 | 2.2 | 2.0 | 1.8 | 2.0 | −17%
Scope 3 total | 38.2 | 36.1 | 34.0 | 30.9 | 28.1 | −26%
Total gross emissions | 48.2 | 43.1 | 39.0 | 34.8 | 31.4 | −35%

Thousands of tonnes CO₂e · Bureau Veritas ISAE 3000 Limited Assurance · Restated for 2026 logistics reclassification

07 / 11

Carbon Pathway 2026–2030

01

#### Assess

Full-scope baseline audit across Tier 1–3 suppliers, owned manufacturing, retail operations, and last-mile logistics. Results form the binding 2026 emissions inventory submitted to Bureau Veritas for third-party assurance. All data collected against the GHG Protocol Corporate Standard, with market-based Scope 2 accounting applied across 14 countries.

02

#### Reduce

Transition primary manufacturing sites to certified renewable electricity by 2027. Parallel workstream: packaging redesign targeting 40% virgin plastic elimination.

03

#### Offset

High-integrity forest and blue carbon credits verified under Gold Standard VER. Capped at 15% of residual emissions — not a substitute for reduction.

04

#### Certify

ISO 14064-3 third-party verification and Net Zero declaration by December 2030.

Category | 2024 | 2025 | 2026 | YoY
--- | --- | --- | --- | ---
Apparel | 18.4 | 16.1 | 14.2 | −12%
Footwear | 9.7 | 8.4 | 7.3 | −13%
Accessories | 4.2 | 3.9 | 3.4 | −13%
Logistics & Ops | 5.1 | 4.7 | 4.1 | −13%
Total (kt CO₂e) | 37.4 | 33.1 | 28.9 | −13%

Thousands of tonnes CO₂e · Scope 1+2+3 combined · Bureau Veritas assured

Internal Carbon Price

USD / tonne CO₂e · 2022–2026 monthly

08 / 11

07 · Year In Brief

## 2026 in brief

- 67% of all fibre volume used in technical apparel now comes from recycled or bio-based inputs, up from 41% in the 2022 baseline year.
- Renewable electricity contracts now cover 94% of owned and leased floor area, reducing market-based Scope 2 emissions by 79% versus 2022.
- The repair and take-back programme processed 18,400 garments this year, diverting 112 tonnes CO₂e of production emissions through resale and refurbishment.
- Supplier transition plans are active across 18 strategic mills, representing 76% of fabric spend and 63% of category emissions.
- Our 2030 roadmap remains on track, but chemical finishes, trims, and high-load structural components remain the largest residual material challenge.

Feature programme

### Shell redesign programme enters commercial scale

A three-season redesign of our alpine shell platform enabled higher rPET content while preserving waterproof-breathable performance in cold-weather field tests.

### Repair network expands to 42 service points

Circular systems

Lead times fell from 24 to 11 days as in-market repair hubs replaced centralized return handling across France, Germany, and the Nordics.

### Mill electrification pilots reduce heat-process intensity

Supplier transition

Two strategic dyeing partners completed boiler retrofits and heat recovery pilots, cutting process emissions by 14% per metre of finished fabric.

09 / 11

08 · Climate data brief

## Progress by source

- Direct operations continue to decarbonise fastest, with Scope 1 and 2 now representing just 11% of gross emissions.
- Purchased goods and services remain the largest structural source, but intensity is falling as supplier transition plans move from reporting to equipment upgrades.
- Logistics and downstream end-of-life impacts show smaller absolute shares, but they require separate operational levers rather than material substitution alone.

Forward looking

2027 focus shifts from quick operational wins to supplier-side energy, chemistry, and process redesign, where payback periods are longer but abatement potential is materially larger.

Emissions by source — kt CO₂e

Category | 2022 | 2023 | 2024 | 2025 | 2026 | vs. 2022
--- | --- | --- | --- | --- | --- | ---
Purchased goods & services | 28.4 | 27.1 | 25.8 | 23.6 | 21.2 | -25%
Upstream logistics | 5.6 | 5.2 | 4.8 | 4.3 | 3.9 | -30%
Business travel & commute | 1.8 | 1.6 | 1.4 | 1.2 | 1.0 | -44%
Scope 3 total | 38.2 | 36.1 | 34.0 | 30.9 | 28.1 | -26%

Operational indicators

Indicator | 2022 | 2023 | 2024 | 2025 | 2026 | YoY
--- | --- | --- | --- | --- | --- | ---
Renewable floor area % | 38 | 61 | 78 | 89 | 94 | +5pp
Repair turnaround days | 29 | 26 | 18 | 14 | 11 | -3d
Supplier plans active | 4 | 7 | 12 | 15 | 18 | +3
Residual emissions intensity | 100 | 92 | 84 | 75 | 65 | -10 pts

Capital & Investment

Item | 2022 | 2023 | 2024 | 2025 | 2026 | YoY
--- | --- | --- | --- | --- | --- | ---
Green capex (SEKm) | 1,240 | 1,580 | 2,140 | 2,870 | 3,410 | +19%
R&D spend (SEKm) | 8,400 | 9,100 | 10,200 | 11,600 | 13,100 | +13%
Carbon offset purchased (kt) | 420 | 380 | 310 | 240 | 180 | -25%
Total climate investment | 9,640 | 10,680 | 12,340 | 14,470 | 16,510 | +14%

Scope 1+2

kt CO₂e · market based

Scope 3 total

kt CO₂e

Repair volumes

units processed

Renewable share

% of floor area

10 / 11
Summit

# The work continues
beyond the page.

Progress is verifiable. The targets are binding. We will report again in October 2027 with full Bureau Veritas verification of our 2027 emissions inventory.

11 / 11