The firm, which has made its most iconic products in Castleford and Keighley in Yorkshire for over 100 years, will invest in key initiatives to support wider climate change efforts beyond its value chain.
This includes cutting emissions across its extended supply chain by 46 per cent by 2030 and developing projects that support others in their own carbon journeys.
Burberry also announced its support for the Fashion Avengers, a coalition of global organisations that have come together to inspire action towards achieving the UN’s Sustainable Development Goals.
Marco Gobbetti, Burberry's chief executive, said: “Burberry was built upon a desire to explore nature and the great outdoors and they have remained our inspiration for more than 150 years.
"Drawing on this heritage of exploration and driven by our creative spirit, today, we are setting a bold new ambition: to become climate positive by 2040.
"As a company, we are united by our passion for being a force for good in the world. By strengthening our commitment to sustainability, we are going further in helping protect our planet for generations to come.”
Riccardo Tisci, chief creative officer at Burberry, said: “I have always had a very deep, emotional connection to nature.
"It has a power and a purity that gives you a sense of coming back to yourself and of what is really important in life. I am so proud that as a company we are making these inspiring steps to protect our beautiful planet and the future for our next generations.”
Pam Batty, VP for corporate responsibility, added: “Becoming Climate Positive reflects our commitment to drive positive change in our industry.
"Our new ambition means that we aim not only to accelerate our work to reduce emissions across our extended supply chain in the near term and meet net zero by 2040, but also to support the world’s efforts to create a resilient, low carbon future.
"By continuing to collaborate with our partners, we hope to continue pushing boundaries, set leading standards and pioneer innovative solutions to create real system change.”