French luxury conglomerate Kering has announced its commitment to reducing greenhouse gas emissions by 40% by 2035. This ambitious target is based on a 2021 baseline and is an integral part of Kering’s vision for modern and responsible luxury. The commitment aligns with the company’s ongoing sustainability strategy and builds upon the progress it has already made towards its original social and environmental targets set for 2025.
François-Henri Pinault, Chairman and CEO of Kering, expressed the company’s determination to reach its sustainability goals. He emphasized the importance of absolute reductions in greenhouse gas emissions across all scopes of the greenhouse gas protocol – scopes 1, 2, and 3 – in order to effectively decarbonize global businesses. Pinault believes that combining impact reduction in absolute terms with value creation is the next crucial step towards achieving true sustainability.
Marie-Claire Daveu, Chief Sustainability and Institutional Affairs Officer at Kering, explained that the company’s long-term vision for driving sustainability in the luxury and fashion industries has led to the evolution of its sustainability strategy. By setting a target to reduce total absolute emissions, Kering aims to support the decarbonization of the entire group while aligning with a 1.5°C pathway. This commitment demonstrates the company’s unwavering commitment to progress and its determination to continuously raise the bar for sustainability.
Kering, the parent company of luxury brands such as Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, and Brioni, among others, will release its 2020-2023 Sustainability Progress Report on March 22. This report will provide valuable insights into the company’s achievements and efforts towards its ‘Crafting Tomorrow’s Luxury’ strategy, which has been in place for six years. With over 47,000 employees and generating €20.4 billion in revenue as of 2022, Kering is a major player in the luxury industry.
Kering’s commitment to reducing greenhouse gas emissions by 40% by 2035 showcases its dedication to sustainability and strengthens its position as a leader in the luxury sector. By setting ambitious targets and continuously striving for progress, Kering is driving positive change and inspiring other companies to prioritize environmental responsibility. Through its upcoming Sustainability Progress Report, Kering will provide transparency and accountability, offering valuable insights into its journey towards a more sustainable future.
Useful links:
1. Kering Sustainability
2. Kering’s Commitment to Sustainability
