Friday, June 2, 2023

Kering Sets Ambitious Goal to Cut Greenhouse Gas Emissions by 40% by 2035


Today, luxury fashion conglomerate Kering unveiled its new sustainability commitment during a New York event, setting an ambitious target of reducing its absolute greenhouse gas emissions by 40 percent by 2035 over 2021’s baseline.

This announcement comes just before the release of Kering’s 2020-2023 Sustainability Progress Report, which highlights the company’s progress six years into its ‘Crafting Tomorrow’s Luxury’ strategy.

Kering’s New Absolute Emission Reduction Target

Kering’s decision to reduce its greenhouse gas emissions by 40% in absolute terms represents a crucial step in achieving the Group’s vision of modern and responsible luxury. This new goal complements the evolution of Kering’s sustainability strategy, which has seen the company make significant progress in achieving its original social and environmental targets for 2025. In addition to these original targets, Kering has set ambitious new goals focused on climate, biodiversity, and circularity.

These additional objectives, combined with Kering’s new absolute target and its historical goals, will continue to drive the transformation of the Group’s business model, emphasizing a commitment to sustainable practices.

Leadership Comments on the New Absolute Emission Reduction Target

François-Henri Pinault, Chairman and CEO at Kering, expressed his satisfaction with the company’s progress, stating, “Kering and our Houses have made significant strides to reach our sustainability targets over the last years, and, in parallel, we have augmented our ambitions.” He further explained the rationale behind the new absolute target, saying, “Now we are setting this new absolute target, spanning scopes 1, 2, and 3 of the greenhouse gas protocol, because, if we want to truly decarbonize our global businesses, we need to move from carbon intensity reductions to absolute reductions. I am convinced that impact reduction in absolute terms combined with value creation must be the next horizon for truly sustainable companies.”

Marie-Claire Daveu, Chief Sustainability and Institutional Affairs Officer at Kering, also commented on the company’s ongoing commitment to sustainability: “To match our long-term vision to help drive luxury and fashion’s sustainability agenda, we have continued to evolve our sustainability strategy. Setting a target to reduce our total absolute emissions will support the decarbonization of our Group, while we continue to align with a 1.5° pathway. It also perfectly encapsulates our spirit; we never stop pushing forward, and when our sustainability targets are in sight, we move the benchmark even further away.”

Looking Forward: Kering’s Commitment to Sustainable Luxury

With the introduction of this new absolute emission reduction target, Kering reinforces its dedication to transforming the luxury and fashion industries. The company’s ongoing efforts to reduce its environmental footprint and promote sustainable practices will continue to pave the way for other brands to follow suit, proving that luxury and responsibility can coexist.

A global Luxury group, Kering manages the development of a series of renowned Houses in Fashion, Leather Goods and Jewelry: Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, Brioni, Boucheron, Pomellato, DoDo, Qeelin, as well as Kering Eyewear. By placing creativity at the heart of its strategy, Kering enables its Houses to set new limits in terms of their creative expression while crafting tomorrow’s Luxury in a sustainable and responsible way. We capture these beliefs in our signature: “Empowering Imagination”. In 2022, Kering had over 47,000 employees and revenue of €20.4 billion. 


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