Kering’s new reduction target in absolute terms represents the next necessary step to accelerate the implementation of the group’s vision of modern and responsible luxury, complementing the evolution of its sustainability strategy, the brand said in a press release.
Kering has committed to reducing its absolute greenhouse gas emissions by 40 per cent by 2035, based on a 2021 baseline. The company’s new target covers scopes 1, 2, and 3 of the greenhouse gas protocol. Kering has augmented its original social and environmental targets with dedicated strategies for climate, biodiversity, and circularity.
Over the last three years, Kering not only continued to make significant strides towards attaining its original social and environmental 2025 targets, but also augmented them through a series of ambitious new targets. Under dedicated strategies for climate, biodiversity, and circularity, these additional goals, combined with Kering’s new absolute target and its historical objectives, will continue to drive the transformation of the group’s business model.
“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,” said Francois-Henri Pinault, chairman and chief executive officer at Kering. “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 decarbonise 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.”
“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 decarbonisation 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,” said Marie-Claire Daveu, chief sustainability and institutional affairs officer at Kering.
Fibre2Fashion News Desk (NB)