Luxury fashion group Kering claims progress on sustainability

Luxury fashion group Kering, which owns brands including Gucci, Saint Laurent, Bottega Veneta, Balenciaga and Alexander McQueen, claims to be well on the way to meeting its 2025 sustainability targets.

The company says it reduced its greenhouse gas (GHG) emissions by 77 per cent in its own operations (scopes 1 and 2) between 2015 and 2018, based on the company’s own Environmenal, Profit and Loss (EP&L) measuring tool.

Over the same period, it reduced its wider Science-Based Targets (scopes 1 and 2, plus part of scope 3) by 36 per cent putting it on track to meet its 2025 target of reducing emissions by 50 per cent.

Kering also claims to have reduced its overall environmental impact by 14 per cent between 2015 and 2018, increased its use of renewable energy to 100 per cent in seven countries, and to 67 per cent overall. And it claims 88 per cent traceability for its key raw materials.

The company says the results show “serious progress” in meeting the targets it set itself to meet by 2025 in its sustainability strategy, entitled Crafting Tomorrow’s Luxury, announced three years ago.

François-Henri Pinault, Chairman and CEO of Kering, said: “We have long been committed to transparently reporting on the impacts generated by all of Kering’s business activities, including those outside of our legal boundaries.

“Setting ambitious targets that incorporate our entire supply chain and documenting our sustainability progress to ensure we are truly moving the needle forward on climate action and social good is also an imperative.

“Our industry needs bold action at the start of this new decade, and transparency and open collaboration are critical if we are to effectively address our challenges to decarbonise our companies.”

The statistics are published in Kering’s new Sustainability Progress Report and mostly based on the company’s Environmenal, Profit and Loss (EP&L) measuring tool which measures, monetises and monitors the environmental impact of its business activities.

Progress on Kering’s sustainability strategy is measured against 73 ‘environmental key performance indicators’ (eKPIs) across its own operations and entire supply chain.

Courtesy: Eco Textile News