Kering outlines new 40 percent GHG reduction target

Kering, a luxury fashion conglomerate, has outlined a new commitment to reduce its greenhouse gas emissions (GHG) by 40 percent by 2035.

The group said the new target came as a next step in accelerating its sustainability strategy, which it is looking to implement throughout its portfolio of brands.

Linked to a 2021 baseline, it builds on the company’s efforts to attain social and environmental targets that it had initially set for 2025 as it looks to develop them with ambitious new targets.

In a release, François-Henri Pinault, chairman and CEO of Kering, said: “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.

“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.”

The new target also ties into Kering’s six-year-old ‘Crafting Tomorrow’s Luxury’ strategy, which has continued to evolve since its inception.

Marie-Claire Daveu, chief sustainability and institutional affairs officer, added: “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 degree 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.”