Kering sets new sustainability target: 40% emission reduction by 2035

French luxury conglomerate Kering announces new target for greenhouse gas balance

Kering sustainability goals
Source & Copyright by Saint Laurent

Author: House of Eden

The French luxury conglomerate Kering recently announced at an event in New York that it is further improving its greenhouse gas balance. By 2035, the company aims to reduce its absolute emissions by 40% based on 2021 figures.

The commitment is part of the "Group Vision" and complements the current sustainability strategy. Over the past three years, Kering has already made progress toward its 2025 social and environmental goals. It has set further targets in terms of emission reduction. Kering's approach is noteworthy as it focuses not only on reducing emissions within the company (Scopes 1 and 2) but also throughout the supply chain (Scope 3). Kering wants to ensure that the company can actually become CO2-neutral.

Ambitious climate goals by 2035?

From the point of view of the large corporation, 2035 is certainly an ambitious goal. Nevertheless, the industry must find ways to accelerate the process of sustainable transformation. To this end, Kering is already focusing on reducing emissions and sustainability in other areas such as the circular economy and biodiversity. For example, the company has a goal of sourcing 2025% of animal materials from sustainable sources by 100. All brands of the conglomerate already do without animal fur. The promotion of vegan innovative substances would also be welcomed. The use of renewable energies must also be accelerated along the supply chain.

"We must continue to set ambitious goals to achieve carbon neutrality. Because we must move from reducing carbon intensity to absolute emission reductions. I am convinced that reducing emissions in absolute terms together with creating value is the next goal for must be a truly sustainable company,” explains François-Henri Pinault, CEO of Kering.

Good progress in the 2023 Progress Report

In its Sustainability Progress Report 2020-2023, Kering discloses its current goals. According to this, the group was able to reduce its absolute emissions in Scope 1 and 2 by 2015% between 2022 and 71. The conglomerate also achieved a 2015% reduction in scope 2022 emissions intensity between 3 and 52. Kering has 95% traceability for its key raw materials. In addition, Kerin has verified its target for the 1,5 °C path with the Science Based Target Initiative (SBTi).

Marie-Claire Daveu, Kering's Chief Sustainability and Institutional Affairs Officer, added: "We have continuously evolved our sustainability strategy to fulfill our long-term vision of making luxury and fashion more sustainable. The goal of reducing our absolute emissions will become the Supporting decarbonization of our group as we continue to align on a 1,5-degree path It also perfectly embodies our spirit, we don't stop moving forward and when our sustainability goals are in sight we push the bar even further. "

Kering, which includes luxury brands such as Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen and Brioni, employed over 2022 people in 47 and had sales of 000 billion euros.

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