Kering Commits to 40% Absolute Emissions Reduction Across Value Chain
Luxury brand group Kering announced a new climate commitment, with a goal to reduce greenhouse gas emissions by 40% by 2035 across the company’s value chain – including Scope 1, 2 and 3 emissions – on a 2021 basis.
The new goal is an update to the company’s prior emissions targets, which included reducing absolute Scope 1 and 2 emissions by 90% and Scope 3 intensity by 70% by 2030, all on a 2015 baseline. By the end of 2021, Kering was ahead of schedule on both goals, with Scope 1 and 2 reductions reaching 70%, and Scope 3 emissions intensity having declined by 47%.
The updated commitment changes the company’s Scope 3 target to an absolute emissions reduction goal, from the prior goal to reduce intensity, or to decrease emissions per unit of activity. Additionally, the absolute emissions reduction target does not include the use of carbon offsetting.
François-Henri Pinault, Chairman and Chief Executive Officer at 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.”
Kering’s 2021 Climate Strategy report outlined several of the company’s Scope 3 emissions reduction strategies, which included programs to increase material, chemical, water and energy efficiency with in the textile supply chain, increasing renewable energy use through the supply chain, shifting to lower emissions shipping modes, adopting more circular approaches to raw materials sourcing, and reducing single-use plastic packaging.
Marie-Claire Daveu, Chief Sustainability and Institutional Affairs Officer at Kering, said:
“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.”