Kering said its commitment is an extension of its annual offsetting approach that has been established since 2011 and initially incorporated Scopes 1 and 2 of the Greenhouse Gas Protocol. Since then, the luxury fashion Group has been leveraging its pioneering Environmental Profit and Loss (EP&L) accounting to analyse its Greenhouse Gas emissions (GHG) up to the base of the supply chain, where raw materials are created. According to Kering, this comprehensive data has enabled its Houses to put in place customised supply chain initiatives and efficiency programs to effectively avoid and reduce its emissions. Kering also set a Science-Based Target (approved by the SBT initiative) to reduce all its GHG emissions related to its own operations and supply chain by 50% by 2025 (from a 2015 baseline).

Key sustainability initiatives that have already supported the Group’s SBT include implementing the Kering Standards for Raw Materials and Manufacturing Processes outlining best practices and sustainability requirements, which delivers more than 20% of the overall SBT reduction target; increasing the conversion to renewable energy to meet its 100% commitment for the Group and adopting key manufacturing efficiencies and innovative programmes.

Kering said it is now offsetting all the remaining annual emissions in Scope 3 of the GHG Protocol as well. For 2018, the total remaining GHG emissions offset for the Group will be approximately 2.4 million tonnes CO2E. The Group said it has also prioritised the conservation of biodiversity for years and the 2018 offsets will equal nearly two million hectares of important forests around the world. “When it comes to climate change, we can no longer wait to take real action. We all need to step up as businesses and account for the GHG emissions that we generate in total”, said François-Henri Pinault, Chairman and CEO, Kering. “We are committing to become completely carbon neutral as a Group across all our operations and supply chains”.