Kering’s Mission for Emissions
A moral Tulerie has chosen to stand by is, “buy less, buy better.” This means we are instilling in our Tulerettes that, as consumers, we should be considerate about when and what we purchase and only invest in meaningful items of better quality.
To hear that Kering, luxury goods corporation that owns brands such as Gucci, Saint Laurent, Alexander McQueen, and Bottega Veneta, is choosing to stand by “make less, make better” is a big step in the right direction of fashion’s future.
Kering has officially announced that it will commit to reducing absolute greenhouse gas emissions across its multiple businesses by 40 percent by 2035. Found in WWD François-Henri Pinault, Kering’s chairman and CEO, says, “we are setting this new absolute target, spanning scopes one, two, and three 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.”
Although other companies, along with Kering, have been focusing on emission intensity, Kering will be the first to change that target to an absolute and solve the connection between their growth and greenhouse gas emissions.
As a company backed by luxury, Kering set straight its priorities of more value and less volume. “At the end of the day, what’s important for the planet is your volume of greenhouse gas emissions,” says Marie-Claire Daveu, Kering’s chief sustainability and institutional affairs officer.
Kering will work on finding a way to achieve financial growth while simultaneously driving emissions down. If this sounds ambitious, that's because it is, which makes their new plan even more powerful. However, this is the energy we need in the luxury community to not only inspire and hold the pressure on other companies but also individual consumers to start putting more thought behind purchases.
What’s exciting is that the initiatives will improve the craft of Kering’s luxury brands. They are concerned with increasing their products' quality, durability, and exclusivity. This will also increase the price, which will generate the most revenue. However, this comes at a cost for consumers, but maybe these higher price points will be the wake-up call for people to think about a want versus a need.
To meet these requirements, Kering has outlined its three-pillar approach as part of its 2020-2023 progress report on its sustainability efforts. Activities span three pillars: care, collaborate, and create.
The work under the care pillar will focus on motivating and connecting with employees worldwide to engage with every one of their markets and providing the proper context for their customers on its sustainability efforts. The collaboration can be found within the new “sustainable finance” department that will “follow in depth the decarbonization roadmap and everything linked with our strategy, and to be sure that business and sustainability go hand in hand,” says Daveu. Lastly, the creation and craft will continue to explore renewable energy, regenerative agriculture, repair services, material innovation, upcycling, and AI technology.
“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,” says Daveu about Kering’s new action plan.
Kering is set to have its full EP&L available on March 22, 2023, and is genuinely crafting tomorrow's luxury, which starts with caring for the people and environment surrounding it. With their fashion and jewelry houses joining forces, Kering will fashion the future.
-As always, elevate your wardrobe with respected fashion and embrace the shift in style
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