Kering first luxury firm to get green light from UN's SBT initiative

A global luxury group Kering has been verified and approved by Science Based Target (SBT) initiative as the first luxury firm to create science-based goals by reducing carbon footprint. SBT was formed by Carbon Disclosure Project, UN Global Compact, World Resources Institute and WWF to help firms establish greenhouse gas (GHG) emission reduction targets.

SBT initiative helps companies to be a part of the movement that ensures that global warming does not exceed 2°C by 2050. In line with SBT’s criteria, Kering has committed to reduce their GHG emissions by 50 per cent in scope 1, scope 2 and scope 3 (transportation and distribution, business flights, and fuel and energy related emissions) by 2025.

Further, it also strives to reduce emissions from purchased goods and services by 40 per cent.

“Contributing to combating climate change and respecting planetary boundaries in the way we do business is a priority for us. The Science Based Target initiative is enabling the business community to set meaningful goals around GHG reduction to ensure that we all align with the 2°C global agenda and we are proud that our own GHG ambitions have been validated by the organisation,” said Kering’s chief sustainability officer Marie-Claire Daveu.

“Going beyond SBT criteria, we will also continue to measure and monetise carbon emissions alongside air and water pollution, water use, waste and land use across the entire supply chain all the way to where we source our raw materials via our Environmental Profit and Loss,” she added.