By Joshua Kirby

 

Kering will work to reduce its greenhouse-gas emissions on absolute basis by 40% over the next 12 years, as the luxury group looks to decarbonize its business and ensure its sustainability.

The new target is to reduce absolute emissions over the French group's scope 1, 2 and 3 emissions--that is, over its entire supply chain as well as in direct operations. It follows a previous target to reduce emissions by 50% between 2015 and 2025, alongside an offsetting program that aims to ensure full carbon neutrality.

Kering and its luxury-goods houses, which include Gucci, Balenciaga and Yves Saint Laurent, need to move to absolute reductions in emissions opposed to reduced intensity--if they are to decarbonize globally, Chief Executive Francois-Henri Pinault said.

"I am convinced that impact reduction in absolute terms combined with value creation must be the next horizon for truly sustainable companies," Mr. Pinault said.

The target comes ahead of the publication of Kering's sustainability progress report for the years 2020-2023 next week.

"When our sustainability targets are in sight, we move the benchmark even further away," said Marie-Claire Daveu, Kering's chief sustainability officer.

 

Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby

 

(END) Dow Jones Newswires

March 17, 2023 10:05 ET (14:05 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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