October 26, 2017
French luxury goods conglomerate Kering has been recognized as a climate change leader by CDP’s annual “Climate A List” ranking.
Kering is included among 5 percent of companies participating in the CDP’s climate change program to be featured on the Climate A List ranking, and has been awarded an A-grade. Kering is an outspoken supporter of sustainability, from its supply chains to products and the in-store environment to educational efforts, the conglomerate is often recognized for its green approach to luxury.
An easy A
The Climate A List is organized annually by CDP, an international nonprofit that encourages companies and governments to reduce greenhouse gas emissions and protect water resources and forests. CDP created the Climate A List at the request of 827 investors with assets of more than $100 trillion.
The CDP’s Climate A List includes companies from all over the world that have been identified as demonstrating a superior approach to combating climate change.
Only 112 of the 2,418 companies to submit information for CDP’s review have received an A score. Kering is included in the 112 companies due to its actions to reduce emissions, mitigate climate risks and develop a low-carbon economy.
The French conglomerate’s Environmental Profit and Loss (EP&L) serves as Kering’s “cornerstone of its climate strategy.” The EP&L accounting method determines the most-effective sourcing strategy to minimize Kering’s carbon emissions, while also reducing climate risks related to raw materials.
Kering’s EP&L method has also been used as a teaching tool to educate young designers on how to be sustainable during design and manufacturing processes. Doing so will ensure the next generation of creatives are aware of fashion’s environmental impacts (see story).
Kering's My EP&L app is used by students at Parsons School of Design in New York. Image credit: Kering
“To be included in CDP’s 2017 Climate A List illustrates another aspect of Kering’s sustainability leadership,” said Marie-Claire Daveu, chief sustainability officer and head of international institutional affairs at Kering, in a statement.
“Even though we have a broad-based and holistic strategy in place and Kering is innovating in many areas to drive sustainability uptake, we are still focused on the fundamentals,” she said. “We are continually working to reduce our carbon footprint and taking actions to combat climate change.
“Going even further, we have set science-based targets within our 2025 sustainability strategy to guide us to do so, while we pursue our progressive sustainability targets overall.”
In September, for the third year running, Kering was named the most-sustainable company in the luxury sector by the Dow Jones Sustainability Index (DJSI).
The DJSI recognizes brands that are leaders for their overall environmental and social performance and is considered a leading benchmark for corporate sustainability (see story).