Gucci parent company Kering has been recognized for its sustainability. Image credit: Gucci
Conglomerate Kering has been named the second most sustainable company in the world in the Corporate Knights’ Global 100 Index.
For the second year in a row, Kering placed at the top of the rankings for luxury and apparel and accessories. Joining Kering in the top 100 were Tesla and L'Oreal.
Sustainability benchmark
Corporate Knights’ 2019 Global 100 Index was announced during the World Economic Forum in Davos, Switzerland.
The rankings evaluate about 7,500 companies from around the globe with at least $1 billion in revenues. Corporate Knights looks at 21 key performance indicators across resource management, employee management, financial management, clean revenue and supplier performance.
Kering came in second on the list, following Danish bioscience company Chr. Hansen, with a score of 81.55 percent.
“The Corporate Knights’ Global 100 Index stands as a barometer for corporate sustainability and we are proud to be recognized as the most sustainable company in the luxury sector and in apparel and accessories,” said Marie-Claire Daveu, chief sustainability officer and head of international institutional affairs at Kering, in a statement. “We are also pleased to have placed second across all industries.
“This reflects our dedication and perseverance to embed sustainability best practices across our business activities and it also acts as a ‘proof of concept’ that a business can achieve financial success while delivering positive social and environmental outcomes,” she said.
Tesla's Model 3 sedan. Image credit: Tesla
Tesla placed 69th with a score of 61.28 percent, while L’Oreal came in at 98 with a score of 40.54 percent.
As more consumers become concerned with the health of the planet and additional scientific discoveries about environmental risks are made, sustainability in luxury and business as a whole is no longer optional.
During two panel sessions during Positive Week produced by Positive Luxury moderated by WWD London bureau chief Samantha Conti, the panelists stressed the importance of meeting consumers’ demands in luxury, which means sustainability (see story).