Tuesday, June 30, 2020
Kering publishes Biodiversity Strategy and sets biodiversity targets
• Kering commits to a net positive impact on biodiversity by 2025 • Kering launches regenerative agriculture fund for 1 million hectares of land • Digital Masterclass on biodiversity with Kering, Global Fashion Agenda and Conservation International at 3PM CET, 1 July
Today, for the first time, Kering has published a dedicated biodiversity strategy with a series of new targets to achieve a “net positive” impact on biodiversity by 2025, which included launching the Kering for Nature Fund to support the fashion industry’s transition to regenerative agriculture. Kering and the Global Fashion Agenda will also co-host a digital Masterclass on the importance of integrating biodiversity into the core of business operations, with additional expertise from Conservation International, today July 1st, 2020 at 3PM CET/2PM BST/6AM PST/8AM CST.
Aligned with its long-term commitment to sustainability, Kering’s biodiversity strategy outlines steps to not only minimize biodiversity loss across the Group’s global supply chains, but also support nature and create net positive conservation. The strategy encourages the prevention of biodiversity degradation, the promotion of sustainable and regenerative farming practices favoring soil health, and the protection of global ecosystems and forests that are vital for carbon sequestration. Alongside its previous environmental commitments, Kering has set up new biodiversity targets, including three overarching goals:
• Kering commits to have a net positive impact on biodiversity by 2025, by regenerating and protecting an area around six times the total land footprint of Kering’s entire supply chain, all the way back to raw material production, within this timeframe.
• Kering will convert 1 million hectares of farms and rangelands in its supply chain landscapes into regenerative agriculture by 2025.
• Kering will protect an additional 1 million hectares of critical, ‘irreplaceable’ habitat outside of its supply chain by 2025, through programs that support biodiversity protection, carbon sequestration and livelihood improvements.
In addition to these commitments, Kering’s biodiversity strategy includes a number of new, specific targets around sourcing and operations that work together to protect biodiversity in the Group’s supply chain.
“Thriving biodiversity is intrinsically linked to the long-term viability of our industry, and society more broadly. Integrating a dedicated biodiversity strategy – which is now part of our wider sustainability strategy – into Kering’s day-to-day operations is pivotal for our contribution to bending the curve on biodiversity loss over the next years,” said Marie-Claire Daveu, Chief Sustainability Officer and Head of international institutional affairs, Kering. “Business has a serious role to play in shifting towards a “nature-positive” economy and ahead of the establishment of the Global Goals for biodiversity in 2021, it is important that Kering’s strategy aligns with the scientific community so that we are already on the right path and taking the actions that are urgently needed.”
To support the implementation of its biodiversity strategy, Kering also launched the “Kering for Nature Fund: 1 Million Hectares for the Planet” today, in partnership with Conservation International. The Fund will assist promising regenerative agriculture projects around the world, with the aim of bringing one million hectares of land under regenerative practices. The Fund will focus on raw materials with the highest environmental impacts such as leather, cotton, cashmere and wool, as indicated by Kering’s Environmental Profit and Loss analysis. The ultimate goal of the Fund is to help transform raw material production in the fashion industry, and drive a shift towards farming practices that operate in harmony with natural ecosystems.
Kering’s strategy draws on best available science, and builds on the foundation of its previous biodiversity-focused work. These ongoing initiatives compliment the strategy, and will help propel Kering on its trajectory to attain a net positive impact on biodiversity by 2025. Key initiatives include:
• Supporting the development of Science-Based Targets (SBT) for biodiversity, in close partnership with the Science-Based Targets Network, and aligning sourcing decisions to the Science-Based Targets framework.
• Developing a number of regenerative projects, such as the program already in place in Mongolia connected to Kering’s cashmere supply chain, which is implemented in partnership with the Wildlife Conservation Society.
• Partnering with the Savory Institute to promote the regenerative production of raw materials in Kering’s leather and fiber supply chains that come from grazing systems, such as wool and cashmere.
• Collaborating with peers through The Fashion Pact to identify concrete actions to prevent future biodiversity loss at an industry level, and develop ways to measure impacts on key species and ecosystems.
• Developing a “primer” with the Cambridge Institute for Sustainability Leadership (CISL) and consultancy Biodiversify on how fashion companies can build a biodiversity strategy and transform their relationship with nature.
• Working closely with organizations at the forefront of biodiversity conservation and science, such as Kering’s partnership with The Intergovernmental Platform on Biodiversity and Ecosystem Services (IPBES) to support all areas of its work to strengthen the science-based framework for better-informed decisions about nature.
• Supporting The Explorers, a global media platform building a rich catalog of Earth’s natural assets for awareness and protection.
• Collaborating with different sectors that influence Kering’s supply chain, such as the food industry through “One Planet Business for Biodiversity”, to identify cross-company projects in regenerative agriculture.
A global Luxury group, Kering manages the development of a series of renowned Houses in Fashion, Leather Goods, Jewelry and Watches: Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, Brioni, Boucheron, Pomellato, DoDo, Qeelin, Ulysse Nardin, Girard-Perregaux, as well as Kering Eyewear. By placing creativity at the heart of its strategy, Kering enables its Houses to set new limits in terms of their creative expression while crafting tomorrow’s Luxury in a sustainable and responsible way. We capture these beliefs in our signature: “Empowering Imagination”. In 2019, Kering had over 38,000 employees and revenue of €15.9 billion.
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