Friday, April 23, 2021

Kering's new ambitious Science-Based Target aligns with 1.5-degree commitment

Verified and approved by the Science Based Target initiative (SBTi), Kering has updated its previous science-based target set in 2016 to strengthen its climate ambitions and in accordance with the Fashion Pact’s mandate.

As one key component of its climate strategy, Kering is creating science-based goals around reducing its greenhouse gas (GHG) emissions in alignment with a 1.5°C pathway and will transparently share the progress made to achieve its targets on a regular basis. 

In line with SBTi’s criteria, Kering has committed to reduce its absolute GHG emissions in scopes 1 and 2 of the Greenhouse Gas Protocol by 90% by 2030, from a 2015 base year. This target covering GHG emissions from Kering’s operations (scopes 1 and 2) is consistent with reductions required to keep global warming to 1.5°C. On top of this, Kering has committed to reduce its GHG emissions from scope 3 by 70% per unit of value added by 2030, from a 2015 base year.  Furthermore, Kering has committed to increase its annual sourcing of renewable electricity from 25% in 2015 to 100% by 2022. 

The SBTi was established between CDP, the UN Global Compact, the World Resources Institute and the World Wide Fund for Nature in order to support companies in establishing GHG emissions reduction targets consistent with the latest climate science. In response to the Intergovernmental Panel on Climate Change’s Special Report on Global Warming of 1.5°C, the SBTi assesses targets submitted by companies against three temperature pathways: 2°C alignment; well below 2°C alignment; and 1.5°C alignment. Kering has committed to the most ambitious designation in the SBTi process and is dedicated to reach its climate ambitions and contribute to the decarbonization of the fashion industry.