Kering publish first Environmental Profit and Loss report
Pushing for change
Sustainability is a hot topic in the fashion industry and Kering is continuing to prove that it is committed and invested in the cause. As such, the group has presented its first ever Environmental Profit & Loss report, derived from information from 2013. PricewaterhouseCoopers helped Kering to collect statistics from more than 1,000 suppliers in 126 countries, covering every stage of the production process, from cattle farming to stitching and everything in between. The aim is to help furnish the major fashion group, and indeed the industry with vital information that can help improve practices in the future.
The final report lays out a monetary ranking in Euros to companies, with lower numbers reflecting better environmental practices. In the grand scheme, Kering performed well in the report, coming out with an environmental impact that was 40 percent less than expected for a company of its size. As revealed by Buro 24/7 Middle East in our look at Kering boss, François-Henri Pinault's, thoughts on sustainability, one of the factors responsible for this was leather-tanning technology used by Gucci and Bottega Veneta that reduces heavy-metal output. Other factors included its purchase of sustainably mined gold from Peru and its ongoing focus on creating environmentally sustainable retail spaces.
Pinault hopes that in sharing this report he can encourage other companies, even Kering rivals, to adopt better practice: "Just Kering, per se, we won't be able to change supply chains as much as is needed. This is why sharing our methodology, sharing our way of thinking, as Marie-Claire [Daveau, Kering's chief sustainability officer and head of international institutional affairs] mentioned-most of our suppliers are working with many companies like us, so by joining forces and seeing things in the same way, we'll be much more stronger to be able to change those practices."