By 2040, Chanel plans to reach greenhouse gases in his entire value chain. With this goal, the company is based on the 2015 Paris Agreement, which, among other things, aims to keep global warming up to 2100 significantly below two degrees Celsius compared to the pre -industrial level. But what about the other luxury giants? Fashionunited gives an overview of the environmental goals of six of the largest luxury companies in the world.
Chanel: Elimination of all greenhouse gas emissions by 2040
The Chanel Group has undertaken to reach a net zero emission of greenhouse gas (THG) in its entire value chain (from creation to the sale of its products). To ensure this, the company wants to reduce its THG emissions by 90 percent compared to 2021 and compensate for the remaining emissions by carbon sinks. In the short term, until 2030, the company plans to reduce its scope 1 and 2 emissions by half and its scope 3 emissions by 42 percent.
What are scopes?
Scopes correspond to the various sources of greenhouse gas emissions. SCOPE 1 includes greenhouse gas emissions (THG), which are caused directly by the company’s business, SCOPE 2 The indirect THG emissions from the energy consumption and SCOPE 3 The indirect THG emissions that arise in front or downstream in the company’s value chain and come from sources that are not in possession or under the control of the company.
Kering: Netto-Null -HG emissions by 2050
The parent company of Gucci and Saint Laurent, for example, wants to reduce its greenhouse gas emissions throughout the value chain to zero by 2050 (minus 90 percent compared to 2022 and compensation).
In the short term (until 2033), Kering wants to reduce the total amount of direct and indirect energy -related emissions (SCOPE 1 and 2) by more than half (54.6 percent) compared to 2022. The group also undertakes to reduce its absolute greenhouse gas emissions (SCOPE 3) by 54.6 percent in the same period.
LVMH: Short -term focus on Scope 1 and 2
The leading luxury group’s self -commitments appear less ambitious than that of Kering and Chanel. LVMH has undertaken to reduce its absolute greenhouse gas emissions in Scopes 1 and 2 to 2026 by 50 percent (compared to 2019). Up to this year, the group also wants to increase its annual supply of renewable energy by 100 percent. In addition, LVMH undertakes to reduce greenhouse gas emissions from SCOPE 3 by 55 percent per million euros in added value (compared to the 2019 reference year). This means that the entire SCOPE 3 emissions of the group could still be 55 percent even higher than in 2019, despite a reduction, if the value of the group continues to increase.
Richemont: moderate destinations by 2030
By 2030, the parent company of Chloé, Alaïa and Cartier undertakes to reduce the absolute greenhouse gas emissions of SCOPES 1 and 2 by 46 percent compared to 2019. In addition, the group wants to reduce the THG emissions from SCOPE 3, which arise from purchased goods and services and business trips, by 55 percent per dollar value creation (compared to the 2019 reference year). By 2025, Richemont has also undertaken to increase its annual supply of renewable energy by 100 percent. The group stated in a report that in 2023 97 percent of the electricity used would come from renewable energies.
Prada group: low destinations
By 2026, i.e. within a year, the Prada group must reduce its absolute greenhouse gas emissions of Scopes 1 and 2 by 29.4 percent (compared to the 2019 reference year). And in four years, in 2029, the Italian group undertakes to reduce its absolute greenhouse gas emissions from Scope 3 by 42 percent (compared to the 2019 reference year).
Hermès: Scope 1 and 2 halved
The French group undertakes to reduce its absolute THG emissions of Scopes 1 and 2 by 2030 by more than half (50.4 percent) compared to 2018. With regard to SCOPE 3, Hermès will reduce its greenhouse gas emissions within five years (by 2030) by 58.1 percent per million euros.
Like the Richemont Group, Hermès has undertaken to increase its annual supply of renewable energies by 100 percent by the end of 2025. By 2030, the group is aiming for 100 percent supply with renewable energies.
This article previously appeared on fashionunited.fr and was used with the help of digital tools translated.
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