Kering and L’Occitane Create €300M Nature Fund

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Kering and L’Occitane Create €300M Nature Fund
Kering and L’Occitane Create €300M Nature Fund

Gucci’s parent company, Kering, has teamed up with L’Occitane Group to launch the Climate Fund for Nature, which will mobilize luxury and beauty companies to invest in nature conservation and restoration, especially in countries where they source their raw materials.

The two companies have committed €140m out of the target €300 million and have invited other companies to invest. The fund will be managed by Mirova, which is the sustainability division of Paris-based Natixis Investment Managers, starting in the first quarter of 2023.

“The Climate Fund for Nature provides an opportunity for the Luxury Fashion and Beauty sectors to collectively support biodiversity restoration and conservation at scale,” said Kering’s Chief Sustainability and Institutional Affairs Officer, Marie-Claire Daveu.

"Kering is proud to collaborate with Mirova and we welcome the fund's first partner L'occitane Group. Innovative financing mechanisms are crucial to channel much-needed investment into nature-based solutions if we are to reverse biodiversity decline by 2030 and simultaneously address climate change, which is intrinsically interlinked with nature. We entreat further companies to join this ambitious initiative to contribute to a nature-positive future."

In addition to focusing on nature conservation and restoration, the fund will help farmers embrace regenerative agriculture practices and support women’s empowerment.

The launch of the fund comes at a time when there’s a dearth of funding for nature conservation-focused solutions. Research shows that investment in such solutions needs to triple by 2030 and reach fourfold by 2050, equating to roughly $647 billion annually and $10 trillion in total.

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