Kering and L’Occitane Create €300M Nature Fund

Kering and L’Occitane Create €300M Nature Fund

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

Retail Bum

Retail Bum

Retail Bum

Share

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.

MUST READS
How Shipium and Quiet Platforms Are Looking To Simplify e-Commerce Logistics

How Shipium and Quiet Platforms Are Simplifying eCommerce Logistics

E-commerce shipping platform Shipium has tapped a collaborative commerce network for brands and retailers called Quiet Platforms to improve the flexibility and performance of supply chains. Shipium’s solution addresses problems associated with offering fast, affordable and on-time delivery, which often arise from the use of

Crate and Barrel Appoints Nike Veteran as COO

Crate and Barrel has appointed Nike executive Mike Brewer as its chief operating officer. Brewer brings 20 years of experience working for Nike, having served in several roles focusing on sourcing, manufacturing, and supply chain. He most recently served as the company’s global sourcing and

Paco Rabanne, the Metallurgist of Fashion, Dies at 88

Paco Rabanne, the Metallurgist of Fashion, Dies at 88

Celebrated fashion designer Paco Rabanne passed away at the age of 88 on Friday. Rabanne, known for his perfumes and metallic, space-age designs, is remembered as a rebel designer who was once frowned upon for his criticism of haute couture in Europe but applauded at

No more posts to show, explore other topics: