Kering saw its carbon dioxide emissions hit 2.4 million metric tons last year, a 12% increase from 2021, as the company saw its sales rise by 15% during the period.
The increase in carbon footprint has prompted the brand to decouple its growth ambitions from environmental impact as performing a delicate balancing act of growing business and limiting its carbon footprint is no longer enough to meet climate goals.
“We see what is happening all over the world,” said Kering’s sustainability chief, Marie-Claire Daveu.
The company has now set a goal to cut its absolute emission levels observed in 2021 by 40% by 2035. It had previously cut its environmental footprint relative to sales by 40% between 2015 and 2021, meeting its target four years early. However, its overall footprint actually rose by 30% during the period.
“It’s very ambitious because we are also a company, and we want to continue our growth,” said Daveu. “So beyond this kind of target is a decorrelation between the growth of the business and degrowth of greenhouse gases.”
Kering’s decision to increase its decouple growth and climate goals comes at a time when global emissions are continuing to climb up. Last week, the UN released a report that warned that the earth is on track to reach catastrophic warming levels, with temperatures projected to rise by five degrees Fahrenheit by the end of the century.
“Climate change is a threat to human well-being and planetary health,” the report said. “There is a rapidly closing window of opportunity to secure a liveable and sustainable future for all.”