Kering’s announces this an extension of its annual offsetting approach that has been established since 2011 and initially incorporated Scopes 1 and 2 of the Greenhouse Gas Protocol. Since then, Kering has been leveraging its Environmental Profit and Loss (EP&L) accounting to analyse the Group’s GHG emissions up to the base of the supply chain, where raw materials are created.

According to the group this comprehensive data has enabled them to put in place customized supply chain initiatives and efficiency programs to effectively avoid and reduce emissions. Furthermore, Kering set a Science-Based Target (approved by the SBT initiative) to reduce all its GHG emissions related to its own operations and supply chain by 50% by 2025 (from a 2015 baseline).
 
The group underlined that efforts to avoid and reduce its footprint across the supply chain will continue to be focused on as a priority, and while that takes place Kering will offset all the remaining annual emissions in Scope 3 of the GHG Protocol. For 2018, and as published in the EP&L results, the total remaining GHG emissions offset for the group will be approximately 2.4 million tons  CO2E. Offsetting will continue to be accomplished through verified best-in-class REDD+ projects that conserve critical forests and biodiversity, and support the livelihoods of local communities.

Kering says it is prioritising the conservation of biodiversity and that is the reason why in 2018 offsets will equal nearly 2 million hectares of important forests around the world. Forests act as a carbon sink and the protection of these forests will support the removal of carbon from the atmosphere and help mitigate climate change. 
 
“When it comes to climate change, we can no longer wait to take real action. We all need to step up as businesses and account for the GHG emissions that we generate in total. Kering is committing to become completely carbon neutral as a Group across all our operations and supply chains. While we focus on avoiding and reducing our GHG emissions to meet our Science-Based Target, we will offset all our remaining emissions and support the conservation of vital forests and biodiversity around the world,” said François-Henri Pinault, Chairman and CEO of Kering.