Environmental objectives of luxury groups: Who is aiming for what?

By 2040, Chanel is expected to achieve net-zero greenhouse gas emissions across its entire value chain. With this goal, the company aligns itself with the Paris Agreement signed in 2015, which aims in particular to keep global warming well below 2°C compared to pre-industrial levels by 2100. But what about the other luxury giants? FashionUnited takes stock of the environmental objectives of six of the world's largest luxury groups.

Chanel to eliminate all its GHGs by 2040

The Chanel group is committed to achieving net-zero greenhouse gas (GHG) emissions across its entire value chain (from the creation to the sale of its products) by 2040. To do this, the company will reduce its GHGs by 90 percent compared to 2021 and offset these remaining emissions through carbon removals.

In the shorter term, by 2030, the company also plans to reduce its scope 1 and 2 emissions by half and by 42 percent for scope 3.

Kering to reduce its GHGs to zero by 2050

The parent company of Gucci and Saint Laurent, among others, intends to reduce its greenhouse gas emissions to zero across its entire value chain by 2050 (minus 90 percent compared to 2022 and compensation).

In the short term (by 2033), Kering will reduce the total amount of direct and indirect emissions related to energy (scopes 1 and 2) by more than half (54.6 percent), compared to 2022. The group is also committed to reducing its absolute GHG emissions for scope 3 by 54.6 percent within the same timeframe.

LVMH's short-term focus on scopes 1 and 2

The commitments of the number one luxury group appear less ambitious than those of Kering and Chanel. LVMH has pledged to reduce absolute GHG emissions from scopes 1 and 2 by 50 percent by 2026, compared to 2019. By the same year, the group also plans to increase its annual supply of renewable electricity by 100 percent.

In addition, within 5 years, LVMH is committed to reducing GHG emissions from scope 3 by 55 percent per million euros of added value, compared to the base year 2019. This means that if the group's value continues to increase, its total scope 3 emissions could still be higher than in 2019, even if they have managed to reduce by 55 percent.

Richemont's modest ambitions for 2030

By 2030, the parent company of Chloé, Alaïa and Cartier, is committed to reducing absolute GHG emissions from scopes 1 and 2 by 46 percent compared to 2019. The group also plans to reduce GHG emissions from scope 3 from goods and services purchased and business travel by 55 percent per dollar of added value by 2030, compared to the base year 2019.

For 2025, Richemont had also pledged to increase its annual supply of renewable electricity by 100 percent. The group stated in a report that 97 percent of the electricity consumed by the group in 2023 came from renewable energy.

Prada Group eyes low objectives

Within a year, in 2026, the Prada group will have had to reduce its absolute GHG emissions from scopes 1 and 2 by 29.4 percent, compared to the base year 2019. In 4 years, in 2029, the Italian group is committed to reducing its absolute scope 3 GHG emissions by 42 percent, compared to the base year 2019.

Hermès reduces scopes 1 and 2 by half

The French group is committed to reducing its absolute GHG emissions from scopes 1 and 2 by more than half (50.4 percent) by 2030 compared to 2018. Regarding scope 3, Hermès is expected to reduce its GHG emissions by 58.1 percent per million euros of added value within 5 years (in 2030).

Like the Richemont group, Hermès has also pledged to increase its annual supply of renewable electricity by 100 percent by the end of 2025. In 2030, the group aims for 100 percent renewable energy supply.