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Kering Group, has launched its Environmental Profit and Loss report, tracking the company’s environmental footprint. H&M recently released its own analysis on its environmental footprint and the steps it is taking to minimise its impact in a recent trend from brands and retailers to lower their environmental impact.
“Three quarters of the total impacts are at the start of the supply chain, with half the impacts associated with raw material production and a further quarter of the images associated with raw material processing including leather making, refining metals and textile spinning,” says the report. This document measures the environmental impact in dollars and cents, as a “new way of estimating the cost to society of the changes in the environment as a result of our business activities and those of the whole of our supply chain,” the company says. “In contrast to financial accounting, there are currently no established and agreed standards for estimating this value.”
The report revealed that Kering had about $861.6 million dollars of impact on the environment in 2013. Kering claim that half of its impact lies in the production of its raw materials such as leather and wool.
Kering also outlined what it is trying to do to decrease its impact. The report also mentions vertical integration, noting that the company has already purchased four tanneries so that they can have more control regarding the environmental cost of making leather. Kering has also adopted tanning methods that reduce energy use by 20% and water use by 30% says the report. The report is aiming to position Kering as a leader in attempting to create a more sustainable presence in the luxury markets. By joining forces with environmentally-minded groups that are working to decrease the impact clothing production has on the world, it seems Kering is really committed to making its environmental footprint smaller.
Kering Group brands include Gucci, Bottega Veneta, Puma, Yves Saint Laurent, Balenciaga, Sergio Rossi, Brioni and Alexander McQueen.