It was only last month that luxury conglomerate Kering scooped the Forum for Responsible Investment (FIR) Prize for its socially responsible practices. Today it built on that - announcing at its annual general meeting the publication of a comprehensive report detailing the progression of its sustainable targets.
"As a business we need to be smart, adaptive, innovative and sustainable to understand our risks and continue to seek out opportunities to succeed in the future," said Kering chairman and CEO Francois-Henri Pinault. "Two years ago we set clear goals to reach by 2016 and I am pleased with the progress we have made in implementing internal actions and establishing industry collaborations to help address our main challenges."
"All our targets are important but some are especially ambitious: indeed, it is only by setting visionary goals and milestones that we will challenge ourselves to really make changes and to drive more ethical, social and environmental performance across our business, our supply chains and our sector," continued Pinault.
Among the highlights of the report are the launch of the Python Conservation Partnership with the International Trade Centre; the creation of the Kering Materials Innovation Lab with a comprehensive library of sustainable materials and a team of technical experts to highlight innovation in fabric manufacturing; and new leather traceability systems.