Gucci Scores Big On Environmental Reduction Targets
Gucci’s recently released its first Equilibrium Impact Report and an…
Gucci’s recently released its first Equilibrium Impact Report and an Environmental Profit & Loss account for 2020, summarizing its performance in generating positive change for people and the planet. The key takeaway is that the Italian luxury fashion house surpassed its 2025 reduction target four years ahead of time by achieving a 44% reduction of total environmental impact and a 47% decrease in greenhouse gas emissions.
Other important indicators include an impressive 93% use of renewable energy consumption worldwide (stores, offices, warehouses, Gucci-owned factories) in 2020 against a 100% target by 2022, and 95% overall traceability of the raw materials it uses in manufacturing worldwide. Compared to its 2019 EP&L results, in 2020, Gucci reduced the total environmental impacts in its direct operations and across its supply chain by 9% and decreased greenhouse gas emissions by 17%, relative to growth.
The report is essential from the point of view that fashion and apparel companies have traditionally been significant contributors to environmental problems around the world. Gucci has been at the forefront of addressing this issue over the last decade. Its Corporate Sustainability & Responsibility policy released a few years ago talks about the necessity to sustain and promote a business growth model that combines craftsmanship with the creation of a ‘Sustainable Value’ within the company and along the supply chain, taking into account the social, environmental and economic interests of all stakeholders, and in compliance with all international conventions and UN sustainability goals. As part of this policy, the company has been carbon neutral since 2018. It offsets all residual emissions generated by its activities and its supply chain annually through global eco-friendly projects.
The Equilibrium Impact Report is part of Gucci’s effort to measure the `Sustainable Value’ it creates annually. Says Marco Bizzarri, Gucci’s President and CEO, “Our inaugural Gucci Equilibrium Impact Report illustrates our actions and commitments to be inclusive, sustainable, responsible and accountable in everything we do. We have surpassed our target to reduce our total footprint four years early, an achievement that underlines our commitment to transformative change. It is our mission to be part of the solution for a better tomorrow, and we will continue to build authentic value across our business and in the wider world – value for people, value for climate and value for nature.”
Other critical environment-related takeaways from the report include:
- Gucci is Carbon neutral in scopes 1,2, and 3 of the Greenhouse Gas Protocol since 2018.
- Explored circular business models and created the first circular collection, ‘Gucci Off The Grid’ under Gucci Circular Lines.
- Launched new eco-friendly Green Packaging for stores and online.
- Achieved ISO 20121 sustainability certification for events, including fashion shows.
- Invested in the protection and restoration of over 1.9m hectares of forests, mangroves and biodiversity.
- Introduced Gucci’s Natural Climate Solutions Portfolio, including investments in regenerative agriculture.
- Partnered with The Lion’s Share Fund to protect endangered wildlife and habitats.