Gucci details sustainability progress in new report
Gucci has published its 2023 Equilibrium Impact Report, detailing the company's progress on its sustainability and social responsibility goals. The release reinforces the brand's dual narrative of creative expression and corporate responsibility. This highlights the increasing importance for luxury brands to integrate ESG storytelling into their core communications.
- Gucci has set a target to reduce its total greenhouse gas emissions by 40% by 2035 and reported a 7% reduction in absolute emissions across all scopes between 2021 and 2023. Since 2015, the company has achieved a 78% reduction in emissions from its own operations (scopes 1 and 2). - The brand is advancing its use of sustainable materials, with 74% of its cotton being organic or recycled and 75% of its viscose being recycled or responsibly sourced in 2023. Additionally, 100% of the precious metals it uses are responsibly sourced. - In 2023, Gucci launched the "Circular Hub" in Tuscany, Italy, an innovation platform focused on designing and manufacturing circular products by maximizing recycled materials, durability, and recyclability. This initiative, supported by parent company Kering, involves Gucci's extensive network of over 700 direct suppliers and 3,500 sub-suppliers. - The company's circular economy efforts were recognized with the Ellen MacArthur Foundation Award at the 2023 CNMI Sustainable Fashion Awards for its Denim Project, which uses regenerative cotton and recycled fibers. - On the social front, Gucci became the first Italian luxury house to be certified for gender parity in 2023. Women make up 63.4% of the company's overall workforce and 57% of its management positions. - Through its Gucci Changemakers Volunteering Program, employees contributed over 21,000 hours to various non-governmental organizations in 2023. The associated Changemakers Impact Fund distributed nearly $1 million in grants the same year to promote inclusion and diversity in the fashion industry. - Parent company Kering has set a broader sustainability strategy that includes a 50% reduction in carbon emissions and a 40% reduction in overall environmental impact by 2025. Kering also aims to achieve a net positive impact on water by 2050 through a new water stewardship strategy. - While Gucci has claimed carbon neutrality since 2018 through offsetting investments in forest protection and regenerative agriculture, the effectiveness of these offsets has faced scrutiny. The company acknowledges that offsetting is a parallel measure to reducing emissions at their source.
