Kering, the owner of luxury brands like Gucci and Yves Saint Laurent, has announced plans to cut its absolute greenhouse gas emissions by 40% by 2035 compared to 2021 levels.

This move comes as consumers are increasingly demanding that companies take more responsibility for their environmental impact. "I am convinced that impact reduction in absolute terms combined with value creation must be the next horizon for truly sustainable companies," said Chairman and CEO Francois-Henri Pinault in a statement.

Kering also owns the Balenciaga, Bottega Veneta, and Alexander McQueen brands and has positioned itself as an industry leader on environmental issues, regularly publishing an environmental profit and loss account. In 2019, Pinault brought together several international labels to sign the Fashion Pact, which included commitments to reduce emissions and plastic use.

The announcement of this target was made during an event held in New York, and Kering plans to release its 2020-2023 sustainability progress report soon.