Kering Collaborates with L'Occitane to Create the Climate Fund for Nature

Kering Group and L'Occitane Group, during the 15th Convention of the Parties (COP15) to the Convention on Biological Diversity in Montreal, Canada, announced the establishment of the Climate Fund for Nature. The fund aims to protect and restore nature and biodiversity, with a particular focus on empowering women. It is set to commence operations in the first quarter of 2023 and will mobilize resources from the luxury and beauty industries for nature conservation and restoration.

Currently targeting a goal size of 300 million euros, 140 million euros have already been committed to the fund. The Climate Fund for Nature will continue to open its doors to new partner companies to expand their positive impact on nature. The fund will be managed by Mirova, a subsidiary of Natixis Investment Managers, which is entirely dedicated to sustainable investments.

ConCall:

While Kering Group and L'Occitane are not direct competitors, their collaboration in a specific business area demonstrates a rare instance of competitors coming together to work towards environmental goals. This reflects a new approach in the current fashion industry, where companies are choosing to collaborate on sustainability rather than compete. 

In addition to Kering Group, Prada, Zegna, LVMH, L'Oréal, and other fashion luxury conglomerates have initiated various forms of collaboration on sustainability topics. Protecting the environment and facilitating the green transformation of industries is a long-term and resource-intensive endeavor, and the industry is recognizing the value of collective efforts in achieving common goals.