Coal-fired power plants produce almost 40% of global electricity today, making carbon pollution from coal a leading contributor to climate change. Kering, a strategic partner of Global Fashion Agenda, has joined the Powering Past Coal Alliance, a coalition uniting governments, businesses and organisations to accelerate clean growth and climate protection through the rapid phase-out of traditional coal power.
Under the Alliance, Kering commits to powering its operations without coal and to supporting clean power through corporate policies, in order to restrict the financing of traditional coal power without carbon capture and storage.
Two years after the groundbreaking adoption of the Paris Agreement, Kering and the other 53 companies that have signed the International Business Declaration call for framework conditions to accelerate climate action.
The goal is to lay the foundation for a pathway towards limiting the rise of global temperatures to well below 2° Celsius, allowing active contributions to the implementation of the Paris Agreement. Measures include a phase out of fossil fuel subsidies by 2025, an adequate price on carbon and clarity on climate-related financial risks.
Read more about Kering’s actions against climate change by joining the Powering Past Coal Alliance and signing the International Business Declaration.