Carbon Neutral Challenge: Gucci’s trailblazing project

Carbon Neutral Challenge

Following Climate Week NYC 2019, Gucci CEO Marco Bizzarri issued an open letter to his fellow colleagues encouraging them to urgently implement significant actions to reduce their companies’ CO2 emissions in the short term.

The challenge

The core issue of Bizzarri’s consideration is corporate accountability: far from being a matter of mere administration, corporate accountability should be intended as a question of ethics.(an ethics’s question)

According to the CEO, companies from all sectors should take upon themselves the critical challenge of tackling global climate crises by finding and implementing effective solutions.

With reference to NY Climate Week and UN Climate Action Summit, Gucci’s CEO stressed that companies are called upon to make strong commitments such as aligning with the Paris Agreement to deliver “rapid and concrete positive impacts” immediately.

Possible solutions

Aiming to reduce a company’s greenhouse gas emissions over the next decade is not enough anymore: CEOs all around the world are challenged to immediately start to offset their carbon footprint through nature-based solutions (e.g. REDD+, Reducing Emissions from Deforestation and Forest Degradation).

Since a large part of GHG emissions are related to day-to-day business activities, corporate carbon neutrality should embrace the whole supply chain.

As a solution to address these issues immediately, the companies that join the CEO Carbon Neutral Challenge are required to adopt an annual strategy to avoid, reduce, restore, and finally offset the total remaining emissions within their operations and across the entire supply chain by implementing nature-based solutions.

Guiding Principles

In order to take part in the CEO Carbon Neutral Challenge, companies need to adhere to the six guiding principles summarised (summarized) below:

1. Companies must account for their entire GHG emissions and immediately take action

2. Companies must accept an internationally recognized objective measurement of their GHG emissions that encompasses the whole supply chain

3. Companies must have a publicly declared timeline and a transparent plan of action

4. Companies must implement verified and certified nature-based solutions in order to mitigate and offset the near-term unavoidable GHG emissions associated with their business activities

5. Companies must commit to providing annual reporting on the impact and outcomes of their offsetting projects

6. Companies must commit to collaborate with stakeholders to raise awareness and outreach to other CEOs to join the CEO Carbon Neutral Challenge

Why now?

Marco Bizzarri pointed out that there is no time for long-term good resolutions. Simply reducing our carbon footprint is not enough to buy time: companies from all sectors have the mission of tackling sustainability challenges we are all facing.

For this reason, Gucci is inviting CEOs all around the world to come together in the CEO Carbon Neutral Challenge. Collective action is crucial, and we still have a chance to “create a future in which society can thrive and business can succeed, while nature is restored and protected.”

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The ID Factory team blog

The ID Factory team blog

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