Luxury Brands Earn Average Or Worse Grades On Environmental Report Card
A report (PDF) launched by WWF , called “Deeper Luxury,” examines the environmental and social record of some of the world’s top brands, including L’Oréal, Hermès, Tods, Tiffany & Co and Swatch.
The report ranks them according to heir own sustainability reporting, as well as the way they have been judged in the media and by nongovernmental organizations. This is the first time, according to WWF, that anyone has conducted such an analysis. None of the holding companies scored well.
The information was scored, weighted and combined to create a score out of 100, expressed as a grade from A (best) to F (worst).
No company earned better than a grade C+. French group, L’Oréal, topped the ranking, and Italian group Tod’s came tenth. As reported by themselves and others, the ESG policies and performance of luxury brands is inferior to that of many other consumer products brands.
A follow up press release to the report has been issued, looking at the media reaction to the report card.
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