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WWF has published the first ever report analysing how luxury brands are meeting their environmentally and social responsibilities -- and they’re not all that impressed.
In Deeper Luxury, published today, WWF sum up that despite growing consumer desire and pressure for sustainability, the luxury products industry has been "slow to recognise their responsibilities and opportunities".
And of course where there's luxury and extravagance, celebs are found. So WWF has taken the opportunity to also call on celebrities to endorse eco-brands, offering advice on doing so in a special 'star charter'.
"The world of celebrity leads by example and generates an aspirational desire for branded products. These stars have the responsibility to make sure that the brands they are endorsing are not damaging the planet. Let's face it, who wants to pay extra for a dirty brand?" said Anthony Kleanthous, Senior Policy Adviser for WWF-UK.
WWF's list of concerns the luxury goods industry faces is not pretty reading: issues of human rights, conflict, corruption, labour rights, and environmental degradation throughout their supply chains, as well the trade in wildlife all make an appearance.
As part of the report, WWF has analysed and ranked the ten largest luxury brand-owning companies from A+ to F in terms of how they are performing in environmental, social and governance (ESG). The fact that L’Oreal is top of the rankings with a lowly C+ doesn’t inspire much confidence, in fact many of the other brands such as Swatch and Bulgari don't even get a pass grade.
So why are WWF specifically targeting luxury goods? Well a lot of it is to do with the influence these brands have -- the luxury business is worth about £77 billion every year. But it’s also because of more general worries about over consumption. WWF say "in recent years, the consequences of consumption, including climate change and water shortages, have begun to pose a direct threat to ecosystems."
They also cite some brands making successful steps toward greater sustainability -- there’s the famous Anya Hindmarch 'I’m NOT a plastic bag' designer shopping bag which people went wild over across the UK -- and Asia too apparently. Although, as the report notes, authenticity is crucial -- i.e. don’t wrap your reusable bags in the same plastic bags you’re rubbishing.
Photo: WWF
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