In a short span of five or six years, CHANEL embraced CSR (corporate social responsibility) and ESG (environmental, social, governance) initiatives that stretched far beyond its established comfort zone of artistic direction and creative output. The progression of these initiatives culminated in March 2020, when the company launched CHANEL Mission 1.5°, a strategy for embarking on a decarbonization journey across the business as well as the value chain. In keeping with the timeframe of the United Nations Sustainable Development Goals (SDGs), the “1.5°” represented the commitment to help limit average global mean temperature increases to 1.5 degrees Celsius above pre-industrial levels. Entering the 2020s, Global CFO Philippe Blondiaux felt confident that CHANEL was primed to execute on its vision and usher in a “decade of delivery” in sustainability. The Group was about to transform every aspect of its business; help its partners do the same; innovate at every point in the value chain; and support change beyond its own operational footprint. Yet a host of challenges loomed on the road ahead: (1) Could an industrial group that was highly decentralized continue to spearhead initiatives and shape an integrated sustainability strategy? (2) In addition to creating a cultural glue and a shared sense of inspiration and purpose, could accountability trickle all the way down the organization with a worldwide workforce of nearly 28,000? (3) In the long term, was the company in a position to live up to the commitments it had encapsulated in the CHANEL Mission 1.5° document, and was there sufficient clarity on what the sustainability push would mean in the long run for CHANEL, as a luxury brand, as we know it?
Chanel Global CFO and IMD Executive in Residence Philippe Blondiaux explains how finance leaders can sustain a long-term focus on sustainability while addressing short-term challenges.
As AI continues to reshape industries, businesses must navigate the balance between automation and human contribution. How can AI can drive sustainability while empowering both employers and employees through data collaboration, energy optimizatio...
More than simply a compliance exercise, sustainability reporting regulations offer a chance to develop and strengthen your business, says IMD’s Salvatore Cantale
More than simply a compliance exercise, sustainability reporting regulations offer a chance to develop and strengthen your business, says IMD’s Salvatore Cantale
Leaders, strategists, and decision-makers can play a pivotal role in integrating sustainability into business strategies – and make money in the process. Knut Haanaes, Bryony Jansen van Tuyll, and Øystein D. Fjeldstad outline five steps to make it...
AI can enhance sustainability reporting and help you deepen green efforts – but it also has an environmental impact of its own. Julia Binder and José Parra Moyano identify the four ‘hows’ of harnessing AI for enhanced sustainability reporting and ...
Gone are the days of the loyal company man or woman. Today’s workforce often includes a mix of freelancers, agency temps, and outside contractors. Here are four work models to keep these disparate elements happy and motivated.
Are you struggling to lead successfully in the face of relentless disruption and uncertainty? Now’s the time to master the art of strategic thinking, starting with these six key skills.
Artificial intelligence (AI) is widely recognized as a driver of productivity, while sustainability, despite its benefits to the environment, is often seen as a cost burden. When combined, however, we believe they form a powerful synergy that can ...
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Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications