Hermes

Company Overview

• Hermès: A luxury goods company known for its high-quality artisanal products, including leather goods, silks, home decor, and beauty products. Hermès is committed to sustainable development and responsible practices across its operations.

• Federated Hermes: An investment management firm that provides stewardship services, including active ownership and engagement with companies on environmental, social, and governance (ESG) issues.

Sustainability and Environmental Commitments

Hermès

• Environmental Policy: Hermès has a strict environmental policy aimed at limiting the impact of its operations. This includes reducing its biodiversity footprint, implementing scientifically validated objectives, and adhering to international guidelines such as the Science-Based Targets for Nature (SBTN).
• Raw Materials: Hermès focuses on using exceptional raw materials from renewable natural sources to create long-lasting products. The company also works on finding alternatives to certain materials, such as plastics, and manages production scraps through recycling and repair.
• Supply Chain Management: Hermès controls its entire value chain with operational traceability and long-term partnerships with suppliers. It contributes to the development of demanding standards for responsible and sustainable supply chain management, including ecological, social, and societal aspects.

Federated Hermes

• Stewardship and Engagement: Federated Hermes engages with companies to improve their ESG practices. For example, they have been actively engaging with companies like BP on climate change issues, pushing for strategies consistent with the Paris Agreement goals. This includes advocating for the reduction of greenhouse gas emissions across all scopes (1, 2, and 3) and ensuring that investment processes align with climate-related risks.

Engagement with Energy and Resource Companies

• BP Engagement: Federated Hermes has been involved in a decade-long engagement with BP on climate change. They co-lead the engagement as part of Climate Action 100+, a collaborative effort by over 370 investors. The engagement has led to significant commitments from BP, including a net-zero ambition by 2050, detailed transition strategies, and market-leading disclosures on climate-related risks.

Conclusion

While there is no specific "Hermes oil project," both Hermès and Federated Hermes demonstrate strong commitments to sustainability and responsible practices. Hermès focuses on sustainable raw materials, supply chain management, and environmental stewardship within its luxury goods operations. Federated Hermes, through its stewardship services, actively engages with companies, including those in the energy sector, to promote better ESG practices and climate action. These efforts collectively contribute to a more sustainable and responsible approach to resource management and environmental protection.