BUSINESS EssilorLuxottica Posts Solid Results for First Half 2021, Sets Target of Carbon Neutrality by 2025 By Staff Friday, July 30, 2021 7:16 AM CHARENTON-LE-PONT, France—EssilorLuxottica (Reuters: ESLX.PA) announced today a plan to achieve carbon neutrality within the next four years. The ambitious plan was revealed by EssilorLuxottica’s management against a backdrop of the company’s solid financial performance for the first half of 2021, which indicates a rebound from the impact of COVID-19 the prior year and a return to the pre-pandemic levels of 2019. Revenue for the Group during the first half of 2021, ending June 30, totaled €8,768 million, a +5.7 percent increase at constant exchange rates over the first half of 2019. Operating profit rose to €1,271 million, compared with a loss of €378 million a year ago and up 35.1 percent versus 2019.In the second quarter, total revenue amounted to €4,709 million, up 103 percent compared with a year ago and 9.2 percent compared with 2019 at constant exchange rates.“On top of a buoyant U.S., generating more than 50 percent of the Group’s revenue, other key markets were nicely growing and fueling the company’s business acceleration, namely France, Italy, U.K., Mainland China, Australia and Brazil,” the company said in a statement.VMAIL will publish a more extensive report of EssilorLuxottica’s first-half 2021 financial results, including details on its Professional Solutions and Direct-to-Consumer business segments, on Monday.Speaking about the company’s new carbon neutral initiative, Francesco Milleri, CEO of EssilorLuxottica and Paul du Saillant, deputy CEO of EssilorLuxottica, said “Looking to the future, we’re proud to share our new company-wide Sustainability approach, 'Eyes on the Planet,' built around key pillars including carbon, circularity, world sight, inclusion and ethics. As a sign of our long-term commitment in this area, today we announce our target to achieve carbon neutrality across our direct operations by 2025, starting in Europe by 2023. Doing good for our customers, consumers and communities, and doing good for our planet gives us even greater confidence about what lies ahead.” To achieve its goal, EssilorLuxottica has set up an Eyes on the Planet platform which consists of five components:Eyes on Carbon: EssilorLuxottica is working toward achieving carbon neutrality across its direct operations (scope 1 & 2 emissions) by 2025, starting in Europe by 2023. The company’s investments in renewable electricity, such as solar and biomass heating systems and five photovoltaic installations, have enabled it to significantly reduce its reliance on fossil fuels and consequently reduce greenhouse gas emissions. A major forest restoration project of 30 hectares in the foothills of the Dolomites (UNESCO World Heritage Site) near Luxottica’s main production plant in Agordo, Italy, is a shining example of the company’s efforts to protect and restore natural ecosystems. Eyes on Circularity: EssilorLuxottica is making bold moves across the entire production cycle, including a shift from fossil-based materials to bio-based materials, which produce fewer emissions, biodegrade, and are easier to recycle. This is reflected in the recent investment in Mazzucchelli to develop and produce a highly sustainable type of acetate as well as Arnette and Costa’s new sustainable collections. Eyes on World Sight: Based on EssilorLuxottica’s belief that good vision is a basic human right, the company is on a mission to eliminate uncorrected poor vision by 2050 and making vision care accessible to everyone, everywhere. From providing vision care to millions in need through community based sustainable models to partnering with the world’s most impactful philanthropies, EssilorLuxottica is tireless in realizing its vision for universal access. With the Vision Catalyst Fund, the company has pledged to donate 200 million pairs of lenses by 2030. Eyes on Inclusion: In 2020, EssilorLuxottica earned a spot on the Financial Times “Diversity Leaders” list, highlighting its efforts to create a community of inclusiveness regardless of geography. In the past year alone, the company launched a global learning initiative focused on unconscious bias, a U.S. Think Tank steered by employees from various backgrounds and levels, and introduced several employee-led Business Resource Groups (BRGs) to bring people together through common interests. Eyes on Ethics: EssilorLuxottica takes an ethical approach to doing business that not only positively impacts its employees, but also has a tangible impact on the millions of customers and consumers it serves around the planet. The company’s vertically-integrated business model, built over decades, is the key to delivering that ethical approach wherever it has a presence.Additional information about EssilorLuxottica’s Eyes on the Planet platform is available in the new sustainability section on the company’s website.