PPR launches sustainability initiative
French luxury group PPR has launched a new sustainability initiative to help reduce its environmental impact. The initiative, called PPR Home, has been allocated an annual budget of EUR10 million to invest in sustainability projects, including researching best-practice strategies. It will be led by Jochen Zeitz, chief sustainability officer and outgoing CEO of PPR-owned German sportswear brand Puma.
“In uniting its brands behind the PPR Home initiative, PPR can make a unique contribution towards finding sustainable solutions and has an opportunity to reconsider products and services as a means to challenge the present way of doing things; set the pace for a new, more sustainable consumerism; redefine sustainable shareholder value; and build businesses that meet the needs of an evolving society,” said Mr Zeitz.
PPR Home focuses on four different areas: leadership, which encourages a shift in the way of thinking both internally and externally; humanity, which aims to enhance the social, economic and environmental well-being of those working with PPR; ecology, reducing PPR’s environmental footprint; and creativity, which aims to create sustainable solutions to support global sustainability.
PPR Home has already launched a Creative Sustainability Lab initiative to help cultivate creativity, innovation and sustainability. The first partnership will be with eco-label certification Cradle-to-Cradle.
Puma will measure the cost of its ecological footprint and eco-system services with an environmental profit and loss account under the new scheme.
“My deep conviction that sustainability creates value is part of my strategic vision for PPR,” said PPR chief executive Francois-Henri Pinault. “Sustainability can – and must – give rise to new, highly ambitious business models and become a lever of competitiveness for our brands. PPR Home will provide us with novel, more sustainable approaches to contribute to a better world for the long run.”
