Puma owner wins award for environmental accounting system
25/04/2014
The system places a monetary value on the environmental impacts that result from a business’s activities along the entire supply chain, and was the subject of some controversy surrounding its calculation of the value of leather.
The group stated that it has since “refined and improved” the E P&L methodology and is currently implementing it in its 22 luxury and sport & lifestyle brands.
Marie-Claire Daveu, chief sustainability officer at Kering, said: “We developed the E P&L so that we could have a deep understanding of our own impacts and dependencies on natural capital, but we also consider it essential for businesses more broadly to be accountable for their use of natural capital.”
Kering has recently been struggling with its sports brands and has reported sales were down 0.2% in the quarter ending March 31.
GLASA is an initiative from The Sustainable Fashion Academy (SFA) and it is supported by organizations such as The Antonia Ax:son Johnson Foundation for Sustainable Development, Association of Swedish Fashion Brands (ASFB), and the Prince of Wales International Sustainability Unit.
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