Puma Puts Financial Value on Environmental Impact

Puma is the first company in the world to put a value on the ecosystem services it uses to produce its sports shoes and clothes. In a huge leap for CSR, the company has published an economic valuation of the environmental impacts caused by greenhouse gas emissions (GHGs) and water consumption along its entire supply chain. It plans to become even more ambitious by integrating both its  social and economic impacts. Puma belongs to parent group PPR, which owns brands from Gucci to Stella McCartney. Both company and parent group made it clear that the current system of manufacturing is responsible for degrading the planet’s eco-systems and needs to go through a fundamental change. Puma’s creation of the environmental profit and loss account shows that its direct ecological impact of its operations equals to £6.2m and an additional £74.7m falls upon its entire supply chain. Jochen Zeitz, chairman and CEO of Puma and chief sustainability officer at PPR, said: “The E P&L statement is an essential tool and a shift in how companies can and should account for and, ultimately, integrate into business models the true costs of their reliance on ecosystem services and PPR Home will encourage and collaborate with the industry to adopt this tool. “ More…

News selected by Covalence | Country: Global | Company: Puma / PPR | Source: Triple Pundit