It is essential that individuals, businesses, and society more broadly, create and share solutions that can help reduce our collective impact on the environment, and replenish our natural resources. It is only in this way that we will avoid the acceleration of the impacts that climate change is already having on people and nature. At Kering, we designed our pioneering tool, the Environmental Pro t and Loss (E P&L) account, to measure and monitor our impacts on nature. We are inputting our learnings and methodology from the E P&L to the Natural Capital Protocol, which will help companies’ to better address environmental disruptions and ultimately help change the climate trajectory we are currently on.
This new 2014 Group E P&L report is an update of our 2013 Group E P&L released earlier this year. It showcases progress on our results and our learnings, as well as the improvements we have made to the methodology itself. The release of this report is evidence of our commitment to transparency, and the comparison between 2013 and 2014 results is the rst of the annual benchmarks that Kering will be providing. This demonstrates how fundamental the E P&L is to the Group’s business reporting, and how regular deployment of the E P&L enables the incorporation of sustainability analytics into day-to-day business decisions. In turn, this adaptive approach helps us to build resilient business growth in the face of climate change.
As illustrated in this report, we continue to be dedicated to ongoing testing and improvement of our E P&L methodology to maximise its e ectiveness within our own business. As such, over the next months we are examining how to integrate data that helps us assess climate risk alongside other E P&L metrics. We will also be working with a number of global experts.
to nd ways to better integrate the business impacts on biodiversity into an E P&L context. Furthermore, showing that the E P&L can be easily repeated year-to- year will advance efforts to build broader business engagement and the mainstreaming of corporate natural capital reporting. We are continuing to contribute to help drive natural capital accounting adoption by making our open-sourced E P&L methodology even more accessible to the business community. As such, Kering will also open-source the key “multipliers” of our E P&L to help companies calculate and value their environmental footprint.
We look forward to presenting an even more in-depth 2015 Group E P&L which will include a 3-year trend analysis on our E P&L findings and links to our Sustainability Targets achievement.
Download the report here.