This article was originally published on Ethical Corp.
“The luxury fashion house’s pioneering accounting has contributed to the Natural Capital Protocol and enabled the group to work out where to focus its sustainability efforts. Angeli Mehta reports
Kering, the French home of luxury brands like Gucci and Saint Laurent, pioneered environmental profit and loss (EP&L) accounting with its former sportswear brand, Puma, in 2010. The following year, the group chief executive decided to apply it in detail to all operations and brands in the stable, which generated €15.5bn in revenue in 2017. When development began on the Natural Capital Protocol, Kering contributed the work it had already done to build a methodology.
“It’s not just a tool. It’s also a mindset change. We engaged all our brands in developing the tool,” explains Michaël Beutler, director of sustainability operations. The “EP&L is the key cornerstone of our targets to reduce [our] footprint.”…”
Read on at: Ethical Corp.