Puma Ups Environmental P&L by $69m
Puma has updated its Environmental Profit and Loss account to include 51 million euros ($69 million) resulting from land use, air pollution and waste along the value chain, increasing total impacts to 145 million euros.
The EP&L results announced in May included GHG emissions and water consumption only, with impacts then totalling €94 million.
Puma majority shareholder the PPR Group has also announced that this valuation methodology will be used across its luxury and sport & lifestyle brands by 2015.
Puma executive chairman and PPR chief sustainability officer Jochen Zeitz said the EP&L had been indispensable for the company to realize the value of nature’s “services,” without which companies cannot sustain themselves.
The Puma EP&L and the associated methodology were developed with the support of PricewaterhouseCoopers and Trucost. The overall results show:
- Puma’s supply chain is responsible for 94% or €137 million of its total environmental impact.
- Over half (57% or €83 million) of all environmental impacts occurred in Tier 4 of Puma’s supply chain, defined as raw material production, such as cotton farming, oil drilling, etc.
- Only 6% or €8 million derive from Puma’s core operations such as offices, warehouses, stores and logistics; a further 9% (€13 million) occur in Tier 1 (product manufacturing) with the remaining 85%, or €124 million) in Tiers 2-4. Tier 2 includes outsourced processes such as embroiders, printers and outsole production, while Tier 3 includes raw material processing, such as leather tanneries, the chemical industry, and oil refining.
- GHGs make up 90% of the total impact of Puma’s offices, stores and warehouses.
Puma recently announced it is working to create compostable shoes and clothing.
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