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Puma Promises World’s First Environmental Profit & Loss Statement

Puma says it will produce the first-ever Environmental Profit and Loss (EP&L) statement.

The fitness apparel company has implemented a new method of accounting, with help from Trucost and PricewaterhouseCoopers, that it says will allow it to produce a new type of integrated reporting.

The EP&L statement is designed to capture the brand’s economic impact on naturally occurring ecological systems including the Earth’s water cycle and air filtration. Environmental advocates have been calling for such accounting systems for years, Sustainable Life Media reports.

The athletic brand did not say when it would release its first EP&L. But it said it will encourage other companies in its sector to work towards producing their own integrated statements.

The EP&L project is part of a larger environmental initiative by Puma’s parent company PPR Group, whose other brands include Gucci, Yves Saint Laurent and Stella McCartney.

PPR said it has offset the 2010 scope 1 and scope 2 emissions from Puma, the PPR luxury group and PPR headquarters, a total of 98,729 tons. The group bought carbon credits from the Wildlife Works Reduced Emissions from Deforestation and Degradation (REDD) offsetting project in Kenya.

The group is also launching a “creative sustainability lab” in consultation with Cradle-to-Cradle, which PPR says will foster a new approach to product and business development.These two initiatives will cost 10 million euro a year, PPR said.

Last year the company unveiled its “clever little bag” packaging, which it says will help reduce cardboard use by 65 percent.

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3 thoughts on “Puma Promises World’s First Environmental Profit & Loss Statement

  1. This sounds very interesting and I will look forward to seeing the approach that’s taken. from a PR standpoint, I think it’s unfortunate to claim a “first” when the accounting is not even available. Moreover, Baxter and several Japanese companies have published environmental P&Ls for some time and while they may not be identical to Puma’s, they should not be overlooked.

  2. Fantastic. We’ve been working to promote and do this using environmental and social returns analysis. We can combine it with health and economic “P&L” data. Trucost or Puma would love to talk with you. @SVTgroup.

    Sara
    Sara
    Sara

  3. While this is a truly monumental achievement, at Verdant Value we advocate taking it one step further–feed that data into a full-scale valuation analysis to determine if the company’s initiatives can be linked to actual shareholder value. Making that connection will be the definitive move needed to engage the investment community in the value of sustainability.

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