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Kering releases 2014 Group E P&L results
After Kering released the first-ever Group Environmental Profit and Loss Account (E P&L) and open-sourced it in May 2015, it has now released the results of its consolidated 2014 Group E P&L. In order to understand how and where the business can better address environmental issues like climate change, Kering will continue integrating its E P&L results into decision-making and across its business activities.
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The E P&L is a tool used to measure the impacts of the business activities across the entire supply chain on the environment and its cost to society. Then after analysis, the metrics are linked to Kering’s operations (retail, offices and transport) along with those of its supply chains, from raw materials to manufacturing, and include water and air pollution, water use, Greenhouse Gas (GHG) emissions, waste production, and land use changes. Kering is continuously trying to include natural capital accounting into mainstream corporate reporting by providing year over year results. The incorporation of environmental impacts into day-to-day business decisions helps the business grow in the face of climate change.
“In order to create a more sustainable and more resilient business model, we have embedded natural capital accounting in our business through our E P&L. We are also further integrating the E P&L into key decisions and to monitor environmental impacts, such as climate change, on our supply chains and on the raw materials that are strategically important to us in the short and long term,” said François-Henri Pinault, Chairman and CEO, Kering.
An increase of 2.2 per cent year-over-year was reported for the Group’s E P&L results which is less than its revenue growth of 4.5 per cent. Also, the consistency observed in the year-over-year results and footprint profile validated that E P&L is working as an effective tool for decision making. Scope of the E P&L now also includes the estimation of the environmental impact from the use of precious stones in the business.