Business leaders must appreciate the real dependencies of their business on nature, and the impacts their activities have on it. They must be willing to account and pay for what nature provides to their businesses and, by investing in natural infrastructure, businesses can protect the full values provided. A more accurate understanding of the true cost to businesses that their environmental activities bear, will provide the incentive to pay nature for her contribution. The World Bank president Jim Yong Kim has called this natural capital accounting “one important new metric in the global toolbox” to address climate change, poverty eradication and economic development. Kering and Puma have published the true cost of the environmental impacts of Puma’s business activities across its supply chain in their Environmental Profit & Loss (E P&L) statement, now being rolled out across all Kering’s brands. Natura has estimated the value of natural capital and impacts in its supply chain — assessing potential money savings and environmental impacts at the same time.
Posted on: Thu, 13 Nov 2014 11:47:57 +0000
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