After more than ten years of implementation of its environmental and social efforts across its global brands, PPR announced an ambitious and multi-tiered new sustainability initiative in Paris. By moving beyond the traditional Corporate Social Responsibility model, the group launched PPR HOME and is setting a new standard in sustainability and business practice in the Luxury, Sport & Lifestyle and Retail sectors.
“My deep conviction that Sustainability creates value is part of my strategic vision for PPR. Sustainability can and must give rise to new, highly ambitious business models and become a lever of competitiveness for our brands. PPR HOME will provide us with novel, more sustainable approaches to contribute to a better world for the long run“, said Francois- Henri Pinault, CEO of PPR.
PPR HOME is the new direction dedicated to Sustainability inside PPR. Placed under the strategic leadership of Jochen Zeitz, PPR Chief Sustainability Officer, PPR HOME will bring expertise, support and creativity to all PPR brands. An annual €10 million budget, in addition to PPR brands own initiatives, will be dedicated to PPR HOME. It will be indexed to the evolution of the dividend paid by PPR.
By forming PPR HOME, the PPR Group is committing to lessen its impact on the environment, taking proactive steps to implement best business practices. PPR HOME will not only focus on working towards reducing and mitigating its social and environmental impacts, but will develop opportunities for the benefit of people and their environments in their spheres of operation.
PPR HOME's first announcements are setting the pace for the Group's sustainability mission in order to reduce the social and environmental footprint for its Luxury, Sport and Lifestyle brands. These pioneering initiatives include:
PPR HOME launches the Creative Sustainability Lab to help lead the industry and foster creativity, innovation and sustainability. Its inaugural partnership with Cradle-to-Cradle will drive PPR HOME to challenge traditional approaches and proactively re-think and re-consider product and business development. The Cradle-to-Cradle concept believes that 'good design' of products and services should move beyond typical measures of quality – cost, performance and aesthetics – to integrate and apply additional objectives addressing environmental and social concerns.
PPR has offset its 2010 global CO2 emissions from PPR's Luxury group, PUMA and PPR's headquarters of 98,729 tons to achieve carbon neutrality in Scopes 1 & 2 of the Greenhouse Gas Protocol and purchased carbon credits from Wildlife Works' leading REDD (Reduced Emissions from Deforestation and Degradation) offsetting project in Kenya that takes the needs of the local communities and the conservation of biodiversity into account. As the first step in making REDD a reality, Wildlife Works recently provided proof that REDD conforms to the accounting rigor that other carbon credit classes provide, resulting in Wildlife Works project becoming the first-ever Voluntary Carbon Standard (VCS) validated and verified REDD program.
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