PUMA SE

EANS-News: PUMA Completes First Environmental Profit and Loss Account which values Impacts at EUR 145 million (with photo)


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Herzogenaurach (euro adhoc) - PUMA Completes First Environmental Profit and Loss
Account which values Impacts at EUR 145 million

  Impact of EUR 51 million resulting from land use, air pollution and waste
along
  the value chain added to previously announced EUR 94 million for GHG emissions
                              and water consumption


 PUMA´s Parent Company PPR announced its Luxury and Sport & Lifestyle Brands to
                         implement a Group EP&L by 2015



Munich, 16 November  2011  -  Within  the  context  of  publishing  a  worldwide
unprecedented Environmental Profit and Loss Account (EP&L),  the  Sportlifestyle
company PUMA and PPR HOME, the PPR Group´s sustainability  initiative,  released
today, that the environmental  impact  for  the  key  areas  of  greenhouse  gas
emissions (GHG), water  use,  land  use,  air  pollution  and  waste,  generated
through the operations and supply chain of PUMA is valued at EUR  145  million 
in
2010. Furthermore, in  acknowledging  the  PUMA  EP&L  today  as  an  innovative
sustainability approach, the PPR Group, PUMA´s majority  shareholder,  announced
that  this  groundbreaking  economic  valuation  methodology1  for  a  company´s
environmental impacts  will  be  implemented  across  its  Luxury  and  Sport  &
Lifestyle brands by 2015.

After publishing an economic valuation of EUR 94  million  of  GHG  emissions 
and
water consumption in May this year2, PUMA has now finalised its 2010  E  P&L  by
adding EUR 51 million caused  by  land  use  change  for  the  production  of 
raw
materials, air pollution and waste along its value chain.  Only  EUR 8 million 
of
the EUR 145 million total derive from PUMA´s  core  operations  such  as 
offices,
warehouses, stores and logistics while the remaining EUR  137  million  fall 
upon
PUMA´s supply chain. These costs, which will not  affect  PUMA´s  net  earnings,
will serve as an initial metric for the company  when  aiming  to  mitigate  the
footprint of PUMA´s operations and all supply chain levels.

"The  unprecedented  PUMA  Environmental  Profit  and  Loss  Account  has   been
indispensible for us to realize the immense value of nature´s services that  are
currently being taken for granted but without which companies could not  sustain
themselves,"  said  Jochen  Zeitz,  Executive  Chairman  of   PUMA   and   Chief
Sustainability Officer of PPR. "At PPR  HOME,  we  view  the  PUMA  EP&L  as  an
essential tool to help drive PPR´s sustainability development across  its  Group
of brands because analysing a company´s environmental impact through  an  E  P&L
and understanding where environmental measures are necessary will not only  help
conserve the benefits of ecosystem services but also  ensure  the  longevity  of
our businesses. The results of the  PUMA  E  P&L  underpin  the  urgency  for  a
paradigm shift in the way we all currently do business and I have  been  pleased
to also see that the release of PUMA´s first results  has  generated  widespread
interest among governments, corporations, NGOs and academics."

The PUMA E P&L and the associated methodology3 were developed with  the  support
of PricewaterhouseCoopers LLP and Trucost PLC, using recognised  ecological  and
economic techniques and building on a large volume of  work  in  the  fields  of
environmental and natural resource  economics.  The  valuation  of  the  overall
results shows:


    • PUMA´s supply chain is responsible for 94% or EUR 137 million of its total
      environmental impact.
    • Over half  (57%  or  EUR  83  million)  of  all  environmental  impacts 
are
      associated with the production of raw materials (including leather, cotton
      and rubber) in Tier 4 of PUMA´s supply chain4.
    • Only 6% or EUR 8 million derive from PUMA´s core operations such as
offices,
      warehouses, stores and logistics; a further 9% (EUR  13  million)  occur 
in
      Tier 1, with the remaining 85% (EUR 124 million) in Tiers 2-4.
    • GHGs make up 90% of the total impact of PUMA´s offices, stores and
      warehouses.



Alan McGill, partner, Sustainability  and  Climate  Change,  PwC,  said:  "These
values are enough to make any business pay attention. The PUMA E  P&L  offers  a
real insight into the environmental consequences of commercial decisions and  at
the same time highlights potential commercial consequences of the  environmental
realities unfolding around the world. This will  make  many  companies  consider
how they can apply similar analysis in their own organisations. Companies -  big
and small - are now reliant on global supply chains, making their  environmental
footprint much larger than  many  realise.  Assigning  economic  values  to  the
environmental impact of a company´s operations  enables  a  business  to  tackle
vital questions now, not just about environmental impacts,  but  business  risk,
costs savings and finding new ways to become more effective.  Without  measuring
them, the impacts cannot be managed, or reduced."

E P&L Results Break-Down
Water Use and Greenhouse Gas Emissions
The impacts of water use and GHGs were  found  to  be  roughly  equal,  together
making up just under two thirds of the  overall  impact  (around  EUR  47 
million
each)5. (For more details, please refer to the press  materials  of  PUMA´s  May
2011 announcement on http://about.puma.com/?p=6644)

Land Use
Negative impacts on biodiversity and ecosystem services as a result of  land-use
for agriculture and buildings in PUMA´s supply chain are valued at EUR 37 
million
or 26% of the  total  E  P&L.  More  than  any  other  impact  these  costs  are
concentrated in Tier 4 with just 1% arising in PUMA´s operations and Tiers  1-3.
Because leather is used extensively in footwear - PUMA´s dominant business  line
- and it is the most land extensive raw material that PUMA sources, the  use  of
leather is the greatest single factor contributing to impacts on land-use. As  a
result, footwear accounts for EUR 34  million  or  91%  of  the  overall 
land-use
impact.

Air Pollutants
The  environmental  damage  caused  by  air  pollution  (particulates,  ammonia,
sulphur dioxide,
nitrogen oxide, Volatile Organic Compounds (VOCs) and carbon  monoxide)  amounts
to EUR 11 million, representing 7% of the E P&L total. Tier 4 is  responsible 
for
the lion´s share of the air pollution impact, valued at just over EUR  4 
million.
The single most significant contributor to  this  impact  is  ammonia  emissions
from animal waste and fertilisers used in agricultural processes.

Waste
The environmental impact caused by waste generation (landfill and  incineration)
is valued at EUR 3 million, representing 2% of the total PUMA  E  P&L.  More 
than
half of this derives from Tier 1 with some 21,000 tonnes of waste,  followed  by
Tier 2 suppliers with some 8,000 tonnes and  PUMA  Operations  with  some  6,000
tonnes of waste. The vast majority of PUMA´s overall waste is produced  in  Asia
/ Pacific where most of PUMA´s suppliers are located.

Dr. Richard Mattison, Chief Executive Officer, Trucost said:  "The  current  era
of volatile resource prices, growing consumer and investor interest and  greater
regulatory standards mean that environmental issues  are  increasingly  core  to
the business strategy.  Water  supplies,  access  to  raw  materials,  a  stable
climate and clean air are vital  to  business  operations,  but  many  companies
struggle to assess these issues due to their long and intricate  supply  chains.
The Environmental Profit and Loss Account approach provides a  robust  framework
to help companies unlock this complex challenge and embed sustainability at  the
heart of business decision making. PUMA has  demonstrated  that  accounting  for
the environment is no longer a `holy grail´ objective,  but  simply  makes  good
business sense."

Responses to the PUMA 2010 Environmental Profit and Loss Account
The PUMA E P&L findings from 2010 have revealed that the lion  share  of  PUMA´s
environmental impact occurs within its supply chain of external partners,  which
the company has limited control over.  In  order  to  reduce  the  environmental
impact at the  lower  end  of  the  supply  chain,  PUMA  is  dependent  on  the
cooperation of other industry players. To tackle this issue,  PUMA  has  already
started to gain support from national governments, environmental  organizations,
and representatives of science and industry to push for a shift in  the  current
business paradigm towards a more sustainable  approach;  one  that  acknowledges
the indispensible services provided by healthy  ecosystems  and  respects  their
limits. The first step to achieving this change  requires  the  services  to  be
given monetary values in order to account for them when doing business.

At the same time, PUMA  has  started  to  implement  solutions  at  its  Tier  1
suppliers and within its own operations, where the company is  able  to  provide
support for change, independently.

Jochen Zeitz commented: "Reducing the environmental  impacts  that  derive  from
PUMA´s supply chain represents a real challenge  for  us,  as  we  have  limited
control over these activities and on further Tiers, suppliers can be  shared  by
thousands of companies. However, we recognise that  in  order  to  make  a  real
change we, along with our industry peers,  have  to  work  responsibly  to  help
reduce the impacts of external supplier factories and  raw  material  producers.
In addition to driving innovation in various areas along our  own  supply  chain
and with our consumers, we also need  the  support  of  policy  makers  and  the
engagement of the whole industry to implement a new model  for  businesses  that
works with nature rather than against it  and  ultimately  supports  social  and
economic sustainability."

Raising Awareness Among National Governments, the Industry and Science
The release of the initial E  P&L  results  in  May  generated  extensive  media
coverage and attained significant interest  among  governments,  industry  peers
and international organizations.

Having  been  nominated  as  a  co-opted  member  of  the  German  Council   for
Sustainable Development, which advises the German government  on  sustainability
issues, Jochen Zeitz presented the results and benefits of the PUMA E P&L to  15
Council members and a representative of the Federal Government last month. As  a
result, the council will launch a project that aims  at  implementing  standards
for PUMA´s environmental  accounting  statement  and  will  promote  the  E  P&L
approach as an innovative practice in public debates.

The UK government featured PUMA´s groundbreaking analysis as  a  best  practices
case study for sustainable business in the Department for Environment, Food  and
Rural Affair (DEFRA) Natural Environment White Paper in June 2011. White  papers
are documents produced by the  UK  government  setting  out  details  of  future
policy on a particular subject, often forming the basis for legislative  reform.


Also, the Co-Chair of  the  Investment  Commission  and  Treasurer  for  the  UN
Environment Programme Financial Initiatives referred to  the  PUMA  E  P&L  when
speaking at the 2011 UNEP Financial Initiatives Global Roundtable in  Washington
last month. Further references have been made by  sustainability  experts  Pavan
Sukhdev6 and John Elkington7, the Harvard Business Review8, the Stanford  Social
Innovation Review9 and the World Business Council  for  Sustainable  Development
to name but a few.

Stepping up internal Resources at PPR and PUMA
In support of these findings, PPR  and  PUMA  have  stepped  up  their  internal
resources, hiring additional staff on a  group  level  as  well  as  within  the
PUMA.Safe team in order to address the challenge of reducing  the  environmental
impact. On a corporate level, PPR is adding an Energy Management  Specialist  to
its  sustainability  team,   who   will   immediately   begin   to   investigate
opportunities for reducing Greenhouse  Gas  emissions.  PPR  has  also  hired  a
Conservation and Ecosystem Services Specialist who  will  be  investigating  the
development of broadly-accepted definitions of  sustainable  cotton  and  rubber
and internal standards for their sourcing.

To better target and focus its efforts, the PUMA.Safe team, which  ensures  that
supplier factories adhere to PUMA´s  social  and  environmental  standards,  has
created both a Humanity and an Ecology team. Five additional  environmental  and
social auditors will be joining the  existing  13  employees  in  the  PUMA.Safe
team, so that environmental impacts at PUMA´s Tier 1 and Tier  2  suppliers  can
be better addressed and solutions for their reduction  more  rapidly  developed.
PUMA is also hiring a Chemical Engineer to look at solutions  to  identify  more
sustainable materials  as  well  as  supporting  PUMA  in  phasing  out  harmful
substances within the supply chain.

Developing synergies and partnerships
PUMA and PPR HOME have shared the results of  the  E  P&L  with  other  industry
players and corporations to leverage adopting a new business  model  that  takes
the costs of using natural resources and eco-system  services  within  corporate
supply chains into account. Furthermore, PUMA has collected information  on  the
environmental performance of suppliers which can be used to  provide  benchmarks
for supplier performance targets and the sharing  of  best  practice.  PPR  HOME
will also leverage the lessons learned during PPR´s  Group  EP&L  implementation
stages in order to provide case studies across the Group´s companies and  brands
to assist in broader adoption among businesses.

Building Capacity to Penetrate the Supply Chain
PUMA has already stepped up its capacity building programme  for  its  suppliers
such as the CONSERV project at apparel and footwear factories  in  Vietnam.  The
project, which was launched  in  cooperation  with  the  German  investment  and
development organization DEG and international  capacity  building  organization
Assist Asia, will support the factories of Tier 1, Tier 2 and Tier  3  suppliers
to reduce greenhouse gas emissions, secure  availability  of  natural  resources
and minimize the risks from waste and pollution through  the  implementation  of
resource efficiency practices.

Innovating for the Development of Sustainable Products
PUMA has also looked into opportunities to address the impact of Tier 1 to  Tier
4 suppliers through the innovative development of more sustainable products  and
introduced its iconic style PUMA Suede to sustainability, creating the PUMA  Re-
Suede made for the environmentally conscious consumer.  It  has  been  developed
using  the  latest  materials  and  processes   through   eco-friendly   product
innovation. It is comprised of 100% recycled polyester  fibers,  produced  by  a
chemical recycling process that reduces both the energy consumption and the  CO2
emission by 80% compared to the production of  virgin  materials.  The  recycled

polyester is scrap waste from manufacturing  processes  that  is  repurposed  to
create the synthetic material. With the development of  the  Re-Suede  PUMA  has
come a little step closer to achieving its goal  of  manufacturing  50%  of  the
international collections using more sustainable materials by 2015.
|Further information is available in the press kit on www.about.puma.com     
|
|The PPR Group E P&L Press Release is available on www.ppr.com.                 
|
|                                                                               
|
|Media Contact:                                                                 
|
|Kerstin Neuber - Corporate Communications - PUMA AG - +49 (0) 9132 81 2984 -   
|
|kerstin.neuber@puma.com                                                     
|
|Mich Ahern - Public Relations Consultant - PPR HOME - +44 (0) 7908 507 672 -   
|
|mich.ahern@gmail.com                                                        
|
                                                                             |

PUMA is one of the world´s leading Sportlifestyle  companies  that  designs  and
develops footwear, apparel and accessories. It is committed to working  in  ways
that contribute to the world by supporting Creativity, SAFE  Sustainability  and

Peace, and by staying true to the principles of  being  Fair,  Honest,  Positive
and Creative in decisions made and actions taken. PUMA starts in Sport and  ends
in Fashion. Its Sport Performance and Lifestyle labels include  categories  such
as Football, Running, Motorsports, Golf  and  Sailing.  Sport  Fashion  features
collaborations with renowned designer labels such as Alexander  McQueen,  Mihara
Yasuhiro and Sergio Rossi. The PUMA Group owns the brands PUMA, Cobra  Golf  and
Tretorn. The company, which was founded in 1948,  distributes  its  products  in

more than 120 countries, employs  more  than  9,000  people  worldwide  and  has
headquarters in Herzogenaurach/Germany, Boston, London and Hong Kong.  For  more
information, please visit http://www.puma.com

|PPR HOME                                                                      |


The PPR Group unites its brands behind PPR HOME to  work  together  towards  PPR
HOME´s Vision of  a  better  world that  is  more  sustainable  -  economically,
socially and ecologically - than the world we know and live in  today. With  PPR
HOME, the Group  commits  to  lessen  its  impact  on  the  environment,  taking
responsibility and  proactive  steps  to  implement  more  sustainable  business
practices. PPR HOME moves beyond the conventional CSR approach  and  promotes  a

new business paradigm  whereby  the  attainment  of  sustainability  is  driving
creativity and innovation, and vice  versa, to  build  businesses  that  deliver
financial, social and environmental returns for the long run.
|                                                                              |
|PPR                                                                           |


PPR nurtures a group of high-growth global brands distributed in more  than  120
countries. PPR generated revenue of EUR14.6 billion in 2010 and had 
approximately
60,000 employees as of December 31, 2010. The PPR share is  listed  on  Euronext

Paris  (FR  0000121485,  PRTP.PA,  PPFP).  Explore  the   PPR   brand   universe
at www.ppr.com:  Luxury  Goods  (Gucci,  Bottega  Veneta,  Yves  Saint  Laurent,
Alexander McQueen, Balenciaga, Boucheron, Girard-Perregaux, JeanRichard,  Sergio
Rossi and Stella McCartney), Sport & Lifestyle (Puma,  Volcom,  Cobra,  Electric
and Tretorn), Fnac and Redcats.

Pictures with Announcement:
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http://resources.euroadhoc.com/us/HP9jicw1

Further inquiry note:
Kerstin Neuber

Telefon: +49 (0)9132 81-2984

E-Mail: Kerstin.Neuber@puma.com

end of announcement                               euro adhoc 
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Pictures with Announcement:
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http://resources.euroadhoc.com/us/HP9jicw1


company:     PUMA SE
             PUMA Way  1
             D-91074 Herzogenaurach
phone:       +49 (0)9132 81 0
FAX:         +49 (0)9132 81-2246
mail:     investor-relations@puma.com
WWW:      http://about.puma.com/?lang=de
sector:      Consumer Goods
ISIN:        DE0006969603
indexes:     Midcap Market Index, MDAX, CDAX, Classic All Share, HDAX, Prime All
             Share
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
             Hamburg, Stuttgart, Düsseldorf, Hannover, regulated dealing:
             München 
language:   English
 

 

 



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