By: Sakthi Prasad --
20 October, 2014
We all inherently know the importance of preserving our environment -- yet there is no policy coordination to bring about meaningful sustainability.
Are industries adequately monetized to join the sustainability bandwagon? Yes as well as No. There are sceptics who still say sustainability is difficult to achieve considering the cost/benefit analysis of such endeavors.
One thing is for sure: if tangible monetary value is attached to environmental sustainability then it would surely win more audience.
To their credit, Puma developed an Environmental Profit and Loss Account (E P&L) metric that financially quantifies environmental impacts along the entire value chain so as to help companies combine sustainability and business interests. And what did Puma achieve at the end of it? The company came up with a bio-compostable sneakers called ""InCycle"" that helped improve the company's triple-bottom line: People, Planet and Profit.
Hence, E P&L is not only about money; it can also help companies innovate.
One should concede that it is not easy to draw out E P&L as it would involve mapping the entire value chain of a business. Nevertheless, once achieved, it can bring about many other positive impacts such as reduced lead time, watchful supplier selection, package compliance and so on.
During the webinar scheduled for Oct. 29, Beroe's Senior Research Analyst Chandra Mouli and Senior Principal Santosh Kumar Peshkar will present the conceptual framework of environmental profit and loss account with the help of case studies. Chandra Mouli and Santosh will apply the framework to many Fortune 500 companies and see how they can innovate and grow better with the help of E P&L.
To watch the discussion, please
Environmental Profit and Loss Accounting One step closer to innovation | Beroe Webinar