Environmental Profit and Loss project
To implement our Climate Policy we needed to know even more about where we have opportunities and leverage to reduce our CO2 footprint. For this reason we made an Environmental Profit & Loss (E P&L) project and the results were ready in Autumn 2014. We believe an EP&L is important as an awareness/transparency tool, for identification of environmental hotspots, for risk management and overall supply chain management and as an excellent means for communication.
The aim of the project done in collaboration with the Danish Environmental Protection Agency and leading international experts was to be able to put a financial value on our environmental impact. The E P&L shows us where in the value chain we have the biggest environmental impact comparing our impact on water, GHG, land use and air in monetary terms and hence identifying sustainability hot spots. The E P&L also shows us the environmental impact of different choices of materials and therefore complements our work with the Rapid Design Module.
Working on the findings of the EP&L is an ongoing project. Our first step has been to address our most important suppliers, showing them our results and furthering the idea of mutual transparency. Also we were able to compare our EP&L results with the suppliers facility module results/HIGG and hence identify key areas to work further on. We will continue this important work and incorporate the findings in our work with the Higg Index.
Please follow this link to the EP&L report: http://mst.dk/media/129531/natural-capital-account-for-the-danish-apparel-sector_final.pdf