Kering partners with National University of Singapore to measure impact in Asia-Pacific region

By

Matthieu Guinebault

Translated by
Roberta HERRERA

Published
May 15, 2024

With the aim of developing a benchmark for measuring the impact of sustainability strategies of major companies in the Asia-Pacific, Kering has formalized its partnership with the National University of Singapore (NUS).

Kering took advantage of the Singaporean forum 'Nature in the City' to announce its collaboration with the Centre of Governance and Sustainability at NUS.

Three phases of studies have already been defined, the first focusing on the strategies of the 50 largest companies in the Asia-Pacific region. This phase will include groups from Australia, Mainland China, Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, the Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam.

The initial phase, named 'Nature-Related Practices and Strategies in Asia-Pacific' will broadly encompass 700 companies operating across 11 industries. Preliminary results indicate that 35% of these companies mention nature in their activity reports only in terms of material resources. Among these companies, only 31% consider nature and biodiversity as a medium or high priority, compared to 82% for climate change.

NUS “combines academic rigor, research expertise, and real-world experience - essential levers for successful impact,” said Marie-Claire Daveu, chief sustainability and institutional affairs officer at Kering. “The sustainability challenges we face today are complex, and by partnering with an exceptional university renowned for its expertise in this field, we demonstrate the group's commitment to collaborating with partners on the path to sustainable development in the Asia-Pacific region.”

Subsequently, the second phase of the study will specifically focus on the role of climate transition in the strategies of major companies in the region.

In 2023, Kering experienced a 17% decline in net profit, while its sales decreased by 4%. The owner of brands such as Gucci, Saint Laurent, Bottega Veneta, and Balenciaga now anticipates a drop in its current operating income of approximately 40% to 45% in the first half of 2024 compared to the first half of 2023.