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

With the aim of developing a benchmark to measure the impact of sustainability strategies of leading Asia-Pacific companies, Kering has formalized its collaboration with the National University of Singapore (NUS).

Kering used the Singapore 'Nature in the City' forum to announce its collaboration with the NUS Center for Governance and Sustainability.

Three phases of studies have already been defined, the first focused 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, Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam.

The initial phase, called 'Nature-related Practices and Strategies in Asia-Pacific', will broadly cover 700 companies operating in 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% that consider climate change.

NUS “combines academic rigor, research expertise and real-world experience – essential levers for successful impact,” said Marie-Claire Daveu, director of sustainability and institutional affairs at Kering. “The sustainability challenges we face today are complex and by partnering with an exceptional university recognized 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 focus specifically on the role of the climate transition in the strategies of the main companies in the region.

In 2023, Kering saw a 17% drop in its net profit, while its sales decreased by 4%. The owner of brands such as Gucci, Saint Laurent, Bottega Veneta and Balenciaga now expects 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.