Kering and National University of Singapore to set “first-of-its-kind” benchmark for corporate climate strategies
14 May 2024 --- Kering joins the National University of Singapore (NUS) Business School to conduct a three-year research study, examining climate change impacts alongside corporate transition strategies in the Asia-Pacific region.
The Center of Governance and Sustainability (CGS) at NUS Business School will research companies from 14 Asia-Pacific jurisdictions and analyze the current state of nature and climate practices, strategies, reporting mechanisms and industry trends.
“At Kering, we believe in the power of collective action, as seen through our robust network of partners in several regions around the world. Today, I am proud to announce our partnership with CGS at NUS Business School, which combines academic rigor, research expertise and real-world experience — key levers for a successful impact,” says Marie-Claire Daveu, chief sustainability and institutional affairs officer at Kering, the French luxury group with a portfolio of couture, jewelry and beauty brands that include Gucci, Balenciaga and Saint Laurent.
“The sustainability challenges we face today are complex, and by partnering with an outstanding university renowned for its expertise in sustainability topics, we are exemplifying the group’s commitment to collaborate with partners on the Asia-Pacific region’s sustainability journey.”
Promoting disclosure
The two expect leaders in the non-profit, business and investment sectors, as well as regulators, will be able to adopt more sustainable practices and identify areas for improvement with the help of the resulting insights.
The project aims to promote a more resilient and sustainable future for stakeholders by offering a baseline for monitoring biodiversity tracking and looking at climate transition strategies.
Businesses do not give the same priority to climate change as biodiversity and the environment, the study finds.One of the initial studies, “Nature-Related Practices and Strategies in Asia-Pacific,” examined strategies from 700 listed companies across 11 industries.
The study found that, although 35% of businesses view biodiversity and the environment as material issues, these concerns are not given the same priority as climate change.
“Thirty-one percent prioritize nature and biodiversity as mid to high-priority issues. In contrast, 82% view climate change as a mid to high priority,” details NUS. “Additionally, 9% of all companies have tapped into capital flows and financing opportunities related to nature.”
Researchers urge companies to enhance their disclosure of nature-related issues to bridge this gap and invest more in nature-centric approaches.
“Nature underpins all economic activities and human well-being. Therefore, disclosing nature-related practices and strategies is crucial to providing transparency and accountability for a company’s environmental impact and sustainability practices,” says professor Lawrence Loh, director of the CGS at NUS Business School.
Workshops in pipeline
CGS and Kering will organize strategy workshops based on the study’s discoveries.
Through knowledge exchange and industry collaboration, these workshops hope to significantly shift business practices toward environmentally conscious and sustainable ones.
“We are poised to drive meaningful change by developing a baseline for measuring biodiversity tracking and examining climate transition strategies across diverse industries. This is a significant step in encouraging the integration of nature-centric approaches into corporate strategies, fostering a more sustainable and resilient future for all,” notes Loh.
By Venya Patel
