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LPP S.A. Press room LPP among the leaders of the Corporate Climate Crisis Awareness study

LPP among the leaders of the Corporate Climate Crisis Awareness study

15.09.2020

LPP was awarded the title of Climate Conscious Company in the second edition of the study conducted by the Polish Association of Listed Companies, Foundation of Reporting Standards and Bureau Veritas Polska. Information from the annual reports of 151 companies was analysed. The second rank of the Gdańsk-based company confirms the important role of the climate conscious policy in the company’s business strategy.

The Corporate Climate Awareness study carried out in Poland for the second time, seeks to verify the awareness of large and medium-sized companies regarding their impact on climate change. The results announced to the public provide investors, customers and all stakeholders with reliable information on which companies are taking these issues into account and to what extent they are incorporating them into their governance processes.

In this year’s edition, 151 companies were surveyed, of which only six exceeded the 70% threshold. The average for all surveyed companies was 1.87 points, and the highest rated company received 9.33 points. Although, according to the authors of the study, the results still mean low climate awareness among the companies, there was a slight improvement noted compared to last year. LPP with a score of 8.83 was ranked second in the general classification of six companies with the title of Climate Conscious Company.

– We are very pleased with the result of the Corporate Climate Awareness study, as well as with the fact that LPP was among such a selected group of companies whose approach to reporting the impact of business activities on the environment has been appreciated by the experts. By publishing reports including non-financial data for the last three years, we have been trying to describe our ESG projects in a transparent way and we hope that they constitute a reliable and transparent source of information about the company and our operations. Every year, we increase the volume of data on climate challenges, which are an important part of our business plans. We treat the lead position in the “consumer goods” category as a special distinction, but also as a responsibility, which is why we intend to consistently implement further commitments made within the framework of the sustainable development strategy – says Przemysław Lutkiewicz, Vice-President of the Management Board in LPP.

The study is conducted in accordance with the methodology based on the analysis of data from non-financial reports of companies against 10 criteria. Three of them concerned policies or strategies of companies in relation to the management of climate crisis issues and identification of risks and opportunities related to climate change, and seven referred to reporting of greenhouse gas emissions. LPP managed to score the maximum number of points in 8 categories.

– We treat the award of the title of Climate Conscious Company as a confirmation that the strategy adopted by LPP in terms of reducing the environmental impact of our activities is the right direction. It is also a great motivation to take further actions. We are particularly pleased with the maximum score awarded in the greenhouse gas emission criterion. For LPP, last year was the base year in respect of which we set CO2 reduction targets. For the first time, we have calculated our environmental footprint so precisely, from the acquisition of raw materials to the disposal of clothes, which is still rare on the market, especially in the clothing industry. The result achieved in the study confirms that transparent data on emissions and the use of measurable indicators or accepted calculation standards are increasingly becoming an important element in assessing the activity of each company – comments Anna Miazga, Sustainability Expert in LPP.

According to Michał Stalmach, Senior Sustainability Consultant at Bureau Veritas Polska, LPP is an example of a company that very consciously implements measures aimed at reducing the environmental impact of its operations, which is also reflected in its non-financial reports. – It is noteworthy that in such a key criterion as greenhouse gas emissions, the company undertook to calculate its carbon footprint not only in its own facilities, i.e. offices, warehouses or stores, but also analysed the emissions along the entire value chain – comments Michał Stalmach. – The sustainable development strategy announced by LPP last year, assuming a 15% reduction in emissions by 2025 in the 1. and 2. range and the implementation of actions aimed at reducing emissions at suppliers by increasing the number of products from the Eco Aware line and implementing the Eco Aware Production programme, confirms that these are conscious and realistic commitments, the implementation of which is presented by the company in its reports in a transparent manner – he adds.

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LPP SA is a Polish family business and one of the fastest growing clothing companies in the region of Central and Eastern Europe. For over 25 years it has been successfully operating in Poland and abroad, offering its collection already on 25 markets, including in such prestigious capitals as London, Berlin, Tel Aviv or Moscow. LPP SA manages five fashion brands: Reserved, Cropp, House, Mohito, and Sinsay. The company has a chain of over 1700 stores with the total area of over 1 million sq.m. The online offer of the brands collections is available on 31 markets. On the basis of a global supply chain, the Polish clothing producer distributes over 265 million pieces of clothing to three continents. LPP plays another important role as it employs over 24 thousand people in its offices and sales structures in Poland, Europe, Asia, and Africa. The company is listed on the Warsaw Stock Exchange in the WIG20 index and belongs to the prestigious MSCI Poland index.