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. Another year in a row, the Polish clothing manufacturer remains in the lead of companies in terms of reporting the impact of their activities on the environment. The group of leaders in the survey included seven entities selected from 153 listed companies.
The Corporate Climate Awareness study carried out in Poland for the third time, seeks to assess the awareness of large and medium-sized companies regarding their impact on climate change. Publicly reported results provide investors, customers and all stakeholders with reliable, comparable information about the sustainability of companies and the extent to which they integrate environmental considerations into their management processes.
– Assessing companies’ performance in terms of reporting their environmental impact is becoming increasingly important in the eyes of analysts and investors. Competitiveness in the area of climate awareness is proving to be as important as the product itself and economic issues. It is becoming one of the conditions for building an advantage – whether in terms of human resources, sales, finance or investments. In this context, being among the leaders of climate-conscious companies is a great honour for us. It also confirms that the sustainable development strategy may not be just an add-on, but an integral element of business activities, clearly defined and reliably implemented. Transparency and care for proper communication with the capital market, in turn, are key to building trust and position among investors – comments Przemysław Lutkiewicz, Vice-President of LPP.
The analysis covered information from the annual reports of companies listed on the Warsaw Stock Exchange. This year, the average score of 153 companies assessed in the survey was 1.79 out of 10 possible points and was 0.08 points lower than last year. The Polish clothing manufacturer scored highest in 7 out of 10 criteria, achieving a total of 8.08 points and taking the third position on the podium. The highest rated company received 8.5 points.
According to the authors of the survey, only 38% of the assessed companies take climate issues into account in their management processes, despite the tightening market and regulatory trends. Only a few to a dozen companies manage to meet the requirements which will apply to all enterprises after the entry into force of the EU CSRD (Corporate Sustainability Reporting Directive).
– The Climate Crisis Awareness study is one of the few tools available on the market for maintaining standards in environmental reporting. It is also a reliable point of reference for capital market reviewers. As one of the leaders among listed companies, not only do we feel honoured, but we are also obliged, in the years to come, to raise these standards and inspire other market participants to make changes – concludes Przemysław Lutkiewicz.
LPP is a Polish family business and one of the fastest growing clothing companies in the region of Central and Eastern Europe. For 30 years it has been successfully operating in Poland and abroad, offering its collection in traditional stores already on 26 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. As at the end of 2020, the company had a chain of over 1800 stores with the total area of 1.4 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 259 million pieces of clothing to three continents. LPP plays another important role as it employs nearly 22 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.