WHY DEVELOP AN EP&L?
WHAT IS AN EP&L?
An EP&L values the environmental impacts of a business, across its entire supply chain. Expressing the scale of impacts in monetary terms enables us to consider environmental impacts alongside conventional business costs and place sustainability at the core of our business decisions.
"By integrating natural capital into our businesses we deliver financial, social and environmental value."
WHAT ARE THE BENEFITS OF AN EP&L?
Conducting an EP&L will unlock new insights into your business and its supply chain. Critically it will help you discover potential efficiencies, innovations and improvements that can give you a real edge.
A deeper understanding of the most significant impacts and what is driving them
Understanding the value of impacts and their drivers, enabled us to consider trade-offs across locations, materials, processes, products and technologies and implement targeted projects to better address our impacts.
A greater understanding of risks and opportunities
Understanding risks and opportunities means that our business is fully prepared to respond to challenges. We have produced guidelines, policies and measurable targets to help us make progress across a wide range of raw materials.
Valuable engagement with our suppliers
We surveyed over 1,000 of our key suppliers, across five continents, from product assembly right back to raw material producers. Working together with them to manage environmental challenges has made our relationships even stronger.
Building trust with our stakeholders
The EP&L opened a dialogue with stakeholders, allowing us to share learning and develop a shared understanding on priorities. It also helps our suppliers identify opportunities for improvement and innovation.
Responding to change and assessing progress
Presenting the impacts in a simple and transparent way has driven a broader understanding within the Group. It has shown how impacts made in one area of the business have far reaching consequences for another. This has helped us respond to the drivers of change in our supply chain, including fluctuations in raw material quality and availability. The EP&L also provides a clear basis to assess the performance of our environmental projects and investments.
WHY OPEN SOURCE OUR METHODOLOGY?
To achieve sustainability across shared supply chains collaboration is essential. We hope sharing our methodology will help other companies to also better manage their impacts and dependencies on natural capital. The more widely adopted tools like ours are, the stronger they will become, so we can develop a common understanding on priorities and actions. As more and more businesses see the advantage of understanding their impacts, business will become more sustainable and we will create more value for our consumers, stakeholders and shareholders.