Singapore: Kering, together with the Centre for Governance and Sustainability (CGS) at the National University of Singapore (NUS) Business School publish the first study of their 3-year partnership. Researchers have found there are significant gaps in nature-related reporting and low adoption rate of the Taskforce on Nature-related Financial Disclosures (TNFD) framework among companies of the Asia Pacific region.
Since 2024, Kering and the National University of Singapore (NUS) have forged an ambitious partnership, linking the Group with the Centre for Governance and Sustainability (CGS) to develop a benchmark for measuring the impact of sustainability strategies among major corporations in the Asia Pacific region.
As part of this collaboration, CGS unveiled its inaugural study on January 14 during a public workshop. The study, which analyzed 700 publicly listed companies in Asia Pacific, revealed significant gaps in nature-related reporting and low adoption rate of the Taskforce on Nature-related Financial Disclosures (TNFD) framework.
Structured around four key pillars: governance, strategy, risk and impact management, and objectives and key performance indicators; the study uncovered that half of these 700 companies reported increased awareness among their boards and leadership regarding environmental risks. While 75% acknowledged the impact of climate change on their business models, only a quarter plan to adjust their strategies accordingly. Risk management-wise, fewer than 40% of companies have integrated environmental concerns into their overall crisis management plans. Finally, this study shows that less than a third of organizations have set tangible goals for sustainable development.
“Voluntary actions won’t be enough to halt and reverse nature loss by 2030. With climate, biodiversity and fashion interlinked, companies need to move towards a nature-positive economy - and fast”, emphasized Marie-Claire Daveu, Kering’s Chief Sustainability and Institutional Affairs Officer.
"By aligning with global nature-reporting frameworks, companies can enhance their risk management, drive meaningful change, and contribute to a more sustainable future in an increasingly interconnected environmental landscape”, added Professor Lawrence Loh, Director of the CGS at NUS Business School.
About Kering: A global Luxury group, Kering manages the development of a series of renowned Houses in Fashion, Leather Goods and Jewelry: Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, Brioni, Boucheron, Pomellato, DoDo, Qeelin and Ginori 1735, as well as Kering Eyewear and Kering Beauté. By placing creativity at the heart of its strategy, Kering enables its Houses to set new limits in terms of their creative expression while crafting tomorrow’s Luxury in a sustainable and responsible way. We capture these beliefs in our signature: “Empowering Imagination”. In 2023, Kering had 49,000 employees and revenue of €19.6 billion.
About Centre for Governance and Sustainability (CGS), National University of Singapore: The Centre for Governance and Sustainability (CGS) was established by the National University of Singapore (NUS) Business School in 2010. It aims to spearhead relevant and high-impact research on corporate governance and corporate sustainability issues that are pertinent to institutions, government bodies and businesses in Singapore and the Asia-Pacific. CGS is the national assessor for the corporate sustainability and corporate governance performance of listed companies in Singapore. In tandem with growing demands from consumers and investors that financial returns are achieved with integrity, backed with environmental and social considerations, CGS has a slew of research focusing on sustainability reporting in Asia Pacific, sustainable banking, nature reporting, and climate reporting in ASEAN.
