The term sustainability can be outlined according to
three different categories: social, environmental, and economic.
Measures for the social category are: employees' health and safety,
company culture and diversity,
education, training and talent management.
Measures for the environmental category are: resource and energy consumption,
waste and pollution, emissions and climate.
Measures for the economic category are: customer satisfaction and loyalty,
creation of shareholder value,
regulatory compliance, liability for accidents and environmental damage.
At the interface of the environmental and social category,
the goal is to be bearable.
At the interface of the social and economic category,
the goal is to be equitable.
At the interface of the environmental and the economic category,
the goal is to be viable.
Sustainability then wants to be bearable, equitable, and viable.
PUMA recognized the need to put monetary value on natural services.
Let's look first at the company profile of PUMA.
PUMA is a leading sportswear and sports lifestyle products manufacturer
with three main product categories: footwear, apparel, and accessories.
In 2012, it had revenue of about 3.3 billion euros,
and employed approximately 11,300 people.
First initiatives were started in 1993.
First reports published in 2002.
Currently the company pursues several projects: 25 percent reduction of CO2 emissions,
energy and water use by 2015.
'Clever little bag' out of recycled materials has been already introduced in the market;
and the company committed to zero discharge of hazardous chemicals in its operations.
Let's now focus on the key challenge addressed by PUMA.
Nature provides us with
valuable services, which are costless and thus economically invisible -
but are threatened by the three presented challenges: climate change,
population growth, and situational wells.
A new mindset that values the services of the ecosystem is required.
Take the examples of bees and Amazonas.
Their value of services is indefinite,
but the price of services is zero.
So in general, the price of the commons is zero.
Commons are typically rainforests, water, and air.