P&G to invest Rs 200 crore on environmental sustainability fund

Mumbai: Procter & Gamble India said it will invest Rs 200 crore to create an environmental sustainability fund which will be used to partner companies providing sustainable solutions. This is in addition to its innovation sourcing fund created a year ago where the maker of Pantene shampoo and Ariel detergent spent Rs 200 crore. P&G is hosting an event to identify potential partners where sustainable solutions providers in packaging innovations, renewable sources of energy and reducing carbon footprint can pitch to P&G’s leadership team.

“Environmental sustainability is a key pillar of our citizenship efforts, and embedded in our business strategy. We know that solving the biggest challenges requires collaboration that enables people, planet and businesses to thrive. India is a priority market for the company and continues to be at the forefront of innovation," Madhusudan Gopalan, MD, P&G Indian Subcontinent, said.

Last year, P&G's innovation sourcing fund saw more than 1000 applications from start-ups, small businesses, university incubation centers and large organizations. The company has already invested in collaborating with organizations offering innovative solutions like supply chain solutions, raw material innovations, brand and marketing solutions for consumers, innovation on packaging and productivity ideas.


Last fiscal, Procter & Gamble Home Products, an unlisted arm of the world's biggest consumer goods firm, expanded sales by 14%, helped by rural expansion and new products while net profit rose 59% due to focus on higher margin portfolio. P&G in India also has two listed subsidiaries — Procter & Gamble Health & Hygiene, which markets feminine hygiene brand Whisper, and shaving products-maker Gillette India. The combined sales of all three units rose 16% to Rs 10,875 crore,