Companies

P&G's Rs 200 crore environmental sustainability fund

Our Bureau Mumbai | Updated on November 28, 2019 Published on November 28, 2019

Procter & Gamble (P&G) is to invest Rs 200 crore to create an environmental sustainability fund, which will collaborate with like-minded partners that offer environmentally sustainable business solutions.

This investment also marks the second edition of P&G's vGROW External Business Partner Summit. vGROW is P&G’s platform to identify and collaborate with businesses to offer solutions.

P&G is hosting the second edition of P&G vGROW External Business Partner Summit on Thursday in Mumbai. This year, the summit is focused on identifying and implementing sustainable solutions like packaging innovations, renewable sources of energy and reducing carbon footprint.

P&G has already invested more than Rs 200 crore through the innovation sourcing fund set-up last year via collaboration with start-ups and small businesses. “The new Environmental Sustainability Fund comes in addition to the ongoing Innovation Sourcing Fund launched last year,” the company said.

Madhusudan Gopalan, MD & CEO, P&G Indian Subcontinent said, "Environmental sustainability is a key pillar of our citizenship efforts. We know that solving the biggest challenges requires collaboration that enables people, planet and businesses to thrive."

Over the last year, P&G said it received 1000+ applications from start-ups, small businesses, university incubation centres and large organisations, and has collaborated with firms and individuals in offering solutions like agile supply chain, raw material innovations, brand and marketing solutions, innovation on packaging, productivity ideas, etc.

Published on November 28, 2019
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