By  on March 22, 2011

PARIS — French retail-to-luxury firm PPR on Monday unveiled a new sustainability initiative that it says will revolutionize the way it does business by requiring the company’s brands to not only do less harm, but to generate social and environmental benefits in the long run.

PPR chief executive officer François-Henri Pinault and PPR chief sustainability officer Jochen Zeitz said the “PPR Home” plan will be endowed with an initial annual budget of 10 million euros, or $14.2 million at current exchange rates, whose evolution will be indexed to the firm’s dividends.

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