Procter & Gamble India sets up Rs 200 cr environmental sustainability fund

FMCG major Procter & Gamble (P&G) India on Thursday said it has set up a Rs 200 crore environmental sustainability fund to collaborate with external partners, offering environment friendly business solutions.

Commenting on the initiative, P&G Indian Subcontinent MD & CEO Madhusudan Gopalan said environmental sustainability is a key pillar of the company's citizenship efforts, and is embedded in its business strategy.

"We know that solving the biggest challenges requires collaboration that enables people, planet and businesses to thrive," he added.

India is a priority market for the company and continues to be at the forefront of innovation, Gopalan said.

Last year, the company had set up 'Innovation Sourcing Fund' through which it has already invested more than Rs 200 crore on implementing innovative solutions in collaboration with external partners from across the country.