The Kering Group is a prominent player in the luxury fashion industry, boasting of high-end brands such as Gucci, Saint Laurent, etc. To measure and quantify the environmental impact of its operations, the group has developed an EP&L (Environmental Profit and Loss Accounting) tool. This chapter critically analyses the EP&L tool using the concepts of ecosystem valuation and double materiality to understand its effectiveness based on the Kering Group's goals and performance over the years and the indicators they currently use. The findings indicate the need to update the tool to gain a more comprehensive understanding of the relationship between business and the environment. This study offers insights into whether balanced growth is achievable for this fashion industry giant through its current efforts. The results of this study could help the Kering Group, and other similar organizations, develop and implement more effective strategies for reducing their environmental impact and promoting sustainable growth.