Fight against climate change

The Moncler Group considers the fight against climate change as a priority and is committed both to reducing its carbon footprint and to mitigating the risks and potential effects that climate change may have on its activities. Tackling climate change is a collective challenge that transcends the corporate boundaries and its entire value chain, going beyond national borders and involving all sectors, including companies, governments and non-governmental organisations.

 

The Group’s climate strategy is based on a phased approach that is constantly monitored and is subject to annual review.

 

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In particular, the Moncler Group is committed to reducing, by 2030, absolute scope 1 and scope 2 CO2e emissions by 70% (in line with the “1.5°C” ambition) and scope 3 CO2e emissions by 52% per unit of product sold compared with 20211 2(in line with the “Well-Below 2°C” ambition). These targets, submitted in 2022 and formally approved by the Science Based Targets initiative (SBTi)3, were considered consistent with the contribution required of companies to limit the maximum increase in global temperatures compared with pre-industrial levels. 

 

In 2025, the Moncler Group conducted an internal analysis4 to review its decarbonisation target for scope 3 emissions and align it with best practices that consider a more virtuous commitment in the absolute target. This proposal is currently being assessed by the SBTi. The scope 1 and scope 2 emissions target remains unchanged, as the scope has not undergone significant changes. 

 

As part of the climate strategy, adopting renewable energy, improving operational efficiency and using “preferred”5 materials are some of the main levers to reduce greenhouse gas (GHG)6 emissions, in accordance with the goals set by the United Nations 2030 Agenda for Sustainable Development (Sustainable Development Goals – SDGs).

The Group also remains committed to achieving net zero emissions (Net Zero)7 throughout the entire value chain by 2050, in line with the efforts required under the Paris Agreement8 to limit the increase in the global average temperature to 1.5°C. In this regard, the Group’s goal will be structured into two complementary phases to be completed by 2050 compared with 2021, in line with the Science Based Targets initiative: 

  • reduce scope 1, 2 and 3 GHG emissions by 90%; 
  • offset all residual emissions with carbon removals. 

 

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With this in mind, the Moncler Group is exploring which carbon removal projects and carbon storage activities could support its path toward achieving Net Zero.

Moncler is committed to reporting and communicating its impact on climate change and the results of mitigation activities in a transparent way through the Sustainability Statement and the CDP Climate Change questionnaire.

Energy consumption and scope 1 and 2 emissions

Direct and indirect energy consumption at the Moncler Group’s sites is mainly due to production activities in Italy and Romania and to the Italian logistics Hub in Castel San Giovanni (Piacenza), as well as to facility heating, air conditioning and lighting and the use of IT equipment at the corporate offices and at the Moncler and Stone Island stores.

 

In 2025, the Moncler Group recorded energy consumption of 68,022 MWh at its sites, marking an increase of about 9% compared with 2024, attributable to the increase in direct production, the acquisition and leasing of new buildings, the growth of the workforce (+4%) and the expansion of the direct store network. Despite the increase in consumption, the share of fossil sources in total energy consumption continued to decrease in 2025 (-1% compared with 2024).

DIRECT ENERGY CONSUMPTION (MWh)⁹20242025
Total energy consumption
62,289
68,022
TOTAL ENERGY CONSUMPTION FROM FOSSIL SOURCES
11,558
12,370
Fuel consumption from coal and coal products
-
-

Fuel consumption from crude oil and petroleum products10

3,550
4,547

Fuel consumption from natural gas fuel11

8,008
7,823
Fuel consumption from other non-renewable sources
-
-
Consumption of purchased or acquired electricity, heat, steam and cooling from fossil sources
-
-
Share of fossil sources in total energy consumption
19%
18%
CONSUMPTION FROM NUCLEAR SOURCES
-
-
Share of consumption from nuclear sources in total energy consumption
-
-
TOTAL CONSUMPTION OF ENERGY FROM RENEWABLE SOURCES
50,731
55,652
Fuel consumption from renewable sources, including biomass (also comprising industrial and municipal waste of biological origin, biogas, renewable hydrogen, etc.)
-
-

Consumption of purchased or acquired electricity, heat, steam and cooling from renewable sources12

50,271
54,656

Consumption of self-generated non-fuel renewable energy13

460
996
SHARE OF RENEWABLE SOURCES IN TOTAL ENERGY CONSUMPTION
81%
82%
Non-renewable energy generation
-
-

Renewable energy generation

496
1,153

Total energy consumption from activities in high climate impact sectors per net revenues14 from activities in high climate impact sectors15

20.04
21.72
SCOPE 1 AND 2 EMISSIONS¹⁶(TONNES OF CO₂e)20242025

Direct emissions (scope 1)

2,382
2,742

Natural gas11

1,450
1,416

Diesel10

264
341¹⁷

Petrol10

607
881¹⁸

Refrigerant fluids

61
104

Percentage of scope 1 emissions from regulated emissions trading schemes19

-
-

Indirect emissions (scope 2)

Location-based

17,758
18,616

Market-based

-
-

Total emissions (scopes 1 and 2)

Location-based

20,140
21,358

Market-based

2,382
2,742

Initiatives to reduce scope 1 and 2 consumption and emissions

In order to reduce energy consumption and GHG emissions, the Moncler Group is implementing various activities at its directly managed sites (production sites, offices, logistics hub and stores):

 

USE OF ELECTRICITY FROM RENEWABLE SOURCES

 

In line with its commitments, since 2023 the Moncler Group has sourced electricity only from renewable sources for its directly managed corporate sites worldwide, a key tool for the Group’s decarbonisation path. This result was achieved through:

  • installation of photovoltaic panels: at the logistics hub of Castel San Giovanni (Piacenza) and the Padernello di Paese plant (Treviso), the photovoltaic systems contributed to the generation of over 1,000 MWh and 12 MWh of energy respectively in 2025. At the same time, Stone Island, through the photovoltaic plant at the site in Ravarino (Modena), produced about 116 MWh of energy. The photovoltaic system installed at the new Moncler Headquarters in Milan is also scheduled to come into operation in 2026; 
  • purchase of electricity from renewable sources: also in 2025, the Group continued to switch conventional energy supply contracts into renewable electricity contracts worldwide. Where no renewable energy supply is available from the energy provider, the Group has continued to purchase Energy Attribute Certificates (EACs), including Guarantees of Origin (GOs), Renewable Energy Certificates (RECs), New Zealand Energy Certificates (NZECs), Non-Fossil Value Certificates (NFCs), Korean Renewable Energy Certificates (K-RECs) and International Renewable Energy Certificates (I–RECs). The purchase cost of Energy Attribute Certificates is an integral part of the Group’s annual financial planning, which takes into account both potential expansions of the retail channel, with a consequent increase in energy consumption, and potential changes in the price of the certificates. 

These initiatives have allowed the Group to keep the scope 2 (market-based) GHG emissions related to the consumption of purchased electricity at zero at all sites worldwide. 

 

ENERGY EFFICIENCY INITIATIVES

 

With regard to energy efficiency, the Moncler Group, as part of its Energy Management System, regularly carries out energy diagnostics aimed at identifying new opportunities for improving energy performance. These analyses allow to understand energy use profiles in depth, identify any inefficiencies and define targeted interventions. Based on the evidence collected, the Group implements a continuous improvement process to support the achievement of the decarbonisation and energy efficiency objectives. During 2025, the diagnoses concerned the Group’s Italian sites, which are characterised by higher levels of consumption. 

 

In particular, in 2025, the installation of energy-efficient lighting systems and optimisation of heating and air conditioning systems continued, both at existing sites and in new buildings. These actions have been supported by ongoing investments in the integration of innovative systems and high-efficiency equipment, in line with the technical requirements of EU Taxonomy Regulation 852/2020.

 

Specifically, in Moncler’s corporate offices, in continuity with what has been done in recent years, the activity of replacing traditional lighting systems with Light-Emitting Diode (LED)20 bulbs and thermal insulation systems has continued to ensure greater energy efficiency. At the Milan sites, the vast majority of lighting systems consist of more energy-efficient solutions compared to conventional ones; at corporate offices in Trebaseleghe (Padua) approximately 95% of lighting systems are low-consumption, while this percentage stands at around 80% at the Ravarino (Modena) site. 

To date, the entire production site in Romania and the logistics hub in Castel San Giovanni (Piacenza) are equipped with LED systems. The new knitwear plant in Padernello di Paese (Treviso), also fully equipped with LED lighting systems, has also been fitted with a photovoltaic system covering the entire roof of the building and a Building Management System (BMS) aimed at the integrated management of all technological functions of the space, from access control to lighting and air conditioning, in order to manage energy consumption more efficiently. In addition, in 2025 the renovation work carried out at the Ravarino Hub (Modena) resulted in optimisation of the internal ventilation and the installation of LED systems and heat pump heating systems. In the dyeing department, work is under way to implement a solar thermal system to support production, replace the boilers with heat pumps, install a process system for pre-heating water and replace the windows and doors to improve the building’s energy efficiency.

Finally, as part of the design of the new Moncler Headquarters complex in Milan, the Group has created a high-performance building envelope aimed at reducing thermal losses, and has provided for the installation of advanced air conditioning systems based on groundwater and air heat pumps, integrated with a photovoltaic system with an installed capacity of about 360 kWp and a solar thermal system consisting of 76 panels.

 

Regarding the stores, to date, more than 99%21 of Moncler stores worldwide (100% in the United States, South Korea, Japan and Europe) are equipped with LED lighting systems. The same types of systems are planned for Stone Island’s new stores worldwide. 

 

In line with previous years, also in 2025 the Group continued to implement activities aimed at renewing store electrical systems using new technologies that ensure energy saving.

 

In this regard, in 2021 Moncler began equipping stores with supervisory Building Management Systems (BMS) for more efficient management of energy consumption.

In continuity with the initiatives carried out, the Group has set itself the objective of defining the new Building Guidelines, accompanied by the relative implementation plan, aimed at identifying and implementing electrification and energy efficiency solutions at the directly managed corporate sites. 

 

LEED AND BREEAM ENVIRONMENTAL CERTIFICATIONS

 

In 2021 the Group initiated an environmental and energy certification process for its stores and all new corporate buildings according to the LEED standard. By adopting this certification, which requires the implementation of energy efficiency measures, the Group is committed to implementing best practices in energy management for each new project. 

 

Since 2023, the Moncler Group has undertaken every year to obtain LEED certification for new stores22. 

 

Given this commitment, the Moncler Group currently has: 

  • eight stores certified according to the LEED standard for Building Operations and Maintenance and two stores under certification; 
  • 43 stores certified according to the LEED standard for Interior Design and Construction and 18 stores under certification. 

With regard to the production sites, having obtained LEED Building Design and Construction certification for the extension of the production site in Romania, the Group obtained the same certification in 2025 for the new knitwear plant at Padernello di Paese (Treviso). Alignment with the same criteria is also under way for the renovation of the Stone Island building used for dyeing.

 

With regard to offices, in 2025 the Group obtained both the LEED certification for Design and Construction for the new Hub in Ravarino (Modena) and, in February 2026, the LEED certification for Building Design and Construction for the new Moncler Headquarters in Milan.

Lastly, BREEAM In-Use certification (Excellent level) was obtained for the logistics hub in Castel San Giovanni (Piacenza), proving a more efficient management of the building and an energy and environmental performance improvement.

 

LOW ENVIRONMENTAL IMPACT CAR FLEET

 

During the year, the Group continued to introduce low environmental impact vehicles (hybrid and electric cars) into the car fleet, exceeding its target and bringing the ratio of such vehicles to 98%, in line with 2024. Based on the results achieved, the Group has set a new target for 2028 aimed at ensuring that at least 45% of its car fleet consists of vehicles with emissions of less than 50g of CO₂ per kilometre travelled23.

 

Carbon neutrality

In 2025, the Group maintained carbon neutrality24 for all directly managed sites worldwide.


To maintain climate neutrality, and in line with what was done in previous years, scope 1 and 2 (market-based) emissions were reduced (-46% compared with the 2021 base year), while unavoidable residual emissions were compensated through three projects certified on the voluntary market and focused on the circular economy and renewable energy. 

 

The first project supported, certified according to Gold Standard, relates to the expansion of a highly energy efficient plastic waste recycling plant in Romania. This initiative adds to the contribution towards the implementation of two projects that aim to increase access to energy from renewable sources: a photovoltaic plant, certified according to the Verified Carbon Standard, in the Mauritius islands, and an off-shore wind plant, certified according to the Gold Standard, in Vietnam. The three projects are important not only from an environmental point of view but also from a social perspective as they have created new job opportunities and raised awareness among local communities on environmental topics and the importance of recycling and of management of local resources.
To monitor the reduction and compensation of greenhouse gas emissions at its sites, the Group, on an annual basis:

  • monitors the implementation of the Group guidelines for the procurement of renewable energy;
  • collaborates with the relevant corporate departments to continuously identify areas for improvement in energy efficiency;
  • monitors energy consumption and related CO2 emissions using dedicated company tools and with the support of a consulting firm;
  • collaborates with recognised partners to purchase renewable energy certificates (EACs) and CO2 credits aligned to major international standards such as the Gold Standard or Verified Carbon Standard (VCS).

Scope 3 CO₂e emissions

With reference to GHG emissions generated along the value chain, in 2025 the Group's scope 3 emissions, calculated for all significant categories, amounted to approximately 224,634 tonnes of CO2e, registering a decrease of approximately 2%25 in absolute terms compared with the previous year.

 

The GHG emissions generated by the production of raw materials, textile processing and production of finished garments represent about 70% of the Group’s scope 3 emissions. In 2025, Moncler continued the process of improving the completeness of the quality of the data included in emissions calculations thanks to the information collected through the traceability process and the in-depth collection of data on suppliers’ energy consumption. The inclusion in the collections of “preferred” materials, such as nylon and polyester made from recycled raw materials and organic cotton, avoided about 11,000 tonnes of CO2e. The Group expects that over the years these choices, along with the other activities taken on the value chain and in the logistics system will continue to contribute over the years to the reduction of GHG emissions in line with the commitments made under the SBTi. 

 

Emissions related to the Group’s industrial and distribution logistics26 in 2025 amounted to 25,643 tonnes of CO2e27, registering a slight increase compared with the previous year, mainly attributable to some shipments made by air due to exceptional logistical needs. 

 

Emissions related to business travel and commuting decreased compared with 2024, despite the increase in the number of Group employees (+4% compared with 2024).

 

Below are the scope 3 emissions, broken down by the categories considered significant for the Group. 


SCOPE 3 EMISSIONS (TONNES OF CO₂e) 20242025

Scope 3 emissions28

227,986
224,634²⁹

3.1 Purchased goods and services30 31

163,121
158,159

3.2 Capital goods32

9,257
9,874

3.3 Fuel- and energy-related activities

1,309
1,361

3.4 Transportation and distribution 

23,329
25,643

of which by ship

169
133

of which by air

21,403
23,792

of which by road/train

1,757
1,718

3.5 Waste

122
184

3.6 Business travel

2,993
3,016

3.7 Employee commuting

13,175
12,928

3.8 Upstream leased assets33

-
-

3.9 Third-party warehouses

569
672

3.10 Processing of sold products34

-
-

3.11 Use of sold product

10,384
9,885

3.12 End-of-life treatment of sold products

3,727
2,912

3.13 Downstream leased assets35

-
-

3.14 Franchises36

-
-

3.15 Investments37

-
-

Strategic areas for scope 3 emissions mitigation

Due to the nature of its business model, in which production is mainly managed through suppliers, the Moncler Group’s most significant environmental impacts are indirect (scope 3), accounting for around 99% of the Group’s total emissions. To reduce the indirect impact associated with the production and distribution of products, and within the limits of their sphere of influence, Moncler and Stone Island encourage production and logistics partners to apply environmental best practices.

 

“PREFERRED” MATERIALS


Among the raw materials used, including materials for finished products and packaging, wool and cotton are the main source of GHG emissions, followed by synthetic materials, such as nylon and polyester.

 

To reduce this impact, for several years, the Moncler Group has been progressively replacing conventional materials with alternatives from recycled, organic or regenerative agricultural origin that guarantee a reduction of emissions generated and therefore represent a key lever of the Group’s climate strategy. This approach not only supports the corporate commitment against climate change but also contributes to the mitigation of other environmental impacts.

Following the achievement of the intermediate objectives defined in the previous Sustainability Plan, the Group has further strengthened its pathway by setting new targets. In particular, the Group’s 202838 collections must include: 

  • ≥70% “preferred” nylon; 
  • ≥65% “preferred” cotton; 
  • ≥75% of wool certified to specific standards (e.g. Responsible Wool Standard – RWS, Nativa, Sustainawool). 

     

In 2025, in particular, the Group used more than 55% recycled or organic cotton, more than 60% recycled nylon and more than 70% certified wool, such as Responsible Wool Standard (RWS), Nativa and Sustainawool. Thanks to the purchase of these materials, with the exception of wool, for which an emission factor has not yet been defined that promotes the benefit of the transition to a lower impact solution, the Group avoided the emission of over 11,00039 tonnes of CO2e in 2025 compared with the purchase of the equivalent conventional raw materials. Support for these results also came from the Raw Material Manual40, published in 2024, which summarises the criteria and thresholds to guide the choice of materials and accessories with a lower environmental impact than conventional solutions and in line with best practices in animal welfare.

 

The Moncler Group is also committed to reduce the consumption of packaging materials and to research and apply lower impact alternatives compared to conventional solutions. In recent years, the Group has launched a series of programmes for improving packaging design, focused mainly on recyclability, re-usability41 and durability, as well as on reducing the materials used.

Since 2022, the packaging for the end client has been made with “preferred” materials, and the same has applied to logistics packaging since 2023. 

 

REGENERATIVE AGRICULTURE


Since 2023, the Moncler Group has supported projects dedicated to regenerative agriculture practices along the cotton and wool supply chains, with mitigation effects on both GHG emissions and impacts on biodiversity, and the implementation of new impact measurement methodologies in line with the latest reference standards. In particular, among the projects launched on the cotton supply chain, the Group has joined a regenerative agriculture project developed in Tennessee, in collaboration with Ecosystem Services Market Consortium (ESMC)42, which promotes reduced tillage, the use of cover crops and efficient nutrient management, enabling the removal over the years of approximately 195 tonnes of CO2e from the atmosphere, increasing the soil’s carbon sequestration capacity in the interested areas. The impacts of the project have been verified and certified by SustainCERT43.

Regarding the wool supply chain, the Group continued to support the project launched in Australia, together with PUR Projet44, which in 2025 saw the finalisation of the farm baselines that will be used to monitor the activities implemented in the field.

 

DECARBONISATION OF THE SUPPLY CHAIN


In 2025, emissions generated by production processes along the supply chain, from the processing of raw materials to the assembly of garments, represented around 30% of the Group’s scope 3 emissions. Within these activities, the weaving, dyeing and finishing processes are the phases with the highest emission intensity, accounting for about 65% of these emissions.

The Group actively collaborates with its suppliers to monitor energy consumption and define targets and plans aimed at reducing their carbon footprint.

In recent years, it has begun mapping energy consumption and the type of energy used along the supply chain in order to integrate these data into the Group’s carbon footprint and to identify, together with its suppliers, opportunities for energy efficiency improvements and for the transition to energy from renewable sources.

This activity continued in 2025, with the collection and integration of primary data relating to energy consumption and the type of energy used at over 170 production sites of direct suppliers and their sub-suppliers. To date, about 30% of the electricity consumed at these sites comes from renewable sources, of which 20% derives from self-production from photovoltaic systems installed in situ andthe remaining 80% derives from certified renewable sources.

Considering the same scope of suppliers and the related production sites mapped in the last two years, the percentage of suppliers that have procured electricity exclusively from renewable sources (self-produced or purchased certified) has increased by 12%.

 

This process, supported by external partners for the data verification phase, allows the Group to both improve the quality of the data used and monitor over time the virtuous actions implemented by its suppliers.

 

In 2025, the Group continued to provide advisory support, in collaboration with the Apparel Impact Institute45, with the aim of accelerating the transition to low-emission practices in its supply chain. In particular, 13 suppliers were involved, within the Carbon Target Setting (CTS) programme, which provides for a structured pathway of support in the definition of GHG emission reduction targets, in the increased use of energy from renewable sources and in the preparation of a medium/long-term decarbonisation plan. The CTS programme has also allowed to identify potential economic support tools (e.g., government incentives) to support the implementation of these measures, thus favouring more concrete and feasible decarbonisation strategies. The Group will continue to collaborate with suppliers that have more energy-intensive processes and to stimulate the adoption of renewable energy in the supply chain.

 

Moreover, the Group has launched an awareness-raising campaign along the supply chain, aimed at promoting environmental best practices in the sector. This activity was carried out both through dedicated workshops with first- and second-level suppliers and through the sharing of the Climate & Energy Toolkit, through corporate procurement channels, which provides practical tools for an effective understanding of how to monitor and accelerate the transition to lower-emission production models compared to conventional ones.

 

Aware that the decarbonisation of the supply chain requires a collective commitment on the part of the entire sector, the Group has joined the European Accelerator, an initiative led by The Fashion Pact, which brings together the main luxury groups with the aim of accelerating decarbonisation through shared actions and common tools. The first phase of the programme, which immediately involved a panel of suppliers, focused on simplifying reporting by developing a questionnaire dedicated to collecting the main environmental data, thus promoting a more efficient and harmonised approach to measuring supply chain performance.

 

To further strengthen this approach, the Moncler Group has set up a Committee within the Sustainability Committee, dedicated to overseeing the supply chain decarbonisation programme. Composed of key figures from top management, Purchasing & Procurement team managers, the Sustainable Supply Chain team and the Sustainability Unit, the Committee combines strategic and operational expertise, ensuring an integrated multidisciplinary approach. Among others, its main responsibilities include guiding the supplier engagement strategy for emissions reduction, overseeing the activities implemented and monitoring progress, in order to ensure the achievement of the Company's decarbonisation targets. This body represents a fundamental pillar in promoting an effective energy transition throughout the supply chain, favouring collaboration between corporate functions and suppliers.

Scope 3 Methodology

Initiatives to mitigate theoretical risks related to climate change

The Group has put in place a series of measures to mitigate the effects of the theoretical risk deriving from the intensification of extreme and chronic weather phenomena (for example heavy rainfall, heat or cold waves, drought phenomena, etc.), which could affect the physical sites, resulting in the potential interruption or reduction of production levels (operational continuity). In particular, it adopts insurance coverage aimed at limiting the economic impact deriving from any damage due to extreme weather phenomena and regularly assesses physical risks related to climate (for example, the exposure of the area to hydrogeological and geomorphological risks). Based on the results of the risk assessments, the Group adjusts site planning in order to minimise its exposure to the identified risks. In addition, the Group has defined action plans to deal quickly and effectively with any potential emergency situations relating to its logistics services in order to ensure business continuity.

 

Compared with the risk associated with changes in the purchasing dynamics of clients with potential preferences for lower impact products or lighter garments, the Group began to introduce products with “preferred” materials into its collections for years, from the bio-based down jacket in 2019, to the range of garments created with recycled fabrics in the 2021 Moncler Grenoble collection and the launch, in the Moncler collections, of a selection of “Born To Protect” jackets, a project that became a total look in 2022, including sustainable garments and accessories. Currently, thanks to the collaboration of the Design, Fabric and Research and Development, and Operations and Merchandising teams, the Group is progressively integrating into the collections fabrics and yarns with a lower impact than conventional solutions (over 55% in the 2025 collections). In addition, Moncler has expanded the range of products over the years, including, along with other new categories (including t-shirts, sweatshirts, knitwear, shoes and other accessories), lightweight down jackets, which can be worn at milder temperatures, or multilayer solutions that offer more opportunities for use.

Climate strategy

Notes

1 The absolute value of scope 1 and scope 2 (market-based) emissions in 2021, which is the base year of the target, is 5,065 tonnes of CO2e (scope 1 and scope 2 market-based are 2,332 and 2,733 tonnes of CO2e, respectively).

2 The 2021 scope 3 absolute value considered for the target base year is equal to 206,932 tonnes of CO2e. In line with the recommendations of the Science Based Targets initiative, the scope 3 emissions covered by the target do not include emissions associated with the use of sold product.

3 The SBTi (Science Based Targets initiative) is an initiative that sets science-based emission reduction targets in order to strengthen the competitive position of companies that want to move to a low-carbon economy. Launched in 2015 through a collaboration between CDP, the United Nations Global Compact, the World Resources Institute (WRI) and the World Wide Fund for Nature (WWF), it aims to guide companies on a structured decarbonisation journey towards a significant and scientifically based reduction of greenhouse gas emissions.

4 Considering elements such as, for example, the base year, the target year, the applicability of the Forest, Land and Agriculture (FLAG) guidelines, etc..

5 Materials that aim to have a lower impact compared to conventional solutions used by the Moncler Group (for example materials that are recycled, organic, from regenerative agriculture or certified according to specific standards).

6 With reference to the targets set, there are no locked-in greenhouse gas (GHG) emissions associated with the assets owned. As a result, there are no identified risks that these emissions could hinder the achievement of GHG emission reduction targets. Despite this, the Group continues to constantly monitor its assets to ensure the necessary flexibility to adapt to sustainability and emission reduction targets.

7According to the United Nations Intergovernmental Panel on Climate Change (IPCC), net zero emissions are achieved when the complex balance between greenhouse gas (GHG) emissions produced and those absorbed by the ecosystems is achieved through offsetting mechanisms. In particular, to contribute to the achievement of net zero emissions, companies have to reduce emissions and offset residual emissions. According to the Science Based Targets initiative, the achievement of Net Zero involves scope 1, 2 and 3 GHG emissions.

8 The Moncler Group, given the nature of its business, is not excluded from the EU Paris-aligned Benchmark (EU PAB), a financial instrument introduced by the European Union to help investors support the transition to a low-carbon economy, in line with the goals of the Paris Climate Agreement.

9 For the calculation of electricity and gas consumption, data were collected for the first ten months of the year, where available, while for the remaining months or in the case of partial information, consumption was estimated.

10 The data include fuel consumption and related fuel emissions for emergency generators and the car fleet with reference to the global perimeter. In 2025, the Group’s car fleet included more than 95% hybrid and electric vehicles, to which the respective vehicle consumption factors have been applied. For the calculation, GLEC Framework 3.1 conversion factors were applied.

11 The data include the total energy consumption calculated on the basis of the information collected through the utility bills. For the calculation, DEFRA 2024 conversion factors were applied.

12 This figure includes green energy certified through Energy Attribute Certificates (EACs), including Renewable Energy Certificates (RECs)/Guarantees of Origin (GOs)/International Renewable Energy Certificates (I-RECs)/Non-Fossil Certificates (NFCs)/Korean Renewable Energy Certificates (K-RECs).

13 This figure includes the consumption of electricity from the photovoltaic systems installed on the Group’s sites.

14 The Group companies operate in the sales and retail sector (NACE Section G), classified as high climate impact. All revenues generated and energy consumption are attributed to these activities. Revenues correspond to what is reported in item 4.1 Revenues in the Explanatory Notes to the Consolidated Financial Statements.

15 High climate impact sectors are those listed in NACE Sections A to H and Section L (as defined in Regulation (EU) 2019/2088 and Annex 1 of the relevant Delegated Regulation regarding rules on disclosure of sustainable investments).

16 For the calculation of emissions, financial control was considered, which coincides with operational control, for all scope 1 and scope 2 emissions. Furthermore, the DEFRA 2024 and GLEC Framework 3.1 emission factors for scope 1 were applied for the calculation, while the IEA 2025 factors were applied for scope 2.

17 Diesel consumption in 2025 increased compared with 2024, due to extraordinary power outages at some of the Group’s sites, which required the use of emergency generators.

18 The increase in emissions compared with 2025 is mainly linked to the introduction of petrol hybrid company cars to replace vehicles powered exclusively by diesel, resulting in an increase in the petrol consumed in 2025.

19 The Group, at the moment, operates outside the Emissions Trading System (ETS) regulated emissions market, as it does not fall within the sectors or activities subject to the monitoring and trading obligations of the European ETS.

20 The latest-generation LEDs, in addition to offering excellent light quality, ensure an estimated energy saving of up to 80% compared with the lighting systems previously used, while also generating less residual heat. In terms of environmental impact, they have an average lifespan that is significantly longer than traditional lights and are almost entirely made from recyclable material.

21 Excluding shop-in-shops, where lighting systems are provided by the host department stores (14 worldwide) and on which, therefore, Moncler cannot take action. However, by the end of 2025, these shop-in-shops had been equipped with LED lighting systems.

22 Excluding shop-in-shops.  

23 Target is subject to the implementation of Commission Implementing Decision (EU) 2023/1623.

24 Achieving carbon neutrality includes various CO2 emission reduction activities such as purchasing energy from renewable sources, using more efficient lighting systems, using vehicles with low environmental impact and compensating residual emissions with carbon credits generated by positive impact projects. Each credit, certified according to international standards, such as the Gold Standard or Verified Carbon Standard (VCS), certifies that a tonne of CO2 has been reduced or removed from the atmosphere.

25 The average percentage annual reduction of scope 3 emissions against the 2030 reduction target compared with the 2021 base year is approximately 1.5%.

26 Distribution logistics are responsible for management of transport and distribution of finished products to clients. Industrial logistics involve the management of the flow of materials from the upstream value chain.

27 Well-to-Wheels (WtW) value. Emissions from logistics transport have been calculated in accordance with the GLEC Framework 3.1.

28 The figure is calculated by applying location-based emission factors to all scope 3 categories, except for the “Purchased goods and services” category. The emissions associated with this category, for which primary data is available, have been included in the calculation by applying the relevant market-based emission factors.

29 The percentage of scope 3 emissions calculated from primary data in 2025 is approximately 76%.

30 CO2e emissions have been calculated using regionalised emission factors for both the cultivation and farming phase of raw materials and for the production processes along the supply chain of the most important material codes for the Group. This was made possible thanks to the information collected for the purposes of the Group’s traceability goals.

31 Primary data on energy consumption from certain suppliers were used, gathered both through onsite energy assessments and through a campaign to collect specific information on the energy practices adopted at the production sites of direct and indirect suppliers.

32 Since 2024, a more accurate methodology was used to calculate the Capital goods category, as more granular data was available.  

33 This category does not apply to the Moncler Group, as the Group does not use leased assets from third parties whose impacts are not already included in the scope 1 and 2 reporting.

34 This category is not applicable to the Moncler Group since the sold products do not require further processing or transformation.

35 This category is not applicable to the Moncler Group as it does not own assets leased to other companies.

36 This category is not applicable to the Moncler Group business model, as the Group does not own franchises.

37 This category is not applicable to the Moncler Group since all the companies in which the Group invests are fully consolidated, therefore emissions are already included in scope 1 and 2 data.

38 The value considers the total weight of yarns and fabrics used for the production of the Spring/Summer (SS) and Fall/Winter (FW) 2028 collections.

39 The value is calculated considering the emissions that would have been generated if the Group had used conventional raw materials.

40 Available on the website www.monclergroup.com, in the “Sustainability / Product and innovation” section.

41 This refers to the ability of a product to be used multiple times for the same purpose without losing its functionality, performance or quality.

42 A non-profit organisation that recognises and rewards farmers for their environmental practices. 

43 Official certification body for the Gold Standard for the Global Goals, a robust standard aimed at ensuring that climate actions also contribute to the Sustainable Development Goals.

44 An organisation active in insetting since 2008, PUR Projet is a certified B Corp and a global leader in the implementation of nature-based solutions.

45 The Apparel Impact Institute (AII) is an international non-profit organisation that promotes decarbonisation in the clothing and footwear supply chain, promoting solutions for energy efficiency and the use of renewable energy.