For the Moncler Group, the materiality analysis is an important tool for identifying the most significant environmental and social priorities for its stakeholders in line with its business strategy and business impacts, identifying and managing risks and opportunities and defining the contents of the Consolidated Non-Financial Statement according to the Global Reporting Initiative (GRI) international reporting standard.
In keeping with the update to the most recent 2021 GRI Universal Standards, the Group adopted a new methodological approach in conducting the materiality analysis, which includes the concept of due diligence and strengthens the one of impact, to offer a complete picture of business risks and creation of long-term value. In particular, the new GRI 3 – Material Topics 2021 emphasises the need for organisations to identify the effects that the organisation has or could have on the economy, environment and people, including on human rights, which in turn may indicate their (negative or positive) impact to sustainable development.
The materiality analysis takes into account both the areas provided for in Legislative Decree 254/2016 and the characteristic aspects of the industry in which the Group operates, to the extent necessary to ensure an understanding of the Group’s activities, performance, results and impact generated by the Company itself.
According to this new approach, the Moncler Group’s context, activities and business relationships 18 material6 topics have been identified. These topics reflect the organisation’s most significant actual and potential impacts on

aspects such as the economy, environment and individuals, including impacts on human rights (“impact materiality”).
The analysis, which since 2015 has been carried out regularly by the Sustainability Unit with the support of a specialised firm, also in 2022 consisted in a structured process involving the management of both Moncler and Stone Island and the Sustainability Unit team as experts in the various areas of competence assessed. The materiality analysis process was divided into four phases, as defined by GRI 3 – Material Topics 2021:

understanding the context through an analysis of the Group’s activities, business relationships, the sustainability context in which they take place and the relevant stakeholders, with the aim of collecting the information necessary to identify actual and potential impacts. In addition to the internal documentation, a comparison with the reference sector was made

identification of the nature of actual and potential impacts, negative and positive, short- and long-term, predictable and unpredictable, reversible and irreversible, on the economy, environment and individuals, including impacts on human rights, arising from the organisation’s activities and business relationships analysed in the previous phase (inside-out perspective). The impacts were identified through the analysis of corporate documentation (Code of Ethics, Annual Financial Report, Strategic Plan, as well as the results of the risk assessment carried out by the Internal Audit function), external literature on

scenario changes7, questionnaires by sustainability rating companies, comparison with the sector, media and internet research and multi-stakeholder standards/initiatives and dialogue with stakeholders8, including investors

assessment of the significance of the impacts identified through a quantitative and qualitative analysis through one-to-one interviews with the top management of both Brands, who were asked to assess the combination of the severity of the potential impact and the likelihood of occurrence of the residual risk, i.e. net of the activities implemented or planned by the Group to manage the impacts.

The most significant impacts and the related material topics were subsequently submitted to the Board of Directors, following the assessment by the Control, Risks and Sustainability Committee, for approval for reporting purposes.
This update led to the definition of a list of 18 material topics for the Moncler Group, broken down into the five strategic priorities of the 2020-2025 Sustainability Plan and listed in alphabetical order.
With respect to the list of issues reported in the 2021 Consolidated Non-Financial Statement a new topic relating to waste and garments end of life has been included.
With the aim to continuously improve the process, even if clear official guidelines are not yet available, in the first half of 2023, the Group finalised a pilot project adopting an innovative approach, the so called ‘double materiality‘.


6 In the analysis, governance, legal compliance, economic performance and brand reputation aspects were considered as prerequisites and were therefore not individually included in the process, but are still reported in this Statement.

7 Report by the World Economic Forum, the Sustainability Manifesto for Italian Fashion, The State of Fashion 2022, reports and studies of the Ellen MacArthur Foundation and Vogue Business.

8 Global Compact, AA1000, GRI and SASB standards, OECD Guidelines for Multinational Enterprises, Recommendations of the Task Force on Climate-related Financial Disclosures, The Fashion Pact and DIST forum.