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For the Moncler Group, the materiality analysis is an important tool for identifying the most significant environmental and social priorities in line with its business strategy and 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 terms of sustainability reporting, the topics deemed as material, or relevant, are those aspects that have a significant impact on the Group’s economic, social and environmental performance and that may substantially influence the assessments and decisions of stakeholders.
Accordingly, the materiality analysis takes into account not only the organisational point of view, but also that of stakeholders, on the basis of their decision-making needs and perspectives in order to communicate, through a matrix, the significance of each theme according to its positioning with respect to the axes.
The analysis is carried out regularly by the Sustainability Unit, with the support of a specialised company, through a structured process that also involves the Group’s management. The materiality analysis process consists of three stages:
• identification of all potential material aspects for the Moncler Group through analysis of company documentation (Code of Ethics, Annual Report, Strategic Plan, etc.), external literature on scenario changes1, sustainability assessment questionnaires by rating agencies, comparison with the sector, media and internet research, multi-stakeholder standards/initiatives2 and dialogue with stakeholders, including investors
• the prioritisation of aspects by the liaison officers of Moncler and Stone Island, who assess each issue from the Company’s standpoint and as spokespersons of the Group’s vision, and, starting from 2021, by the main stakeholders. Furthermore, the Strategic Committee collaborates in assessing the relevant sustainability themes in order to review the prioritisation of the themes for the annual update of the materiality matrix
• presentation of the analysis to the Board of Directors.
In 2021 the Materiality Matrix was updated pursuant the integration of Stone Island, the development of the business scenario, new emerging themes, the strategic priorities of the Sustainability Plan and in the light of the dialogue with different stakeholders. During the year, the update of the materiality analysis involved various categories of stakeholders, both internal and external to the Group. In particular, at MonCampus, the company training programme for talented young people from Moncler and Stone Island, participants were engaged to express their views in the process of evaluation and prioritisation of material issues; at the same time, suppliers, investors, media, and both end and wholesale clients, were invited to complete an online questionnaire. 183 topics were identified as material.
This update led to include three new topics: traceability, water stewardship and partnership for sustainable development.
The issue of traceability plays an important role in the management of the Moncler Group supply chain to make the entire production cycle transparent, from the origin of each component that makes up the products (raw materials, fibres, accessories, etc.) down to the production phases. Water stewardship is a significant issue for the industry and the Group, which is committed to promote the reduction of direct and/or indirect water consumption through the efficient use of water resources, analyse high water-stress areas within the supply chain and ensure the quality of wastewater throughout all garment and raw material’s production stages. The topic of partnership for sustainable development is regarded as a pillar of the Group’s strategy to build relationships with organisations, entities and suppliers that share the principles and values of Moncler and Stone Island to promote a responsible path that focuses on the wellbeing of individuals and the planet.
Following the update process of the materiality matrix, in 2021, among the main changes, the relevance of the climate change topic increased in the light of the Group’s commitments to contribute to the fight against climate change through the development of energy efficiency initiatives and the reduction of greenhouse gases at corporate sites and along the supply chain. Similarly, the materiality of the data protection and cybersecurity topic also increased, a topic that covers an important role in the management of the Group’s business.
1 Report by the World Economic Forum, the Sustainability Manifesto for Italian Fashion, The State of Fashion 2021, reports and studies by the Sustainable Apparel Coalition (Higgs index), the Ellen MacArthur Foundation and Vogue Business.
2 Global Compact, AA1000 Standard, GRI and SASB Standards, OECD Guidelines for Multinational Enterprises, Recommendations of the Task Force on Climate-related Financial Disclosures and The Fashion Pact.
3 Within the scope of the analysis, aspects related to governance, regulatory compliance, economic performance and brand reputation were considered as prerequisites and were therefore not individually included in the process, but are nevertheless accounted for in this Statement.