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In order to increasingly integrate sustainability into its business, Moncler has implemented a governance system based on the interaction of various dedicated bodies that supervise and manage sustainability issues.
The Sustainability Unit is responsible for identifying sustainability risks, reporting them promptly to senior management, and handling them together with relevant divisions. It also identifies areas and projects for improvement, thus helping to create long-term value. The unit is tasked with proposing the sustainability strategy and annual targets (Sustainability Plan), preparing the Consolidated Non-Financial Statement, and fostering a culture of sustainability within the Group. Lastly, it promotes dialogue with stakeholders and, together with the Investor Relations division, handles the requests of sustainability rating agencies and the needs of Socially Responsible Investors (SRIs). Each Company department has a number of Ambassadors responsible for raising awareness of social and environmental issues within their respective areas, and for promoting sustainability initiatives in line with the Group’s objectives.
Since 2017 the Company has also designated Sustainability Data Owners, responsible for the data and information relating to their respective areas published in the Consolidated Non-Financial Statement, and for achieving the relevant targets in the Sustainability Plan.
As further evidence of the degree to which the Company’s senior management supports and promotes sustainability, the Control, Risks and Sustainability Committee was established within the Board of Directors. This committee comprises three non-executive, independent directors. It is tasked by the Board of Directors with supervising sustainability issues associated with the Company’s business operations and interactions with stakeholders, defining strategic sustainability guidelines and the relevant action plan (Sustainability Plan), and reviewing the Consolidated Non-Financial Statement. In 2020 Moncler, for the second year in a row, was named the top Industry Leader for Textiles, Apparel & Luxury Goods in the Dow Jones Sustainability (DJSI) World and Europe indices.
Being reconfirmed as Industry Leader proves that sustainability is an increasingly strategic asset for the Group’s development. Moncler also received the Gold Award from S&P Global, an asset manager specialising in sustainable investments, and was included in the ECPI EMU Ethical Equity, ECPI Euro ESG Equity, and ECPI World ESG Equity indices, focused on ESG (Environmental Social Governance) criteria.
In the realm of financial products as well, Moncler is experimenting with and adopting new mechanisms tied to sustainability performance. In July 2020 the Group signed an agreement for a sustainability-linked revolving credit facility with a reward mechanism linked to the achievement of specific environmental impact reduction targets. Moreover, in November 2020 Moncler signed an exchange risk hedge agreement that offers a reward by improving the hedge strike on currencies based on the recognition of high sustainability standards by an external, independent rating body.