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In order to further integrate sustainability into its business, the Moncler Group has implemented a governance that involves the interaction of various bodies dedicated to supervising and managing social and environmental topics.
The Sustainability Unit is responsible for proposing the Group’s sustainability strategy, identifying, promptly reporting to senior management and handling together with the relevant functions the risks and impacts linked to sustainability issues, including those relating to climate change, biodiversity and human rights, as well as for identifying areas and projects for improvement, thereby contributing to the creation of long-term value. It also prepares the Consolidated Non-Financial Statement and spreads a culture of sustainability within the Company. Lastly, the Unit promotes dialogue with stakeholders and, together with the Investor Relations function, handles to requests from sustainability rating agencies and socially responsible investors (SRIs).
Ambassadors have been identified within each corporate department; they are tasked with raising awareness of social and environmental issues among the departments in which they operate and promoting sustainability initiatives consistent with the Group’s objectives. In addition, Sustainability Data Owners are responsible, each for their respective area, for data and information
published in the Consolidated Non-Financial Statement and for achieving the objectives set out in the Sustainability Plan. As further confirmation that sustainability is a shared approach promoted by senior management, a Control, Risk and Sustainability Committee is established at Board level. The Committee is composed of three non-executive directors and for the majority independent. The Committee was entrusted by the Board of Directors with supervising issues of sustainability related to the conduct of business activity and the dynamics of its interaction with stakeholders, analysing strategic sustainability guidelines and the relevant action plan (Sustainability Plan), including issues such as climate change, biodiversity and human rights, and examining the Consolidated Non-Financial Statement.
The main sustainability issues analysed are periodically submitted to the Board of Directors, after consultation with the Control, Risks and Sustainability Committee, in order to:
• assess and approve the guidelines of the internal control and risk management system so that the main risks, including sustainability risks (such as those related to climate change, linked to biodiversity and human rights), are correctly identified, measured, managed and monitored
• review and approve the strategic sustainability guidelines and related action plan (Sustainability Plan), which includes objectives linked to climate change, the energy transition and the protection of human rights
• review and approve the Non-Financial Statement
• review and approve the sustainability objectives integrated into the remuneration system (both short- and medium-/long-term) ensuring the consequent alignment of top management remuneration with the company’s sustainability strategy, and including targets related to the reduction of greenhouse gas emissions and, for example, to the carbon neutrality
• in general, overseeing sustainability issues (including those related to climate change, biodiversity and human rights) related to the Group’s activity and its interactions with stakeholders.
In addition to sustainability issues, the Control, Risk and Sustainability Committee is also responsible for overseeing issues related to IT and Cybersecurity risks. Operational management responsibility for these issues rests with the Chief Technology Officer (CTO), who reports directly to the Chief Corporate & Supply Officer (and Executive Director) Luciano Santel; the Control, Risk and Sustainability Committee periodically receives an update on cybersecurity strategy developments from the CTO.
In 2022 Moncler has been confirmed for the fourth year in a row in the Dow Jones Sustainability World and Europe indices, achieving the highest score (91/100) of the Textiles, Apparel & Luxury Goods sector in the 2022 S&P Global Corporate Sustainability Assessment* (as of 14 February 2023).
In the 2022 CDP** Climate Change Questionnaire, the Group confirmed the leadership level with a score of A- for transparency and
actions to mitigate climate change risks. In 2022 Moncler also obtained an AA score from MSCI ESG Research***, which provides sustainability ratings for listed international companies and some private companies by evaluating them on their exposure to industry specific ESG risks and their ability to manage those risks in comparison to sector peers. Moncler also ranked second in the Specialised Retail sector in the ESG Overall Score
ranking of Moody’s ESG Solutions, with a score of 62/100, achieving the “Advanced” level.
In January 2023, Moncler again obtained the Sustainalytics Industry Top-Rated Badge and Regional Top-Rated Badge. Sustainalytics is a leading ESG and corporate governance rating and research firm that supports investors in developing and implementing responsible investment strategies.
* S&P S&P Global is a leading global rating, benchmark and analytics company, according to economic, social and environmental responsibility criteria.
** CDP is a non-profit organisation that manages the main environmental reporting platform and assesses companies on a scale from A to E.
*** MSCI ESG Research provides in-depth research, assessment and analysis on business practices related to environmental, social and governance issues to offer institutional investors insights to identify risks and opportunities that traditional methods of investment may overlook. The rating scale ranges from AAA (leader) to CCC (laggard).