73 RESPONSIBLE BUSINESS MANAGEMENT72 RESPONSIBLE BUSINESS MANAGEMENT MONCLER GROUP 2022
SUSTAINABILITY PLAN The 2020-2025 Strategic Sustainability Plan confirms the Group s commitment to sustainable development and how environmental and social responsibility are an increasingly integral part of the busi- ness model. The Plan focuses on five strategic priorities: climate change and biodiversity, circular economy, responsible sourcing, valuing diversity and supporting local communities.
ACT ON CLIMATE & NATURE Reducing emission. Embracing clean energy. Safeguarding biodiversity
THINK CIRCULAR & BOLD Designing to last. Using low-impact materials. Cutting waste
BE FAIR Ensuring trust. Tracing and sourcing responsibility
NURTURE UNIQUENESS Welcoming everyone. Celebrating diversity everywhere. Expressing ourselves always
GIVE BACK Supporting local communities. Donating time and value. Sharing warmth
For each strategic priority, the Group has defined a set of com- mitments based on an analysis of the areas where the Group can maximise positive and minimise negative impacts, also taking into consideration the challenges posed by the sector as well as the ex- pectations of the financial community and clients.
The Group s Sustainability Plan, which includes Net Zero target by 2050 and an intermediate commitment to reduce CO2 emissions by 2030, sets ambitious targets that require important choices by the Moncler Group, ranging from the use of 100% re- newable energy for direct consumption to a challenging work on its products and supply chain, where the greatest impacts are generat- ed. Another goal linked to reducing environmental impact is to have over 50% of lower-impact yarns and fabrics. The Plan also involves the ongoing work to be carried out with the supply chain on raw ma- terials traceability and on social standards, with the emerging topic of the living wage. Awareness-raising initiatives are also planned to promote and enhance diversity and strengthen an increasingly in-
clusive culture. This is why training and awareness-raising commit- ments were established for diversity, equity and inclusion and for obtaining the Equal Pay certification. The Group is also committed to support local communities with high social value projects, and to protect children and families in difficult situations from the cold. For details of all the targets of the Plan, see the following pages.
In identifying the Plan s strategic drivers and relative commit- ments, the priorities set in the 2030 Agenda for Sustainable Devel- opment (Sustainable Development Goals SDGs) were also taken into account, thereby contributing to achieving them.
Of the 17 macro goals described in the SDGs (such as com- bating inequality and fighting climate change), the Group contrib- utes to 11 of them directly or through organisations with which it collaborates.
THE SUSTAINABILITY PLAN PROCESS The Sustainability Unit, in collaboration with the heads of the rel- evant departments, identifies areas for improvement and the relevant projects and, on this basis, formulates a draft for the Sus- tainability Plan (planning phase).
The Plan is then submitted to the Strategic Committee of Moncler and Stone Island, which analyse its content and feasibili- ty. In the final stage, the Plan is evaluated by the Control, Risks and Sustainability Committee, which verifies its consistency with the Group s strategy and expresses its opinion to the Board of Direc- tors, responsible for formal approval.
Responsibility for achieving the objectives set out in the Sus- tainability Plan lies with the officers of the departments involved, who have the resources, tools and know-how necessary for its im- plementation (management phase). Within the MBO (Management By Objectives) system, social and environmental targets relat- ed to the achievement of the Sustainability Plan are set for every- one involved in the implementation of the Plan itself. With regard to medium-/long-term incentive plans, the share plan performance indicators, starting from the 2020 Performance Shares Plan , also include an ESG Performance Indicator, linked to the achievement of specific objectives of the Sustainability Plan.
To ensure compliance with the commitments made, the Sus- tainability Unit requests regular progress reports on the projects and, in turn, informs the Control, Risks and Sustainability Commit- tee (control phase).
The Plan is then updated annually in order to report on the state of implementation of the projects and to set new objectives with a view to continuous improvement, in the awareness that sustainabil- ity is not a destination, but a process of continuous improvement.