Moncler Group | Annual Report 2024 Board of Directors’ Report 102  | ’

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• the periodic review, at least once a year, of the adequacy

and ef fectiveness of the ICRMS with respect to the

characteristics of the Company and the risk prof ile assumed,

as well as its overall ef fectiveness.

Regarding sustainability matters, the Control, Risks

and Sustainability Committee, among other things, assists

the Board of Directors:

• on an annual basis, reviews the Sustainability Plan,

the Sustainability Statement and the results of the double

materiality analysis in line with the requirements

of the European Sustainability Reporting Standards (ESRS);

see also pages 113–117; 124–128;

• reports to the Board of Directors at least every six months

on the progress of projects that contribute to achieving the

objectives of the Sustainability Plan;

• supports, with adequate oversight activity, the assessments

and decisions of the Board of Directors relating to

the management of risks deriving from prejudicial events

of which the Board of Directors has become aware of.

As part of its activities, the Control, Risks and Sustainability

Committee, at least every six months, requests updates from

the Sustainability Unit on sustainability topics and the related

actions taken, including the evaluation and management impacts,

risks and opportunities related to environmental, social

and

governance (ESG) matters.

The Sustainability Unit is responsible for proposing

the Group’s sustainability strategy and identifying, promptly

reporting to top management, managing and monitoring,

in collaboration with the relevant departments, the impacts,

risks and opportunities related to sustainability matters.

In particular, the Unit:

• in order to def ine a sustainability strategy, identif ies areas

for improvement and related projects thanks to the

collaboration with the heads of the relevant department,

on this basis formulates a draft for the Sustainability

Plan planning phase

submits the Sustainability Plan to the Strategic Committee

of Moncler and Stone Island two internal committees

within the Group composed of Executive Directors strategic

managers and other function managers who analyse its

content and feasibility In the f inal stage the Plan is assessed

by the Control Risks and Sustainability Committee

which verif ies its consistency with the Groups strategy and

expresses its opinion to the Board of Directors which is

responsible for f inal approval

identif ies the of f icers responsible for achieving the objectives

set out in the Sustainability Plan who have the resources

instruments and knowhow necessary for its implementation

(management phase). The achievement of these objectives

is linked to the Management By Objectives (MBO)

system as well as to medium/long-term incentive plans.

See also pages 104; 154; 243–244;

•to ensure the commitments made are upheld, requests

an account of the progress of the projects to the various

departments and, in turn, informs the Control, Risks

and Sustainability Committee every six months (control phase);

•provides annual updates on the Sustainability Plan, in order

to report on the state of implementation of the projects

and to set new targets where necessary, with the awareness

that sustainability is not a destination, but a process

of continuous improvement;

•draws up the Sustainability Statement and spreads the culture

of sustainability within the Group;

•promotes dialogue with stakeholders and, in particular

together with the Corporate Af fairs & Compliance

and Investor Relations departments, with institutional

investors and responds to requests for information

from sustainability rating agencies and Socially Responsible

Investors (SRI).

In order to increasingly integrate sustainability into the business,

within each company department the so-called Ambassadors

were then identif ied, with the responsibility of raising awareness

of social and environmental issues in the departments in which

they operate and promoting sustainability initiatives consistent

with the Group’s goals, and the Sustainability data owners,

who are instead responsible, each within their own area, for

the data and information published in the Sustainability

Statement, as well as for achieving the objectives contained

in the Sustainability Plan for the relevant topics.

Nomination and Remuneration Committee

The Company has a single Nomination and Remuneration

Committee, in accordance with the provisions of Articles 4 and 5

of the Corporate Governance Code

The Committee was appointed by the Board of Directors at

its meeting on 21 April 2022 and will remain in charge until

the approval of the 2024 f inancial statements The Nomination

and Remuneration Committee is composed of the following

Directors who have the necessary expertise and professional

experience to fulf ill the Committees duties Diva Moriani

as Chairman Alessandra Gritti and Marco De Benedetti

The composition meetings objectives duties and activities

of the Committee are fully aligned with the recommendations

of the Corporate Governance Code