Moncler Group | Annual Report 2024 Consolidated Financial Statements 348 Moncler Group | Annual Report 2024 Consolidated Financial Statements 349

1

Achieving Net Zero involves the overall

balance between greenhouse gas

GHG emissions produced and those

absorbed by ecosystems through

neutralisation mechanisms Specif ically

to contribute to Net Zero companies

must reduce emissions and neutralise

residual emissions

2

Promoted by CDP United Nations Global

Compact World Resources Institute

WRI and World Wide Fund for Nature

WWF the Science Based Targets

initiative establishes and promotes

bestpractice in def ining science

based targets as well as assessing

companies

objectives

in the index or rate, in the event of a change in the amount that

the Group expects to pay as a guarantee on the residual value

or when the Group changes its valuation with reference to

the exercise or otherwise of a purchase, extension or

cancellation option.

Lease contracts in which the Group acts as a lessee may

provide for renewal options with ef fects, therefore, on the duration

of the contract. Relative certainty that this option will (or won’t)

be exercised can inf luence, even signif icantly, the amount of lease

liabilities and right of use assets.

Incentive systems and variable remuneration

For the description of the determination of the fair value

of share-based incentive payments for the Moncler Group

management, please see paragraph 2.13.

The accounting policy adopted by the Group provides

for the IFRS2 reserve to be released and reclassif ied

as retained earnings when the Board of Directors resolves

on the allocation of Moncler Rights to each benef iciary.

IAS 29 Hyperinf lation

Furthermore, IAS 29 should have been applied for the Turkish

subsidiary starting from the f inancial statements as at

31 December 2022, as well as 31 December 2024, because Turkey

continued to meet the criteria for a hyperinf lationary economy

during the year. However, the accounting ef fects of applying

that accounting standard are not signif icant and thus have

not been considered in the preparation of this Annual Report.

Financial liabilities for the purchase of minority interests

and IFRIC 23

For an estimate of f inancial liabilities related to the purchase

of minority interests and IFRIC 23: uncertainty over income tax

treatments see paragraphs 2.20 and 2.16.

1.3 Impact of climate change issues

The Group def ined a climate strategy aimed at reducing

greenhouse gas GHG emissions with the intention of positively

contributing to the global goal of combating climate change

in line with the requirements of the Paris Agreement on climate

This strategy, integrated into the Group's business model, includes

medium and long-term objectives.

In particular, the Group committed to reducing absolute CO2e

emissions by 70% within Scope 1 and Scope 2 by 2030

(in line with the “1.5°C" ambition) and by 52% within Scope 3

(in line with the “Well-Below 2°C" ambition) per unit of product

sold compared to 2021.

Furthermore, Moncler Group committed to achieving

net zero emissions (Net Zero1) along the entire value chain

by 2050.

These objectives have been formally approved by the Science

Based Targets initiative (SBTi)2 and deemed consistent with

the contribution required of companies to limit the maximum

increase in global temperature compared to pre-industrial levels.

The main actions undertaken to achieve these

objectives include:

•use of electricity from renewable sources (both purchased and

self-generated);

•implementation of energy ef f iciency activities (Building

Management System — BMS, lighting systems, more ef f icient

heating and cooling, improvement of building thermal

insulation, and promotion of environmental standards

for buildings);

•adoption of low-impact environmental vehicles in the Group's

car f leet;

•obtaining LEED certif ications for new stores3 and all new

corporate buildings.

For Scope 3 emissions:

•progressive introduction of “preferred" materials in collections;

•promotion of regenerative agriculture projects;

•decarbonization of the supply chain through energy ef f iciency

measures and the adoption of renewable energy sources.

The impact of climate change has also been evaluated in relation

to estimates and assessments made in the f inancial statements.

3

Excluding Shopinshop

As of the reporting date, there are no signif icant ef fects on

the f igures presented in the Group's Consolidated

Financial Statements.

An Environmental, Social and Governance (ESG)

indicator was added to the Performance Share Plans starting

from

2020, requiring sustainability goals to be met.

In line

with this development, the medium-long term incentive

system def ined by the 2022–2024 Policy is the “2022

Performance Share Plan", which focuses on key

carbon-neutrality goals for all directly managed company sites

(of f ices, stores, production sites and logistics hubs),

the use of nylon from “preferred" raw materials (e.g., recycled

nylon, bio-based nylon), and the attainment of certif ication

for pay equity between women and men for employees

at the Italian sites in Milan and Trebaseleghe. Additionally,

as an overperformance criterion, the plan sets a further

goal for one of the leading ESG rating companies to award

a high evaluation to the Group's sustainability performance.