9% 41-50
91% >50
64%
36%
Men
Women
COMPOSITION OF THE BOARD OF DIRECTORS BY GENDER
COMPOSITION OF THE BOARD OF DIRECTORS BY AGE GROUP
SUSTAINABILITY GOVERNANCE
In order to increasingly integrate sustainability into its busi- ness, 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 man- agement, 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 (Sus- tainability 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 re- quests of sustainability rating agencies and the needs of So- cially 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 sus- tainability 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-Fi- nancial 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 inter- actions 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 in- dices. Being reconfirmed as Industry Leader proves that sus- tainability 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 invest- ments, 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 fa- cility 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.
CODE OF ETHICS
Moncler s Code of Ethics and corporate policies are one of the four pillars of its corporate governance system. They govern the decisions and conduct of both the Group and its employees towards stakeholders.
The Code of Ethics consists of a set of values that the Group identifies with, shares, and promotes, in the belief that conduct inspired by principles of diligence, honesty, and loyalty can significantly drive economic and social growth. Moncler calls on all its employees and collaborators to act with honesty, passion, and integrity, and build relationships with stakeholders based on mutual trust, so that growth may be steered by shared value.
The Code of Ethics applies to all of the Group s employ- ees, suppliers, contractors, consultants, partners, and exter- nal collaborators and is available in three languages (Italian, English and Romanian).
In 2017, a comprehensive update was made to the code to align it with best international practices and to better in- tegrate sustainability issues and anti-corruption guidelines. In 2021 it will again be revised. The Code of Ethics reflects the main regulations and standards in force at national and international level on corporate social responsibility, cor- porate governance, human rights, and the environment, such as the United Nations Universal Declaration of Human Rights, the Charter of Fundamental Rights of the European Union, the decent work standards set out in ILO (Internation- al Labour Organization) conventions, and the OECD (Organ- ization for Economic Cooperation and Development) Guide- lines for Multinational Enterprises. The Code of Ethics also includes the key principles set out in the Group s Supplier Code of Conduct and in Company policies, including the An- ti-Corruption Policy, the Environmental Policy, the Health and Safety Management Policy, and the Group s policies on taxation, the management of human and financial resources, and asset protection.
The Code of Ethics is applied uniformly across all coun- tries in which the Group is present. It consists of a set of principles and guidelines that inspire and guide the way the Company operates each day, as well as the conduct of its employees and of those who collaborate with Moncler, in any capacity, in carrying out their tasks and responsibilities. It is duly shared with employees using the most appropri- ate means and in accordance with local standards and cus- toms. It is available in both Italian and English, and can be downloaded from the Group s intranet portal and corporate website. An online training programme is routinely provided to all employees to ensure the correct understanding and development of good conduct consistent with the Code of Ethics.
The code is also a fundamental and integral part of the Organization, Management and Control Model adopt- ed by Moncler in accordance with Italian Legislative Decree 231/2001 on corporate liability. That model sets forth the principles, rules of conduct, operating procedures, and dis- ciplinary code devised to prevent corporate crime and en- sure the ethical conduct of all those who act on behalf of the Company, upholding the principles of legitimacy, fairness, and transparency.
Compliance with the Code of Ethics and with the Or- ganization, Management and Control Model is monitored
47CONSOLIDATED NON FINANCIAL STATEMENT 202046 RESPONSIBLE BUSINESS MANAGEMENT