SUSTAINABILITY GOVERNANCE In order to increasingly integrate sustainability into its business, the Moncler Group has implemented a governance that involves the interaction of different bodies dedicated to supervising and managing social and environmental issues.
The Sustainability Unit is responsible for proposing the Group s sustainability strategy, identifying, reporting prompt- ly to senior management and handling together with relevant divisions the sustainability risks, including those relating to cli- mate change and biodiversity, as well as for identifying areas and projects for improvement, thereby contributing to the creation of long-term value. It prepares the Consolidated Non-Financial Statement and spreads the culture of sustainability within the Company. Lastly, the Unit promotes dialogue with stakeholders and, together with the Investor Relations division, handles the re- quests of sustainability rating agencies and of Socially Respon- sible Investors (SRIs).
Ambassadors have been identified within each corporate department; they are responsible for raising awareness of social and environmental issues among the departments in which they operate and for promoting sustainability initiatives in line with the Group s objectives. In addition, since 2017, Sustainability data owners were designated, with responsibility for data and informa- tion, relating to their respective areas, published in the Consoli- dated Non-Financial Statement and for achieving the relevant objectives set out in the Sustainability Plan.
As further evidence that sustainability is a shared approach promoted by senior management, a Control, Risk and Sustainabil- ity Committee was established at Board level. The Committee is composed of three non-executive and independent Directors. The Committee is tasked by the Board of Directors with supervising issues of sustainability related to the business operations and the interactions with stakeholders, defining strategic sustainability guidelines and the relevant action plan (Sustainability Plan), in- cluding issues such as climate change, biodiversity and human rights, and examining the Consolidated Non-Financial Statement.
INDEPENDENT ESG RATINGS AND ASSESSMENTS In 2021 Moncler has been confirmed for the third year in a row in the Dow Jones Sus- tainability Indices World and Europe, obtaining the highest score (89/100) of the Textiles, Apparel & Luxury Goods industry according to the S&P Global Corporate Sustainability Assessment 2021. This result demonstrates that sustainability is an increasingly strategic asset for the Group s development. Moncler also received the Gold Award from S&P Global1.
During the year, Moncler participated for the first time in the CDP Climate Change questionnaire. CDP2 is a non-profit organisation that runs the world s leading envi- ronmental disclosure platform that assesses companies on the completeness of their climate disclosure, their awareness and management of environmental risks and best practices associated with environmental leadership, such as setting ambitious and meaningful targets as part of the management of climate change. The Company has achieved the leadership level with an A- score for its environmental transpar- ency and actions to mitigate climate change risks. Moncler was also recognised as a Supplier Engagement Leader.
In 2021 Moncler also obtained an A score from MSCI ESG Research3, which pro- vides sustainability ratings for listed international companies and some private companies according to their exposure to industry-specific ESG risks and their ability to manage those risks if compared to industry peers.
In 2022 Moncler also obtained the Industry Top-Rated Badge and the Regional Top- Rated Badge from Sustainalytics, a leading ESG and corporate governance research and rating company that supports investors in developing and implementing respon- sible investment strategies.
CODE OF ETHICS The Code of Ethics and corporate policies are one of the pillars of the Moncler Group s corporate governance system and gov- ern the decisions and conduct of the Moncler and Stone Island brands and of their employees towards their stakeholders.
In 2021, following the entry of Stone Island into Moncler, an analysis of the two Brands Codes of Ethics was carried out and confirmed their alignment in terms of values and principles; this will lead to the definition of a Group s Code of Ethics.
The Codes of Ethics currently adopted by Moncler and Stone Island encompass the set of values that both Brands recog- nise, share and promote, in the belief that conduct inspired by the principles of diligence, honesty and loyalty is an important driv- er of economic and social development. Employees and collabo- rators are required to act with honesty, passion and integrity and to build relationships with stakeholders based on mutual trust, so that growth is guided by the principle of shared value.
The Codes apply to all employees, suppliers, contractors, consultants, partners and external collaborators of the two Brands and are available in Italian and English, as well as in Romanian for the Moncler document.
The Codes are periodically updated in order to align them with international best practices and to integrate them with sus- tainability issues. In particular, in 2021 the Respect for human rights and Addressees sections of Moncler s Code of Ethics were updated. Both Codes are inspired by the main existing na- tional and international regulations and standards on corporate social responsibility, corporate 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 the ILO (Internation- al Labour Organisation) conventions and the OECD (Organisa- tion for Economic Cooperation and Development) Guidelines for Multinational Enterprises. The Codes of Ethics refer to the key
1 S&P Global is among the world s foremost providers of ratings, benchmarks and analytics according to economic, social and envi- ronmental responsibility criteria.
2 CDP evaluates businesses on a scale from A to E. 3 MSCI ESG Research provides in-depth research, ratings and anal-
ysis of the environmental, social and governance-related business practices providing critical insights that can help institutional in- vestors identify risks and opportunities that traditional investment research may overlook. The rating scale ranges from AAA (leader) to CCC (laggard).
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