Moncler Tops Dow Jones Sustainability Indices for Third Year in a Row
MILAN — For the third year in a row, Moncler topped the Dow Jones Sustainability Indices (DJSI) World and Europe, as industry leader of the “Textile, Apparel & Luxury Goods” sector, with the highest score — 89/100 — according to the S&P Global Corporate Sustainability Assessment 2021.
This acknowledgement has “an even stronger meaning today as our common future cannot tolerate hesitations and lack of ambition any longer,” said Moncler’s chairman and chief executive officer Remo Ruffini. “If I look back and think about every single person’s commitment at Moncler, I believe we’ve done a lot in these years to integrate sustainability in our business model. However, if I look ahead to the urgent social and environmental challenges, I realize that we need to gear up. Young generations are disillusioned and keep reminding us that the time of words has now ended and there is only room left for action.”
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The Dow Jones Sustainability Index ranks the leading sustainability-driven companies based on economic, environmental and social responsibility criteria, which are analyzed by top credit ratings provider S&P Global.
The executive continued by saying that “every day at Moncler, this responsibility urges us to look critically at the impact of our decisions and commit to change what it needs to change. It’s not always easy and we do not always succeed, but we don’t give up. We continue to work with our suppliers to develop materials with a lower environmental impact, we’ve started recycling our nylon scraps and our down in a circular economy perspective; in a few months we will become carbon-neutral at our own sites around the world, we have defined science-based objectives for reducing carbon emissions and we’re proceeding with the elimination of all conventional single-use plastic.”
Ruffini gave credit to everyone at Moncler, “living the challenges of sustainability every day with awareness, commitment, courage and humility.”
The Dow Jones Sustainability Index ranks the leading sustainability-driven companies based on economic, environmental and social responsibility criteria, which are analyzed by top credit ratings provider S&P Global and is a reference standard for investors who include sustainability considerations in the decision-making process of their investments.
Every year Moncler reports on its sustainability performances and targets in its consolidated nonfinancial statement, and last year it presented its strategic sustainability plan Born to Protect, which focuses on five strategic drivers: climate action, circular economy, fair sourcing, enhancing diversity and giving back to local communities.
To date, Moncler lists achievements including 100 percent of down traced and certified according to the DIST Protocol since 2015; around 30 percent of Moncler Genius 2021 outerwear products entirely made of sustainable fabrics; 50 percent renewable energy at worldwide level, estimated to reach 80 percent this year, and 50,000 children protected from the cold in collaboration with UNICEF in the last four years.
Last year, Moncler, which is a signatory of the Fashion Pact, signed a financing credit line granted by Intesa Sanpaolo SpA for a maximum amount of 400 million euros and based on a rewarding mechanism linked to the achievement of environmental impact reduction targets, similar to other brands in the industry such as Prada and Salvatore Ferragamo.
That was followed by an agreement for foreign exchange risk hedging with Intesa Sanpaolo, which provides for a premium in terms of improvement in hedging strikes on currencies based on the recognition of high sustainability standards by an external and independent assessment body.
The Born to Protect plan includes precise targets for the company to meet, such as reducing its environmental impact by becoming carbon-neutral at its own sites, the recycling of fabric scraps and the use of sustainable nylon, as well as the elimination of conventional single-use plastics, among others.
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