Moncler leads sustainability ranking for textile and luxury firms
Moncler has announced a major sustainability accolade with the luxury outerwear company saying it’s been ranked as Industry Leader of the ‘Textile, Apparel & Luxury Goods’ sector in the Dow Jones Sustainability Indices (DJSI) World and Europe.
It’s the second year in a row that the Italian firm has taken top spot, an important position for it at a time when pandemic-hit consumers at all price levels are increasingly expecting the brands they buy to have impeccable sustainability credentials.
Chairman and CEO Remo Ruffini said the ranking “is testimony to the fact that sustainability is an increasingly strategic asset in the development of our company. It is a commitment we make to all stakeholders and a moral duty to our children and to everyone's future. We dedicate our best energies every day to promoting an integrated business model in which the people and the environment are represented, respected and protected. Only in this way we will be able to deliver a strong vision, new inspiration and renewed hope to the next generations”.
Being called out as a high performer in the DJSI is particularly important given that the index is seen as the “gold standard for corporate sustainability at a worldwide level and a trusted reference standard for investors who include sustainability considerations in the decision-making process of their investments”.
The index is arrived at by looking at economic, environmental and social responsibility criteria, which are analysed by leading credit ratings, benchmarks and analytics provider S&P Global.
Moncler recently unveiled its Born To Protect plan that focuses on five strategic drivers, including climate action, the circular economy, fair sourcing, enhancing diversity, and giving back to local communities.
But even before this, it had achieved sustainability goals such as 100% of its purchased down bering traced and certified according to the DIST Protocol since 2015; 90% of product packaging being made with sustainable materials; and a 30% cut in direct CO2 emissions in the last three years.
Interestingly, back in July, the company also signed a sustainability-linked revolving credit facility granted by Intesa Sanpaolo with a reward mechanism linked to the achievement of environmental reduction targets.
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