MILAN — Emphasizing its commitment to environmental, social and governance issues, the Prada Group presented its 2021 Corporate Social Responsibility Report on Friday.
The past year has been one of the “key milestones in the Prada Group’s sustainability journey,” Lorenzo Bertelli, head of CSR, wrote in the report, noting how ESG initiatives “are becoming increasingly visible to internal and external stakeholders.”
As reported, in January the Italian luxury group appointed two new independent non-executive directors, Pamela Culpepper and Anna Maria Rugarli, chosen for their professional background in ESG. The appointments also signaled the establishment of an ESG board committee led by Bertelli, Culpepper and Rugarli.
The committee supports the Management Board in its sustainability assessments and decisions in relation to the three courses of action that form the basis of the Group’s ESG strategy: People, Environment and Culture.
“Throughout 2021, we have been committed to fostering an internal culture that is more focused on social and environmental issues. Strong awareness combined with the group’s long-term investments made it possible [the group] to make rapid progress on important issues that have been strategic for some time, such as environmental protection and the fight against climate change,” said Bertelli.
Prada, which is part of the Fashion Pact, announced during its Capital Markets Day in November that its greenhouse gas emissions reduction targets had been approved by the Science-Based Targets initiative and that its goal is to be net-zero by 2050. achieve emissions.
Bertelli noted that in 2022 Prada will begin its carbon neutral Scopes 1 and 2, targeting a 29 percent reduction in greenhouse gas emissions by 2026 and a 42 percent reduction by 2029. It has also “set a number of other goals in terms of sustainable raw materials and packaging,” he said.
The young leader highlighted the group’s commitment to diversity, equity and inclusion, as well as its ongoing partnership with UNESCO’s Intergovernmental Oceanographic Commission for the Sea Beyond educational project, launched in 2019 and dedicated to advancing marine literacy and ocean conservation.
“These decisions demonstrate the alignment between the Prada Group’s core values and its commitment to delivering on specific projects. I believe that it is crucial to pursue a more sustainable business model, capable of responding with agility and coherence to the increasingly complex challenges of the coming years, also thanks to the fundamental commitment of our key stakeholders,” concluded Bertelli.
Among the highlights of the past year, Prada, which reported sales of 3.4 billion euros, listed the number of its employees – 13,140; 635 directly operated stores; 23 industrial plants; Investments of 217 million euros and donations of 3 million euros.
The group secured two new sustainability-related loans in 2021 and organized specific training programs for the industry sectors to provide constantly updated tools for management and analysis of the sustainability issues that have the greatest impact on the supply chain, the report said.
Last year the group also managed to switch completely to Re-Nylon.
https://wwd.com/sustainability/environment/prada-lorenzo-bertelli-group-sustainability-journey-1235180493/ Prada’s Lorenzo Bertelli on the company’s sustainability journey – WWD