Prada’s Lorenzo Bertelli on the company’s sustainability journey – WWD
MILAN — Underlining 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 “significant milestones in the Prada Group’s sustainability journey,” CSR head Lorenzo Bertelli 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, selected for their professional background in ESG. The appointments also marked the creation of an ESG board committee led by Bertelli, Culpepper and Rugarli.
The committee supports the Board of Directors in its evaluations and decisions in terms of sustainable development concerning the three areas of action on which the group’s ESG strategy is based: people, the environment and culture.
“Throughout 2021, we are committed to promoting an internal culture more focused on social and environmental topics. The group’s strong reputation and long-term investments have enabled [the group] to move quickly on key topics that have had a strategic role for some time, such as environmental protection and the fight against climate change,” said Bertelli.
Prada, which is part of the Fashion Pact, at its Capital Markets Day in November revealed that its targets for reducing greenhouse gas emissions had been endorsed by the Science-Based Targets initiative and that its goal was to achieve net zero emissions by 2050.
Bertelli pointed out that in 2022, Prada begins its carbon neutral scopes 1 and 2, aiming for a 29% reduction in GHG emissions by 2026 and a 42% reduction by 2029. He also set “a series of other objectives”. in terms of raw materials and sustainable packaging,” he said.
The young executive highlighted the group’s commitment to diversity, equity and inclusion and the ongoing partnership with UNESCO’s Intergovernmental Oceanographic Commission for the Sea Beyond educational project, which was launched in 2019 and is dedicated to promoting knowledge and preservation of the oceans.
“These choices demonstrate the consistency between the fundamental values of the Prada Group and its commitment to carrying out concrete projects. I believe that it is crucial to pursue a more sustainable business model, able to respond in an agile and coherent way to the increasingly complex challenges of the years to come, thanks in part to the fundamental commitment of our key stakeholders. concluded Bertelli.
Among the highlights of last year, Prada, which reported revenues of 3.4 billion euros, listed the number of its workforce – 13,140; 635 directly operated stores; 23 industrial sites; investments of 217 million euros and donations of 3 million euros.
The group obtained two new sustainability-related loans in 2021 and organized specific training programs for industrial divisions to provide constantly updated tools to manage and analyze the sustainability issues that have the most impact. on the supply chain, the report says.
Last year, the group also made a complete conversion to Re-Nylon.