Purpose and Values
Milan, 19th November 2020 - Alessandra Cozzani, CFO of the Prada Group, attended online training course "The Environmental, Social and Governance dimension in the banking business" organized by the Italian Banking Association to explore various aspects of sustainable finance.
During the session dedicated to bank credits’ sustainability, Alessandra Cozzani and Crédit Agricole, one of the Group's financial partners, discussed the sustainability-linked loan co-signed in November 2019. Exploring the technical aspects of the transaction first, in particular on the reward mechanism which leads to a reduction of the interest rate based on the achievement of specific ESG targets, she then talked about the Prada Group's overall commitment to sustainability. She underlined that the Group's sustainability vision today is the combination of founding values and responses to the changes taking place in society, not least those related to the climate crisis. She then discussed how recent projects and initiatives demonstrated how the commitment to the environment, people and culture is always characterized by strong consistency with the identity of the individual brands and the values that unite them.
"We believe that Prada's commitment to sustainability is being translated into concrete programs on issues that the Group feels its own and in which it has always invested.”