Purpose and Values
“The earth’s precious biodiversity is in jeopardy. Plant and animal species are disappearing at an ever-faster rate due to human activity. Securing a thriving future for fashion means securing a thriving future for the planet’s natural ecosystems. We are committed to playing our part in halting this loss by driving positive and meaningful change.”
LORENZO BERTELLI, Prada Group Head of Corporate Social Responsibility
The Prada Group recognises that contributing to a healthy planet requires a deep responsibility to taking bold action to protect nature. The fashion industry can be a significant contributor to biodiversity loss, predominantly through the production, processing and sourcing of different raw materials.
For the Prada Group sustainability starts at home. The Group has integrated sustainable design, with a clear focus on nature, into its buildings and its garden-factories. By focusing on its own operations, the Group can set the tone for the entire supply chain and demonstrate how sustainability is increasingly embedded into the business.
The Prada Group has made vertical integration a core component of its industrial strategy.
This philosophy, which enables closer oversight of each step of the production process, ensures high-quality standards and gives the Group greater control over its supply chain from an environmental point of view.
Raw materials are an essential part of product quality and are of primary importance for all the Prada Group’s brands. As such, addressing the potential impacts on biodiversity during their sourcing, is a major focus for the Group. Actions taken in the design and specification of products have knock-on impacts further up the supply chain.
That’s why the Group is leveraging its technical expertise and closer control over the manufacturing process to progressively reduce its reliance on raw materials, applying circular principles and material innovation. This has an important role to play in reducing potential impacts to biodiversity, many of which occur during the production of raw materials themselves.
The Prada Group is committed to going further than simply reducing its impact on biodiversity, by restoring and regenerating biodiversity that has been damaged or lost. It is already taking actions through nature-based solutions that help protect and restore biodiversity by preventing deforestation and habitat loss outside its direct supply chain. As part of its climate strategy, which also includes ambitious SBTi approved scope 1-3 emissions reduction targets, the Group purchased 28,000 carbon credits which are today helping to protect high conservation value forests in Brazil, Zimbabwe, and Indonesia.
The Prada Group is also a key partner in the Forestami initiative which aims to plant three million trees across the city of Milan by 2030. The project, promoted by the Metropolitan City of Milan and a range of institutional stakeholders, will improve living conditions in the metropolitan area, as well as counter the effects of climate change.
The Prada Group is committed to taking actions which contribute to system-wide change through shifts in underlying values and behaviours.
In this context, the Group is working at an industry level to progress biodiversity preservation by signing up the Fashion Pact and its biodiversity strategy, as well as being in dialogue with The Science Based Targets Network (SBTN) and Taskforce for Nature-Related disclosures.