CLIMATE STRATEGY

The Prada Group has been investing for a long time in energy efficiency, with the objective of reducing Greenhouse gases (GHGs) emissions, positively contributing to the global goal of fighting climate change.

Numerous projects have been implemented to different extent within industrial sites, corporate headquarters, and Retail spaces: from the purchase of certified renewable electricity to the installation of photovoltaic systems, from the conversion to LED lighting to the awareness of employees on a rational and correct use of energy.

The Prada Group has also achieved numerous LEED (Leadership in Energy and Environmental Design) certifications, confirming leadership among sector peers.

In line with this commitment, at the end of 2020, the Prada Group measured its first Carbon Footprint, related to 2019, that represents a fundamental step in the longer journey towards the progressive reduction of GHG emissions directly related to its operations and the value chain.

In 2021, to further strengthening the Group’s climate strategy, two ambitious carbon reduction targets have been approved by the Science Based Targets initiative (SBTi):

  • Reduce absolute scope 1 and scope 2 greenhouse gas emissions 29.4% by 2026 from a 2019 base year;
  • Reduce absolute scope 3 greenhouse gas emissions 42% by 2029 from a 2019 base year.

The scope 1 and 2 target focuses on emissions from direct operations - including electricity, gas consumption, the Group’s car fleet, and f-gas leakages.

The scope 3 target relates to indirect emissions in the Prada Group’s extended value chain. The perimeter of the analysis took into account all upstream and downstream activities of Prada’s value chain, including the sourcing of raw materials, energy consumption related to manufacturing activities of craft artisan workshops and suppliers of finished products, inbound and outbound logistics, employee commuting, energy consumption related to leased assets, business travels and waste generated in operations.  

Within the SBTi, the Prada Group also signed the most ambitious goal of the Paris Agreement, Business Ambition for 1.5 °C, and committed to reach Net Zero by 2050.

This bold climate strategy was launched in November 2021 during the company’s Capital Markets Day. On the occasion, the Group disclosed the targets approved by the SBTi and the actions to achieve reduction target for Scope 1 & 2, such as:

  • Electrification of industrial sites heating systems: planned for 5 facilities;
  • Green company car fleet: 60% green by 2022;
  • Double the self-produced energy from owned photovoltaic systems.

In addition to these, the Prada Group will keep investing in renewable energy procurement and in LEED Gold or Platinum certifications. Moreover, starting from 2022, the Group will be Carbon Neutral for what concerns GHG emissions associated with its own operations. 

CDP (Carbon Disclosure Project)

In 2021, the Company has voluntarily participated for the first time in the CDP - climate change questionnaire, to favour transparency in the reporting of CO2 emissions.

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