Prada Group has signed a new five-year sustainability linked loan with UniCredit banking group, worth EUR 90 million. This ESG linked loan is characterized by the application of a bonus mechanism that allows for a reduction in the interest rate upon the achievement of quantitative targets in the field of environmental sustainability.
• Regeneration and reconversion of production waste in clothing, leather goods and footwear while effectively managing its collection and disposal. The Group is committed to transferring these waste materials to third parties for their introduction into other production cycles, either through their regeneration or conversion into fertilizers or energy.
• Increasing the share of self-produced energy with the construction of photovoltaic systems in the Group’s industrial and corporate sites continues in order to ensure an increasing production of KWh/year in the period 2021-2025. A significant part of these interventions will be concentrated on the production and logistics sites in Levanella, Tuscany, with the aim of making the complex of buildings in this territory nearly self-sufficient from an energy point of view.
Alessandra Cozzani, Chief Financial Officer of Prada S.p.A., declared: “Sustainability, as a value, is now universally recognized and shared, also by the financial industry. For us and for all companies, this results in an important stimulus to achieve increasingly ambitious goals towards a sustainable economy. We are proud to be among the first players in the luxury sector to have embarked on this path and to be considered a reference counterpart in the field today”.