Moncler’s New Sustainability Plan Could Make the Brand Carbon Neutral By 2021
Fashion is known for the incredible amount of waste it produces. While many brands and conglomerates are taking steps to defray the environmental costs of the system’s furious cycle, few are going as far as the Italian company Moncler—and its latest initiatives suggest it’s ahead of the pack.
Inspired by its original objective of protecting wearers from the elements, Moncler’s Born to Protect Sustainability Plan revolves around five primary pillars: climate action, circular economy, fair sourcing, enhancing diversity and giving back to local communities. For every one of these primary objectives, the label has specific targets which build upon eco-conscious practices it’s already implemented as part of the Fashion Pact, a global coalition of companies dedicated to stopping climate change.
“The world is facing ever more urgent social and environmental challenges,” said Remo Ruffini, Moncler’s Chairman and CEO, in a press statement. “The pandemic is a reminder that we can, we must, always go beyond what we have already achieved if we are to make our future better. To rise to these great challenges, as individuals, as organizations and as companies, we must mobilize extraordinary energies. The kind that can only be generated by engaging people around common goals. We must welcome new ways of thinking and working, and find innovative solutions in new places.”
@Moncler, known for its down jackets, is pledging to help 100,000 people most in need and protect them from the cold by 2023. https://t.co/PRGvBUywIu
— WWD (@wwd) October 22, 2020
The biggest and perhaps most significant of its objectives is becoming carbon neutral, something the brand believes it can achieve at all of its own sites by next year. The exclusive use of 100 percent renewable energy is set to follow by 2023. Eighty percent of nylon scraps will be recycled by the same year with finished products (primarily outerwear) poised to be made from 50 percent sustainable nylon by 2025. All new key raw materials will also be confirmed 100 percent traceable within three year’s time.
Moncler’s objectives to support community both within and outside of its walls are just as robust. All of its employees will begin a three-year cultural awareness plan by 2022, the same year by which it plans to encourage 100 percent of them to volunteer their time. Its most immediate aim with real human impact, however, could be its goal of protecting 100,000 people from the cold within the next three years.
Apart from the moral imperatives involved, Moncler also has a serious financial stake in making these well-laid plans a reality. The Italian-owned company signed a sustainability-linked revolving credit facility for a maximum amount of €400 million with rewards released every time it hits specific targets. The duel impetus will undoubtedly see the skiwear giant well on its way to disrupting the industry norms.
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