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Prada signs sustainability-linked loan with UniCredit
18 Feb '21
2 min read
Pic: Shutterstock
Italian brand Prada recently signed a sustainability-linked loan with UniCredit banking group. The loan is characterised 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. The targets will be certified annually by a third party.
The five-year loan, worth €90 million, is linked to the regeneration and reconversion of production waste and raising the share of self-produced energy, a release from the company said.
The Prada Group’s recent investments in the industrial sector, especially in the most delicate phases of the production process, have led to reducing production waste in clothing, leather goods and footwear while effectively managing its collection and disposal.
The group is now 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.
The investment plan for 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.
The five-year loan, worth €90 million, is linked to the regeneration and reconversion of production waste and raising the share of self-produced energy, a release from the company said.
The Prada Group’s recent investments in the industrial sector, especially in the most delicate phases of the production process, have led to reducing production waste in clothing, leather goods and footwear while effectively managing its collection and disposal.
The group is now 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.
The investment plan for 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.
Fibre2Fashion News Desk (DS)
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