ESG Loans

The most recent agreement was completed in July 2021 with Intesa Sanpaolo for a total amount of EUR 100 million, followed by another ESG loan in February 2021 with UniCredit worth EUR 90 million.

These two loans are linked to the following KPIs:
 

• Regeneration and reconversion of production waste:

The Prada Group’s recent investments in the industrial sector, especially in the most delicate phases of the production process, have led to a reduction in production waste in ready-to-wear, 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, through regeneration or conversion into fertilizers or energy.

• Increasing the share of self-produced 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.

These facilities follow a first five-year loan with Crédit Agricole in 2019, worth EUR 50 million, followed by a second EUR 75 million five-year term loan, with the Japanese bank Mizuho in January 2020.

Both monitor the achievement of the same specific targets related to:

• the number of stores assigned of a LEED Gold or Platinum Certification;
• the amount of training hours for employees;
• the use of Prada Re-Nylon (regenerated nylon) for the production of goods.