Gucci: first agreement for the sustainable transition of the supply chain
Intesa Sanpaolo and Gucci have signed an agreement – the only one of its kind in Italy – that aims to support the companies in the Gucci supply chain in their efforts to improve their social and environmental sustainability.
Thanks to the first sustainable supply chain project, leading firms in the Gucci supply chain will be able to benefit from easier access to lines of financing for the transition of their business to environmental and social sustainability, in line with the priorities of the National Recovery and Resilience Plan (NRRP).
The agreement between Intesa Sanpaolo and Gucci represents an innovative model for supporting for Italian economic excellence based on sustainability and launched at a turning point for Italy: the arrival of funds from the Next Generation EU (NGEU) programme.
Underlying the first sustainable supply chain project is Intesa Sanpaolo’s “Supply Chain Development” programme, a partnership model aimed at supporting the development and enhancement of suppliers in supply chains by granting them important advantages on the cost and accessibility of credit as a result of pooling creditworthiness with the lead company, also used in 2020 to cope with the COVID-19 emergency.
Thanks to the “Supply Chain Development Programme”, in 12 months more than 150 suppliers in the Gucci supply chain throughout Italy have benefited from loans from Intesa Sanpaolo for over €230 million.
These measures have made it possible to support sector SMEs in achieving their projects aimed at growth in the community, internationalization and revamping of their production systems.
They include Italian companies and artisan workshops operating in the leather goods, shoes, accessories, clothing and jewellery sectors, and employing over 20,000 people. Overall, Intesa Sanpaolo’s “Supply Chain Development Programme”, launched at the end of 2015, has made available over €6 billion in loans for the more than 20,000 suppliers who are members of the more than 800 supply chains formed.
Companies in the Gucci supply chain will be able to access S-Loans, medium-long term loans that provide companies with financial support to make innovative investments based on ESG (Environmental, Social, Governance) criteria, including:
- Energy efficiency and savings (waste reduction or increased recycling, reduction of water consumption/discharges, reduction of use of hazardous chemicals, reduction of single-use plastic packaging, recovery of raw materials)
- Introduction of “green” mobility/logistics projects
- Development of renewable source energy production plants
- Adapting business models to foster the development of the circular economy
- Launch of initiatives aimed at promoting the percentage of female workers at the company and supporting professional growth through the creation of training processes and the acquisition of new skills
- Definition and implementation of welfare policies and tools aimed at guaranteeing equality and reducing the gender gap (opportunities for growth within the company, equal pay for equal tasks, policies for managing gender differences, work-life balance policies and maternity protection)
- Adoption of a transparent gender equality certification system and implementation of initiatives to develop and raise awareness on gender equality.
Last updated 21 July 2021 at 16:05:14