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ENVIRONMENT

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OUR ENVIRONMENTAL COMMITMENT

The Group's concrete commitment to protecting and safeguarding the environment has resulted in the inclusion of three ESG-related indicators among the Group's short- and long-term objectives for 2023: the definition and implementation of strategies aimed at reducing emissions, the Group's commitment to using sustainable materials, and the reduction and eventual elimination of the use of chemicals in production processes. These objectives will be assessed using three indicators that will contribute to the definition of the Group's objectives in terms of variable bonus targets, both long-term and short-term.

In line with its environmental commitment and strategy outlined above, Ferragamo has partnered with various logistic providers to offset and reduce, through carbon neutral certified projects, all CO2 emissions generated by the shipment of its products; specifically, an agreement with UPS for the products ordered through the eCommerce platform in the United States and a partnership with DHL Express for the eCommerce shipments in Europe.

As of 2016, for all the Italian facilities, Ferragamo has obtained the ISO 14064 Certification concerning the reporting of CO2 emissions, the ISO 14001 Certification, which defines an Environmental Management System and the ISO 50001 Certification, to ensure a more efficient and sustainable use of energy.

Since 2017, the Company has voluntarily participated in the CDP's Climate Change questionnaire, to favour transparency and accounting of CO2 emissions. In 2024, Ferragamo achieved a CDP Climate Change score of A- and a CDP Water score of B. Based on the 2024 CDP questionnaire, Ferragamo entered the 2024 CDP Supplier Engagement Leaderboard, ranking that celebrates the leading companies assessed for their ability to engage suppliers on the issue of climate change.

SCIENCE BASED TARGETS

Building on its commitment towards a sustainable future and in line with the level of decarbonization needed to prevent the most damaging effects of climate change, Salvatore Ferragamo Group has set science-based targets to reduce greenhouse gas (GHG) emissions. Approved by the Science Based Targets initiative, two significant goals must be achieved by 2029:

  • Reduce absolute scope 1 and scope 2 GHG emissions 42% by 2029 from a 2019 base year;
  • Reduce absolute scope 3 GHG emissions from purchased goods and services and downstream transportation and distribution 42% by 2029 from a 2019 base year.

Formed by CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF), the Science Based Targets initiative defines and promotes best practice in science-based target setting and independently assesses companies’ targets.

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EMISSIONS

With a view to mitigating the effects of climate change, Ferragamo has implemented actions and targets aimed at the reduction and offsetting of CO2 emissions. Reflecting this commitment there was a Group saving of 1,500 tons of CO2eq (-10.3%) compared to 2019 and a saving of 160 tons of CO2eq compared to 2021 (-1.2%), considering scope1 and scope2 of the Group's Science Based Targets initiative. In 2024 no reports were received and there were no significant cases of non-compliance with laws and regulations in force.

The main initiatives undertaken include the installation of Building Management Systems (BMS), which make it possible to control and monitor the mechanical and electrical systems, such as for example the microclimate and lighting, based on the quantity of natural light coming from outside, thus optimizing the operating efficiency and reducing waste. Since 2018, these systems have been installed in the Osmannoro Logistics Center, in the M building and in the stores, with the aim of monitoring energy consumption. Since 2023, Ferragamo has managed to install building management systems in 77 stores worldwide, aiming to reach 100 stores by 2025.

Furthermore, a life cycle assessment (LCA) was carried out in 2024 on the carbon emissions related to the extraction of raw materials and the production and construction of the Milan Montenapoleone Woman Store. At the same time, advice was provided on identifying alternative materials and design solutions with low environmental impact, considering criteria such as carbon footprint, durability and market availability. In addition, the work was extended to analyze the implementation of circular design principles in Ferragamo stores, using the Circular Buildings Toolkit framework developed by Arup and the Ellen MacArthur Foundation to promote more sustainable and innovative construction strategies.

LCAs were also conducted to understand the environmental impact of three of Ferragamo's best-selling and iconic items – a handbag, a ballet flat and a moccasin – and used the results to identify strategies to reduce its ecological footprint. The assessments covered around 2.55% of total production volumes and considered the “cradle-to-factory gate” perimeter, examining the processing phases that go from the extraction of raw materials to the packaging of the finished product, ready for distribution. On the other hand, the product's usage and end-of-life phases were excluded. First, an analysis based on secondary datasets was conducted to identify critical points and engage the suppliers responsible for these impacts. The latter were then involved in the collection of primary data through direct measurements at the facility, which allowed a more indepth analysis of the identified hotspots.

MOBILITY

The search for sustainable mobility solutions is also an integral part of the Group's sustainability vision, which has had a Commuting Home to Work Plan for the Osmannoro headquarter in Italy and has had a Mobility Manager for several years, with the aim of optimizing employee travel and promoting solutions that enable the reduction of environmental impacts.
Thus, a number of sustainable mobility initiatives were renewed in 2022, such as the Company carpooling service and the “Bici&Piedi” activity, both in collaboration with JoJob. Participation in “Bici&Piedi”, which allows people who walk or bike to work to take part in the initiative and reduce CO2 emissions, has also been extended to micro-electric mobility.
In 2022, the JoJob collaboration service was also extended to all Milan locations.
Finally, in 2022, the employee benefits were confirmed with a number of car and motorcycle manufacturers, whose lists include hybrid and electric vehicles, with car sharing services and with sustainable micro-mobility providers, such as “To-tem”.
In 2022, thanks to car sharing services and “Bici&Piedi” in collaboration with JoJob, there was a saving of 31,000 km, equivalent to a saving of 4 tons of CO2.
In 2023, maintaining the same cooperation with JoJob resulted in a savings of 25,000 km, equivalent to a saving of 3.2 tons of CO2.

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Biodiversity

The Salvatore Ferragamo Group believes that the protection and promotion of biodiversity are characterizing elements of the approach towards environmental responsibility and promotion of “Made in Italy” that has always characterized the Brand.
Recognizing that its activities are intrinsically connected and dependent on natural capital, in 2020 the Group has decided to further commit to the safeguard and promotion of natural resources through a Manifesto for Biodiversity.
The Manifesto formalizes the Group’s commitment in the field of biodiversity protection, with the aim of contributing positively to the safeguard of the environment through the development of strategies and initiatives aimed at minimizing the environmental impact along the entire value chain.

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CIRCULAR ECONOMY

The Brand’s commitment towards circular economy envisages a 360° approach: from the selection of circular and regenerated materials for the collections and the use of certified and post-consumer packaging, to the donation or upcycle of obsolete raw materials and the intent to strengthen the consumption of renewable energy in the next years.

With the aim of stimulating the level of collaboration and innovation necessary to create a new textile economy, aligned with the principles of the circular economy, over the years, Ferragamo has participated in networks and initiatives dedicated to the development of these issues. These include the Italian Alliance for the Circular Economy, which sees the participation of companies from various sectors, all "Made in Italy" and internationally recognized, promotes the development of business models based on collaboration, the extension of the useful life of products, the reuse of energy and utilization of renewable resources.

In 2020, by publishing a Position Paper, which identifies priority actions and valuable experiences and fosters concrete proposals for the development of circularity in Italy, the Alliance renewed its commitment to bring circular economy at the center of the political agenda. Moreover, in 2024, Ferragamo continued its collaboration with the Monitor for Circular Fashion, a multi-stakeholder project involving leading fashion companies and supply chain actors with scientific input from the SDA Bocconi Sustainability Lab. The Monitor disseminates good practices in circular fashion, enhancing technical, managerial and scientific expertise, with the aim of contributing to the transition to circular business models.

Furthermore, Ferragamo attaches great importance to product repairability, offering repair services for a selection of authentic products and in a elected boutiques, demonstrating a concrete commitment to circular economy. These services, available for items purchased in different countries and through different channels, enable customers to extend the useful life of their products and reduce the need for new resources.

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CERTIFIED RAW MATERIALS

The inclusion of materials with a low environmental impact into its collection is one of Ferragamo's top priorities. The Group has adopted specific guidelines on materials and fibers to be preferred (and conversely those to be discouraged or avoided), with the aim of promoting respect for the environment, people and the planet. The raw materials with the lowest environmental impact listed in the guidelines include, by way of example, organic cotton and silk (e.g. GOTS or OCS certified), regenerated nylon and polyester yarns, post-consumer recycled wool and cashmere, viscose from responsibly managed forests, metal-free leather and leather from Leather Working Group certified tanneries.

CERTIFIED PACKAGING

The Salvatore Ferragamo Group, in keeping with responsible management of its business, is strongly committed to reducing the consumption of materials such as paper and plastic. As regards paper packaging for the retail business, the Salvatore Ferragamo Group favors paper certified by the Forest Stewardship Council, which bears witness to correct forest management and the traceability of the paper products. The FSC logo guarantees that the product is made of raw materials harvested from forests managed according to sustainable principles. With the launch of a new vision and creative direction Ferragamo introduced new packaging by integrating additional elements of sustainability.

The new iconic red packaging, is entirely made of a new FSC-certified institutional paper, made of 80% post-consumer waste fibers. Other sustainability elements characterize the new packaging: shopping bag handles made of FSC paper and box and shopping bag reinforcing elements made of recycled cardboard. In order to promote a more sustainable luxury and to eliminate the use of single-use plastic, in 2022 the Group completed the replacement of polybags for transporting products with bioplastic and recycled and recyclable plastic alternatives, and continued the gradual replacement of labels with a 100% recycled polyester alternative. Moreover, the hangers used for Ferragamo garments are made of 100% post-consumer recycled plastic and the bags used for packaging products such as shoes, bags and accessories are Made in Italy and made of 100% cotton fabric, as are the bags used for clothing, which also have a 100% recycled polyester lining. Innovative and environmentally friendly materials are also used for the packaging of some eCommerce shipments. Since 2022, Ferragamo has been using a paper filler and since 2021 it has started using boxes made of FSC-certified and 78% recycled cardboard.

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ISO 14001
CERTIFICATION OBTAINED FOR ALL THE OFFICES AND STORES IN ITALY
ISO 14064
CERTIFICATION OBTAINED FOR ALL THE OFFICES AND STORES IN ITALY
ISO 50001
CERTIFICATION OBTAINED FOR ALL THE OFFICES AND STORES IN ITALY
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ELECTRICITY FROM RENEWABLES ON THE ITALIAN SOIL

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OUR PLACES

The Salvatore Ferragamo Group's commitment towards protecting the environment means managing and developing our places in an increasingly sustainable manner, as well. Over the years, the Group has taken action to obtain the main environmental certifications for its sites, aiming at protecting and respecting the environenment, extending this commitment to the retail area. In addition, 100% of the energy used for all the Italian sites comes from renewable sources and, to improve energy efficiency, a computerized management system - the Building Management System (BMS) - has been installed in several buildings at Osmannoro, enabling the control and monitoring of the mechanical and electric systems. Regarding Italy, the florentine site of Osmannoro underwent partial redevelopment, such as the opening of a New Logistic Hub, which obtained the LEED Platinum Certification; the creation of a green area of around 8,000 sq.m.; and, the sustainable redevelopment of building M, certified LEED Platinum, where the Manovia and the Historic Archive have been transfered. The initiatives concerning sustainability have also involved the Museo Ferragamo, which has completed a CO2 emission reporting procedure and has obtained the international standard ISO 14064, becoming Italy's first green corporate museum.

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2024
ANNUAL REPORT

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