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SUSTAINABILITY PLAN

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For Salvatore Ferragamo, sustainability is deeply integrated into the Business strategy.

The numerous expressions of the Group’s sustainability journey are based on an approach focused on transparency, integrity, and responsibility, with the aim of engaging stakeholders in the economic, social, and environmental goals of its operations.

Since 2017, the Group has adopted a Sustainability Plan, updated annually, with the objective of creating a shared global vision of the direction undertaken and of promoting a culture of sustainability guided by respect, protection, and the pursuit of excellence. The Plan aims to map the achievement of the set goals and to integrate new challenges for future development.

PILLARS & TARGETS

The Plan identifies 15 specific targets for each pillar and defines the individual measures to be implemented over a threeyear period. In defining the Plan, the priorities identified in past years were taken into consideration, such as those deriving from the adoption of the SDGs, the signing of the Fashion Pact and the definition of the science-based targets.

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MOVING TOWARDS NET ZERO EMISSIONS

Improve environmental performance to achieve targets set by The Fashion Pact and the Science Based Target Initative (SBTi).

ACHIEVEMENTS

FUTURE TARGETS

SBTi has validated that the science-based greenhouse gas emissions reductions targets submitted by Ferragamo conform with the SBTi Corporate Net Zero Standard and the SBTi Forest, Land and Agriculture Guidance (FLAG).

Overall net-zero target

Ferragamo commits to reach net-zero greenhouse gas emissions by 2050.

Near-term targets

  • Ferragamo commits to reduce absolute scope 1 and 2 GHG emissions 42% by 2030 from a 2023 base year and to reduce absolute scope 3 GHG emissions covering purchased goods and services, upstream transportation and distribution, and downstream transportation and distribution 42% within the same timeframe.
  • Furthermore, Ferragamo commits to reduce absolute scope 3 FLAG GHG emissions 30.3% by 2030 from a 2023 base year² and commits to no deforestation across our primary deforestation-linked commodities with a target date of December 31, 2025.

Long-term targets

  • Ferragamo commits to reduce absolute scope 1 and 2 GHG emissions 90% by 2050 from a 2023 base year and to reduce absolute scope 3 GHG emissions 90% within the same timeframe.
  • Furthermore, Ferragamo commits to reduce absolute scope 3 FLAG GHG emissions 72% by 2050 from a 2023 base year³.

For more information and details about the initiatives mentioned, please refer to the page Net Zero Emissions.

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FOSTERING MATERIALS INNOVATION

Promote innovation and use new sustainable materials.

ACHIEVEMENTS

  • Over 99% of the leather supplier turnover from Leather Working Group-certified tanneries
  • Specifically, 79% from Gold- or Silver-level certified tanneries (48% of tanneries certified against LWG Gold standards and 31% of tanneries certified against LWG Silver standards)

FUTURE TARGETS

  • 100% LWG-certified leather, while increasing uptake of other Low Climate Impact (LCI) raw materials in our collections
  • Further reduce the use of unnecessary and single-use virgin plastics in B2B and B2C packaging
  • Implement circularity principles accross all Ferragamo operations and products lifecycle

For more information and details about the initiatives mentioned, please refer to the page Materials Innovation.

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LEADING A RESPONSIBLE VALUE CHAIN

Collaborate with the supply chain to promote virtuous ESG practices.

ACHIEVEMENTS

  • Key tanneries engaged in traceability and LCA projects for environmental impact assessment and collaboration
  • 97% of supplier revenue from Italian suppliers

FUTURE TARGETS

  • ESG data from key manufacturers and raw materials suppliers to develop shared-value projects, improving their ESG practices
  • Biodiversity projects for the benefit of animal and/or herbaceous, arboreal species

For more information and details about the initiatives mentioned, please refer to the page Value Chain.

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EMPOWERING OUR PEOPLE

Promote a positive work environment and enhance talent attraction.

ACHIEVEMENTS

  • 48% of Top Management and 60% of all management positions are held by women
  • Gender Pay Gap reduced from 27% to 25%, with an Adjusted Pay Gap at 2.9% in 2024

FUTURE TARGETS

  • Attract, develop and empower people through an equitable talent journey
  • Spread and ground a culture of diversity, inclusion and equal opportunities
  • Nurture engagement and well-being activities for employees’ belonging ​

For more information and details about the initiatives mentioned, please refer to the page Our People.

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CREATING VALUE FOR GLOBAL COMMUNITIES

Creating shared value for communities worldwide.

ACHIEVEMENTS

  • Over 100 children to be treated annually thanks to the retinograph acquired for Meyer Foundation
  • Over 900,000 € raised and over 38,000 t-shirts distributed for the 22nd edition of CORRI LA VITA

FUTURE TARGETS

  • Partnerships with an international no-profit organisations to grant access to quality education for underprivileged women​
  • Leverage on Ferragamo’s Museum, Foundation, Archive to promote culture in Florence and abroad
  • Enhance transparent ESG communication for consumers

For more information and details about the initiatives mentioned, please refer to the page Global Communities.

¹ The Group’s emission intensity index is measured in tons of CO₂ emitted per million euros of turnover. It amounted to 224 tCO₂ eq/M€ in 2022, while in 2024 it decreased to 128 tCO₂ eq/M€.

² The target includes both FLAG emissions and removals.

³ The target includes both FLAG emissions and removals.

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2024
ANNUAL REPORT

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