PARIS – Puig continues to strengthen its commitments within the inexperienced area, most not too long ago with its first sustainability-linked mortgage for 200 million euros with Banco Sabadell.
European luxurious manufacturers – reminiscent of Richemont, Burberry and Chanel – banks and traders are cultivating a backyard of medium-term bonds, loans and revolving credit score amenities associated to particular sustainability targets in a bid to enchantment to a brand new era of traders; add worth to their companies; fulfil ESG necessities, and (final however not least) assist save the planet.
The manufacturers are underneath stress, as properly, to meet up with different industries, reminiscent of power and automotive, meals and beverage, to make their mark within the sustainability area.
Puig’s sustainable financing operation hyperlinks its margin to the evolution of two environmental indicators: the quantity of direct, and oblique, emissions generated by the electrical energy consumed and bought.
Puig has been shifting towards a extra sustainable enterprise mannequin since 2013.
“In 2020, regardless of being immersed in one of the vital troublesome contexts of latest instances as a result of well being and financial disaster brought on by COVID-19, we efficiently accomplished our first sustainability program,” stated Marc Puig, chief government officer of Puig, in a press release.
“We’re getting ready for a brand new and impressive roadmap that will probably be primarily based on reinforcing and repeatedly enhancing the 5 strategic pillars, and on integrating essentially the most vital worldwide certifications and commitments.”
Over the previous seven years, Puig achieved a 55 % discount in its carbon footprint whereas sustaining a wholesome enterprise. The group is carbon-neutral in its 4 factories that use renewable power and implement different environmental actions.
“Over the last seven years, Puig has additionally persistently achieved the objective of ‘zero waste to landfill’ at its 4 manufacturing vegetation and two headquarters by means of reuse, recycling and sending waste for power restoration,” stated the corporate.
“This operation suits completely with our decided strategy to assist our clients of their contribution to a greater future for all,” stated César González-Bueno, ceo of Banco Sabadell.
Within the first half of 2021, the financial institution has granted greater than 3.62 billion euros in sustainable financing, plus greater than 300 million euros in eco-related financing, and roughly 1.85 billion euros in loans for social functions.
Puig, with gross sales of 1.54 billion euros in 2020, sells merchandise in 150 nations and runs 26 subsidiaries.
Its magnificence and trend division consists of owned manufacturers Carolina Herrera, Nina Ricci, Paco Rabanne, Jean Paul Gaultier, Dries Van Noten, Penhanligon’s and L’Artisan Parfumeur, in addition to the licenses of Christian Louboutin and Comme des Garçons. The group’s life-style fragrances embrace Adolfo Dominquez, Antonio Banderas, Shakira and Benetton.
Puig additionally has a division for status make-up, with the Charlotte Tilbury model, and a derma division, with the Apivita, Uriage and Isdin manufacturers.
For extra, see:
Puig Income, Gross sales Decline in 2020 Because of the Pandemic
Bankers, Traders and Customers Inform Manufacturers: ‘Go Inexperienced or Go Residence‘
Circularity Is the Approach Ahead, Says Richemont in Sustainability Paper