Last update on: 9:36 am July 9, 2024 by fashionabc

TIME and Statista have collaborated to establish a robust methodology for evaluating the world’s most sustainable companies in 2024. These companies, leading the rankings, are distinguished for their commitment to prominent climate initiatives like the Science Based Targets initiative and have achieved commendable scores from the Carbon Disclosure Project. Moreover, TIME and Statista set rigorous criteria including Scope 1 and 2 emissions, energy consumption relative to company size, emissions reduction efforts in 2021 and 2022 and the proportion of renewable energy integrated into company operations.

TIME and Statista ranked Italian maison Moncler among the top five companies for its sustainable practices, appreciating its effort in recycling, renewable energy, and carbon neutrality goals. Per TIME, ‘Moncler, the Italian luxury fashion house, ranked third on the list by using recycled materials, recycling more than 80 per cent of its nylon scraps in 2023, and using 100 per cent renewable energy at its directly managed offices, stores, factories, and logistics hubs. Interestingly, the Italian luxury fashion brand is ahead of iconic brands, Hermès, Burberry and Richemont! So it’s no wonder its newest collection is doing well.

“Every day, at Moncler and Stone Island, we work to continue integrating sustainability into our business model. We do it with passion, ingenuity, humility, and necessary concreteness. We do it with the sense of urgency that environmental and social challenges require. We are on a transformational journey which requires significant changes in the way we work. This collective, transversal path involves those who work within the company as well as those who collaborate with us across the value chain,” explained Remo Ruffini, Chairman and CEO of Moncler S.p.A, in a company release when Moncler Group was confirmed in the Dow Jones Sustainability Indices World and Europe some time back.

Moncler Leads TIME and Statista 2024 Sustainability Rankings. Image: www.moncler.com

Moncler’s prominent recognition underscores its proactive measures to reduce environmental impact and advocate for a more responsible fashion sector. The brand’s achievements include More than 25 per cent of the yarns and fabrics used in the Spring Summer ’23 and Fall Winter ’23 collections handmade with ‘preferred’ materials: up from 7 per cent in 2022; more than 40 per cent of the nylon used in the Spring Summer ’23 and Fall Winter ’23 collections is made with recycled material, for example Global Recycled Standard, up from 15 per cent in 2022; more than 12 per cent of cotton used in the Spring Summer ’23 and Fall Winter ’23 collections is organic or recycled; and over 65 per cent of the merino wool used in the Spring Summer ’23 and Fall Winter ’23  collections is made with materials that are certified mulesing free, for example Responsible Wool Standard.

The luxury brand’s usage of renewable energy across its facilities underscores a tangible dedication to the energy transition. Moncler’s ambitious aim to achieve carbon neutrality by 2050 further exemplifies its forward-looking sustainability strategy. TIME and Statista have applauded these efforts, solidifying Moncler’s leadership in sustainable luxury. Moncler sets a compelling example for the fashion industry, demonstrating that excellence and environmental stewardship can  coexist, therefore inspiring others to embrace eco-conscious practices.

Prior to this honour of ranking third in TIME and Statista’s list of the world’s most sustainable companies in 2024, “Moncler Group was confirmed in the Dow Jones Sustainability Indices World and Europe, maintaining the top rank in the ‘Textiles, Apparel & Luxury Goods’ sector with the highest score (89/100) in the S&P Global Corporate Sustainability Assessment, as of December 8th, 2023,” per the luxury brand’s official website. “The Dow Jones Sustainability Index is a gold standard for corporate sustainability at a worldwide level… the index includes the leading sustainability-driven companies based on economic, environmental and social responsibility criteria, which are analyzed by S&P Global, one of the world’s foremost providers of credit ratings, benchmarks and analytics who conducts the assessment of more than 13,000 companies.”