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CHAPTER 6 | GOVERNANCE AND MONITORING OF CORPORATE ETHICS AND RISK

The main risks The scale of these risks is recognised by the
relating to climate change various actors. In 2020 eight of the ten biggest
Identifying, evaluating and managing risks, risks – in terms of impact or probability –
as well as the opportunities associated with identified by the World Economic Forum in its
climate change, has become essential to Global Risk Report, related to environmental
guaranteeing the creation of value in the long phenomena.
term, to the point at which institutions and the
business world have markedly accelerated their The fashion sector is one of the sectors which is
legal efforts as well as the action they take to driving the fight against climate change.
prevent and manage the effects. 2015 was a
turning point in the fight against climate change The risks associated with climate change are
thanks to the adoption of the Paris Agreement basically of a nature which is exogenous to Ratti.
and the launching of initiatives such as the Task The Company, to mitigate the impact of these
Force on Climate-related Financial Disclosures risks rather than look for opportunities, retains
(TCFD) to identify the risks and opportunities that it should continue with the sustainable
associated with changes to the economic- pathways/projects already under way.
financial system.

TABLE 4 – PRINCIPAL RISKS ASSOCIATED WITH CLIMATE CHANGE IN THE RATTI GROUP

DESCRIPTION OF THE MAIN RISKS MITIGATION ACTION TAKEN

In the long term the increase in temperatures Since 2013, Ratti SpA has taken significant steps to boost efficiency in water use. This has resulted in a saving of 31%
could carry the risk that water procurement per metre produced in 2019 compared with 2013 (see the environmental declaration of 27/12/2021 in accordance with
will face difficulties. ISO14021). The main interventions include:
- a new Arioli washing line and rope MCS, discontinuous washing systems;
- optimisation of work planning and replacing tanks;
- new silk scouring machinery.

In the long term climate change could have The company spreads its risks, given that it deals with different types of fibre.
a negative impact on the production/quality
yield of natural fibres (cultivation, breeding), In Ratti, policies have been in place for some time with regard to loyalty/partnership in the supply chain, as well as
so the Company could find it difficult to source differentiation in the supplier base to ensure business continuity.
raw materials.
The same criteria may be observed for
synthetic fibres if there is a scarcity of energy.

During the period of transition a scenario Participation in Italian/European associations and working groups to safeguard the textile supply chain.
could arise in which European climate change
legislation is stricter than it is in the rest of the Enhancement of the sustainable content of materials and market-oriented manufacturing.
world, with a consequent increase in costs
and loss of competitiveness in European Investments made in sustainability since the beginning of the 2000s.
companies.
Of fundamental importance will be the
approach adopted by customers to
sustainability and the consistency they
demonstrate.

During the transition period climate change- In Ratti, policies have been in place for some time with regard to loyalty/partnership in the supply chain, as well as
oriented legislation could lead to the differentiation in the supplier base to ensure business continuity. There will also be future audit processes in strategic
closure of production sites, with subsequent suppliers.
difficulties obtaining raw materials/services.

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