by Mannhar Kaur
  • 1 minute read
  • November 10, 2019
Find Out Which Luxury Brand Has Become The First To Sign A Sustainability Deal

Prada has signed a five-year sustainability term loan contract with Crédit Agricole Group worth €50 million (Dhs 200 million), becoming the first luxury brand to take the initiative. The idea is to meet specific sustainable goals, such as providing training hours to its employees, adopting certified practices to be accredited by for a rebate on annual interest rates for the brand the provision of training hours to its employees, adoption of certified practices to be accredited by the Leadership in Energy and Environmental Design rating system, among others. 

“In recent years, Prada has developed new strategies in order to significantly reduce its energy consumption. We are proud to announce today that 100% of the energy that we consume on the Italian soil comes from renewable sources,” Lorenzo Bertelli, Co-chief Executive of Prada, commened about the brand’s endeavors on its official Instagram account. 

Although this is the first contract of its nature, the fashion house has undertaken several projects before, affirming its commitment to the sustainable pact with Re-Nylon and the ban on fur. The Re-Nylon project aims to utilize  Econyl regenerated yarn — created with recycled plastic waste from oceans, which is a special initiative to provide endowments towards invaluable waste, minimizing efforts of water bodies along with the employment opportunities that it creates.

[Above] Prada on attaining LEED Certification 

The brand is setting an example for luxury houses when it comes to not only its unique designs but also bold steps towards a sustainable tomorrow.

Cover Image credits: @prada

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