On 2019, Pattern achieved the ESG (Enviromental, Social and Governance) Rating with CDP and decided to demonstrate responsibility to the key environmental issues in the low carbon transition by joining the CDP 2019 Reporting on Climate Change, scoring a response level D, on year 2018.
On 2020, Pattern’s ESG Rating – focusing on 2019 –is updated and reaches a B- score. An exceptional score, almost unique in the fashion world - especially in Italy - higher than the European regional average of C, and higher than the global "Textile&Fabric Goods" global sector average of D.
By walking the path of CDP Reporting, Pattern headed out on a journey through environmental awareness and management.
Thanks to the decision to face the CDP reporting process, Pattern proofs with its willpower to be transparent on its governance structure, emissions and energy consumption. Pattern now is not only able to measure its impact and work on ambitious reduction targets towards environmental leadership, but is also able to manage its environmental risk strategically.
The ESG Rating is based on anin-depth assessment that involves three areas (Environment, Social Responsibility and Governance), always based on transparent parameters and measurable criteria and clear improvement objectives.Therefore, only transparent companies that improve themselves through measurable projects, can have in their sights the ESG Rating.
CDP works on three focus areas:
Pattern Group decided to concentrate on the Climate Change Report analyzing through a detailed questionnaire the following issues:
- Climate related risks and opportunities
- Emissions and energy data
- Governance, strategy, risk management
The idea behind the Climate Change Report is that improving corporate awareness through measurement and disclosure is essential to the effective management of carbon and climate change risk.
By reporting to CDP, Pattern can identify and tack growing risks, find the new opportunities for action being demanded by investors and customers across the world.
In addition to the 2019 CDP Climate Change Reporting, Pattern Group also received the Supplier Engagement Rating (SER) with a response level C.
The SER provides a rating for how effectively companies are engaging their suppliers on climate change.
CDP’s annual Supplier Engagement Rating (SER) is designed to evaluate and spur action on corporate supply chain engagement on climate issues. It assesses performance on supplier engagement using a company’s response to selected questions on governance, targets, value chain emissions, and value chain engagement in the CDP climate change questionnaire.
The British NGO enjoys a strong reputation and receives its mandate from a pool of institutional investor; in addition, since 2017, CDP has also been collaborating with the Italian government through MoU whose objective is the transparency of Italian companies. Data emerging from CDP reporting are used by several ESG’s research agencies, stock exchange index and financial rating as MSCI and Moody’s and are requested for low-carbon financial products as Euro Stoxx® Reported Low Carbon index.