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Ratti Group | Sustainability Report 2022

4. transition to the circular economy, also with as applicable regulations on financial and tax
regard to reducing and recycling waste; matters.
5. prevention and control of pollution;
6. protection of biodiversity and the health of eco- Activities were considered admissible if the value of
systems. their capex and opex was equal to at least 2.50% of
the total capex and opex recorded in the financial
The Taxonomy Regulation considers activities to statements.
be sustainable (i.e. “Taxonomy-aligned”) if they
comply with various criteria, which includes making The choice is determined by an opportunity
a “substantial” contribution to at least one of the six The Taxonomy cost assessment – for admissible activities it is
criteria that have been established. necessary to assess compliance with technical
The Climate Delegated Act of 4 June 2021 sets Regulation criteria and minimum safeguards, also carrying out
out the technical criteria for selecting economic considers an analysis of the Ratti Group’s suppliers.
activities which are eco-sustainable, and which activities to be
make a significant contribution to the first two sustainable if It should be noted, however, that the current
objectives, i.e. “mitigation of climate change” and method used to evaluate admissible activities was
“adaptation to climate change”. they comply developed on the basis of current information, so it
with various should not be excluded that for the next reporting
The Ratti Group, whose core business is criteria, which year (2023) the Legislator could provide guidelines
represented by “textile finishing”, is part of a sector includes making or information that could modify the current
which is not currently one of those explicitly interpretation.
considered on the basis of the first two climate- a “substantial”
change objectives. contribution to Therefore, on the basis of these considerations and
On the basis of these considerations, in the 2021 at least one of in relation to the future publication of delegated
document it declared its non-eligibility for the the six criteria acts for the remaining four objectives, the Ratti
purposes of the Taxonomy. Group will carry out a new evaluation of its eligible
that have been activities, providing communication of this in the
In 2022, the Ratti Group carried out an assessment established. 2023 DNF.
which led it to consider as eligible capital
expenditure and operational expenditure related to
assets associated with economic activities which
the Taxonomy considers to be sustainable. FIGURE 13 – Percentage of CapEx admissible and aligned with the European Taxonomy
It should be stressed, however, that for such of total CapEx
activities the KPIs foreseen by the Taxonomy in
relation to turnover are 0, meaning that these
activities do not relate to the Group’s core business. 23.58%
In particular, the company Second Life Fibers, a CapEx of Taxonomy-aligned activities
subsidiary set up by Ratti but not yet operational,
SPESE IN CONTO
will carry out certain activities which could CAPITALE
CAPEX CapEx of Taxonomy-eligible but not aligned activities
contribute to objective 4: “transition to the circular 2.71%
economy”, and for which it will also be possible to CapEx of Taxonomy-non-eligible activities
report the KPI relating to turnover.
73.71%
The following tables show the percentage of
admissible activities and the percentage aligned
with the specific technical criteria for those
activities, and for which an analysis has been FIGURE 14 – Percentage of OpEx admissible and aligned with the European Taxonomy
carried out of the main suppliers to ensure there of total OpEx
have not been any violations or sanctions relating
to the social themes covered by the “Minimum 2.50%
Safeguards”. While awaiting further clarification
regarding application of minimum safeguarding OpEx of Taxonomy-aligned activities
guarantees, it should be noted that the Ratti 3.07%
Group, as part of its processes of selecting and
evaluating its suppliers and with regard to SA8000 SPESE OPERATIVE OpEx of Taxonomy-eligible but not aligned activities
OPEX
certification, carries out due diligence on its
partners. This regards compliance with international OpEx of Taxonomy-non-eligible activities
conventions on human rights and workers as well
94.43%
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