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CASE 3  Prada has become the first luxury brand to sign a loan tied to sustainability targets. Prada has signed a £ 42.9
  Prada's interest payments on the five-year loan will be determined annually based on whether the company has hit three specific objectives.
 The first focuses on its physical shops, setting out that a certain number of them need to be certified gold or platinum according to the green-building rating system Leadership in Energy and Environmental Design (LEED). This evaluates everything from the design and construction of a building to its management and the extent to which it uses resources and produces waste.
 The other targets are related to the amount of training hours given to employees, and reinforce a pledge made by Prada earlier this year which involves phasing out the use virgin nylon by 2021 .
 According to Prada's chief financial officer Alessandra Cozzani, linking more sustainable business practices to concrete financial rewards is an attempt to engrain these values into the very functioning of the company.
 This transaction demonstrates that sustainability is a key element for the development of the Prada Group. Beyond substituting nylon, Prada has also gone fur-free, switching to faux fur, although these are often made of plastic.
  Prada's interest payments on the five-year loan will be determined annually based on whether the company has hit three specific objectives.
 The first focuses on its physical shops, setting out that a certain number of them need to be certified gold or platinum according to the green-building rating system Leadership in Energy and Environmental Design (LEED). This evaluates everything from the design and construction of a building to its management and the extent to which it uses resources and produces waste.
 The other targets are related to the amount of training hours given to employees, and reinforce a pledge made by Prada earlier this year which involves phasing out the use virgin nylon by 2021 .
 According to Prada's chief financial officer Alessandra Cozzani, linking more sustainable business practices to concrete financial rewards is an attempt to engrain these values into the very functioning of the company.
 This transaction demonstrates that sustainability is a key element for the development of the Prada Group. Beyond substituting nylon, Prada has also gone fur-free, switching to faux fur, although these are often made of plastic.
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