Fnac Darty receives A2 Sustainability Rating with an ESG Assessment of 54/100 from V.E (Moody’s ESG Solutions), up +6 points year on year and is ranked 8th among its sector
FnacDarty receives A2 Sustainability Ratingwith anESG Assessment of 54/100 from V.E (Moody’s ESG Solutions),up +6 pointsyear onyear and isranked 8th amongits sector1
- ESG Assessment improves in each E, S and Gcomponentwith asharpincrease intheenvironmentalpillar(+14 points vs. 2020)
- Withan ESG Assessment well above the sector averagein Europeof 35/100, Fnac Darty is ranked 8th out of 74 companies in its sector1, up one placeyear on year
- Improved transparency of reportednon-financial information, up +4 pointsyear on year to 95%, well above the sector1 average of 67%
Following the ESG and Sustainability Rating conducted by V.E (Moody’s ESG Solutions), Fnac Darty has obtained a solicited A2 Sustainability Rating and an ESG Assessment of 54/100, up +10 points in two years from V.E. The Group in now within V.E’s "Robust" category and is among the Top 20 % worldwide2 for the third year in a row. This performance once again highlights Fnac Darty's ambitious CSR policy and environmental, social, ethical and governance commitments — as pillars of its strategic plan Everyday.
V.E particularly valued this year the strengthening of Fnac Darty's commitment to improving the sustainability of its products, developing repair services and strengthening its circular economy and recycling activities.
Enrique Martinez, Chief Executive Officer of Fnac Darty,declared: “I am very proud that our social and environmental commitments have once again been recognized and valued. They identify us as a leader in sustainable consumption and are at the heart of our strategic plan Everyday, whose goals for 2025 are largely based on extra-financial challenges.”
Since 2018, Fnac Darty has used its raison d’être, which is "to commit to providing an educated choice and sustainable consumption," to integrate all of its CSR challenges into its business model. This sustainable dimension is fully integrated into its strategic plan Everyday, which aims to accompany changing consumption patterns and make Fnac Darty the leader in sustainable consumption in its sector, notably by focusing on product life span, selection and advice, and the development of more responsible services. In order to incorporate these challenges into its strategy and the day-to-day operations of its business lines, the Group has adopted a decentralized approach to CSR. Extending to the highest level of the Company, the CSR Department reports to the General Secretary, and relies on various bodies and business line representatives to manage and assess the Group’s CSR strategy. In addition, the Group relies on a strengthened social policy based on the work of nearly 25,000 skilled employees through an HR policy focused on talent management and employee employability.
With broad geographical coverage including 923 stores in 12 countries as of the end of June 2021, Fnac Darty is a Group rooted in communities: its ambition is to share cultural creation, new technologies and innovative services with as many people as possible, while promoting employment and solidarity. Through the development of training, quality of life at work and equal opportunities, the Group is committed to protecting the quality of its employees' expertise, their employability and their commitment. For example, Fnac Darty aims to have at least 35%3 women in its top 200 managers by 2025.
France's leading repairer for 50 years—with more than 2 million call-outs (at home, after-sales service workshop, stores), 2 million telephone calls and 1.7 million products repaired in 2020 by more than 2,500 technicians—the Group wishes to recruit 500 additional technicians by 2025, who will be trained via the 13 classes it opened in 2021. Fnac Darty is also the leading collector of WEEE (Waste Electrical and Electronic Equipment) with over 49,000 metric tons of products collected every year for recycling and recovery at Group level, of which nearly 45,000 metric tons are collected in France alone. In addition, a Circular Economy Committee was created in 2021, chaired by the General Secretary of the Executive Committee, with the objective of managing waste recycling.
The Group is pursuing its approach to more responsible consumption by acting on three main drivers.
Firstly, the Group wishes to continue its efforts to provide information to customers in order to guide their choices toward more sustainable products. This is aided by the sustainability score4, which is visible online and in store and is expected to reach a level of 135 by 2025 (compared to 100 in 2019 and 105 in 2020). This independent tool owned by Fnac Darty is based on our after-sales repair database—the only one on the market—which rates products on their reliability and the availability of spare parts. This indicator weights the volumes of each product sold during the year by their sustainability scores. The Group uses this sustainability score to establish its "After-Sales Service Barometer," the 4th edition of which was published in September 2021. This allows consumers to find out about the sustainability and reliability of products and brands, while enabling the industry to take stock of the extension of a product’s life span and identify the margins for progress in this area. Finally, the Group recently launched L'Eclaireur Fnachttps://leclaireur.fnac.com/, a digital media site whose objective is to support readers by providing content designed to enlighten their opinions and choices on major themes related to the worlds of culture and technology.
The Group also wants to expand its offer of sustainable products, with the possible discontinuation of Marketplace partners and products that do not meet the sustainability criteria. The massive development of its second-life and used-product collection offer also contributes to the Group's circular economy. The Group's ambition is to integrate all “unsellable” new products into a second-life channel by 2025.
Lastly, services enabling customers to use better in order to consume better, and to repair more, have been strengthened with an objective of 2.5 million repaired products per year by 2025 (i.e. 50% more than in 2019). To achieve this, the Group is encouraging consumers to get more items repaired by continuing to open WeFix corners (the leader in express repairs for smartphones and tablets), rolling out the Darty Max unlimited repair subscription offer, and encouraging repair communities with a new website dedicated to the sale of spare parts in 2021.
Fnac Darty has also asserted its environmental strategy, setting a quantified objective of reducing its CO2 emissions by 50% by 2030, compared to 2019 levels. The scope defined at Group level concerns transport, direct and indirect emissions, and site energy. For example, the Group uses renewable energy at 98% of its sites outside France and 14% of its sites in France. The Group is optimizing its transport plans and warehouse network to limit the distances products have to travel and is also replacing its transport fleet with alternative fuel versions.
Fnac Darty is determined to continue its efforts in this area and aims to submit its objectives for approval by the Science Based Target (SBT) initiative. It also plans to define an objective for reducing its indirect emissions (scope 3) generated by products sold throughout their life cycle, as well as employee travel and IT systems, thus covering over 90% of its carbon footprint.
In line with the implementation of its strategic plan Everyday, Géraldine Olivier—previously Group Indirect Purchasing and Performance Improvement Director—is succeeding Valéria Maio as Group CSR Manager and will continue to report to the General Secretary of the Executive Committee. She will continue to coordinate the CSR roadmaps of the different departments and will lead the CSR, Climate and Circular Economy Committees.
Operating in twelve countries, Fnac Darty is a European leader in the retail of entertainment and leisure products, consumer electronics and household appliances. The Group, which has around 25,000 employees, had a multi-format network of 923 stores at the end of June 2021, including 766 in France, and is ranked as France's second most visited e-commerce site (more than 29 million unique visitors per month) with its 3 merchant sites, fnac.com, darty.com and natureetdecouvertes.com. A leading omnichannel player, Fnac Darty's revenue was nearly €7.5 billion in 2020, approximately 29% of which was realized online. For more information:www.fnacdarty.com
About V.E, part of Moody’s ESG Solutions
Moody's ESG Solutions is a business unit of Moody's Corporation serving the growing global demand for ESG information. The group's comprehensive offering includes ESG assessments, climate data, sustainability ratings and sustainable finance certification services that help meet the broad spectrum of ESG objectives in risk management, equity and credit markets.
For more information, visitwww.moodys.com/esg
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1 European specialized distribution sector as defined by V.E.
2 Ranking that includes 4,923 companies
3 Compared to 24% at the end of 2020.
4 Sustainability score: This figure gives information on a product's potential to last. It is the average of a reliability score and a reparability score, constructed from data collected by Fnac Darty’s after-sales service, based on the volume of products sold by the group over the last two years.
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