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Energy

This year, Richemont has fully collected and collated its global carbon footprint at group level for the first time. Based on this process, we have identified purchased electricity as the most significant source of Greenhouse Gases (GHG) emissions for us. For the 12 months to 31 March 2007, our electricity usage was
116 GWh. This does not include gas or fuel oil that we use in our buildings or fuels used in our vehicles.

As electricity is our biggest source of GHG emissions, energy efficiency is of paramount concern. There are already examples of good practice taking place across the group, but we feel that there is an opportunity to more formally share what works. We have therefore commissioned a review of environmental management within the group in a programme that will involve working with a typical distribution centre, manufacturing site and retail outlet to develop a programme of activities. This will build on existing initiatives carried out by Maisons to promote energy efficiency. For example Van Cleef & Arpels are focusing on energy efficient lighting in Paris (Vendôme) , London and New York stores.

The data gathering process in terms of the Group's carbon footprint is being refined and updated, reflecting the importance of the topic across the Group.

Case Study: Lancel

This year, Lancel has concentrated its efforts on reducing the carbon emissions relating to its freight and product distribution activities. At its warehouse in Paris, the company has introduced a range of measures to reduce its environmental impact. Most notably, a review of gas usage has allowed the company to introduce new thermostat controls which has reduced gas consumption by 40% in 2006 compared to 2004 levels. Flat screen Liquid Crystal Display (LCD) screens have also replaced the traditional cathode ray tube (CRT) computer display screens. These use less energy than CRTs both in use and in standby mode and emit less heat reducing the need for office cooling in hot weather. Lancel has involved its employees in its environmental improvement programme through facilitating car sharing and waste recycling. A review of freight management from supplier to customer has also delivered substantial environmental improvements. Most significant has been a reduction by 50% of goods by volume transported by air in favour of sea freight. This has been achieved against a backdrop of a 50% increase in overall freight levels. A new store delivery schedule has seen daily deliveries replaced by no more than three deliveries a week. This has reduced the number of shipments by around 50%. Looking forward, the company is reviewing the feasibility of including river freight in the transport of goods between its Paris warehouse and the docks of Le Havre.