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Environment

Environmental responsibility is an issue growing in importance. Against a backdrop of increasing concern over changes being seen in the earth’s climate, investors and customers are becoming increasingly interested in how companies manage their environmental impacts. Environmental responsibility has also been a particular area of focus for Richemont this year.

As a first step, Richemont has started to measure its “carbon footprint” – that is the amount of carbon we emit through the energy we use in our buildings and the fuel consumed as we travel around the world on business whether that be by air, by rail or by road.

The issue of climate change and the findings of our carbon audit were reported to the Board earlier this year. While our operations do not have a high environmental impact compared to say a heavy manufacturer, nevertheless, the Board concluded that a programme of activity should be put in place in this area. Our primary focus is on measuring and reducing our carbon footprint. A central element of our programme is to become fully carbon neutral in those company operations we directly own or control by 2009. At the same time, we have commissioned an independent specialist environmental consultancy to help us develop and improve our environmental management practice across the group.