Environmental management

Context

We are committed to minimising our impact on the natural environment and to reducing our carbon footprint. We recognise national and international standards of environmental performance and provide relevant guidance to both our Maisons and our suppliers in this regard.

Our approach

Our Environmental Code of Conduct, is built on national and international norms and standards for environmental management. The Code addresses industry-specific issues, such as the environmental impacts of using gem stones, gold and leather, as well as universal environmental issues.

The Code provides a baseline from which each Group business is expected to implement its own environmental management system, tailored to suit its size and type of activity. Improving the quality and scope of our environmental data remains an area of focus.

The CSR Committee reviews environmental performance, determines new initiatives and reports to management and the Board on progress.

Richemont’s Internal Audit function includes environmental considerations within its risk analysis and monitors compliance with the Code. Procedures are in place to ensure that non-compliance with the Code is followed up with a programme of remedial action.

Environmental data is consolidated annually. This data includes the energy we use in our buildings, the fuel consumed as we travel and other elements necessary to calculate our carbon footprint.

The results are disclosed in the Annual Report and communicated internally to employees.

Engaging employees

Our Maisons engage their staff directly on environment themes in a variety of ways. These range from communications on environmental good practice at work to incentivising staff to use public transport.

The Group’s CSR Committee has noted a significant increase in the number of environmental initiatives reported by local CSR representatives in markets such as the Middle East, South Africa, Hong Kong and Korea.

Looking ahead

We continue to work on improving our infrastructure, energy management and travel policies to limit our emissions