Our overarching CSR strategy supports our vision to create long-term value for our business and wider society, while preserving our heritage in quality, craftsmanship and innovation. Our strategy has five key ‘pillars’, which provide focus to our efforts and two cross-functional considerations - deepening engagement and innovating for sustainability - which apply to all aspects of our business.
Throughout this report, the term CSR is predominantly used. There are other terms used for reporting by issuers, including ‘ESG’ (Environment, Social and Governance) and ‘SEE’ (Social, Economic and Environmental). Richemont considers these three terms to be broadly interchangeable.
Richemont has a risk management process which gives consideration to strategic and operational risks across all Group functions, including CSR risks. We seek to eliminate or mitigate CSR risks where identified, in partnership with our employees and other stakeholders through the application of good practices. Further information can be found in the Governance and Risk Management section.