Environment

Environmental stewardship is core to minimising our footprint.

We continuously seek to minimise our environmental impact through the responsible sourcing of raw materials, limiting our contribution to climate change, and through the responsible disposal of all waste materials. Creating our Transformational Strategy was a key development for us, and this year we are finalising our commitment-specific targets so that we can benchmark our progress effectively in the future.

Matthew Kilgarriff
Group Director, Corporate Social Responsibility

© Peace Parks

Our overarching ambition is to reduce our environmental impact and design sustainable products. To do this, we will focus on:

  • Embedding circularity in our products and business models
  • Ensuring a high level of environmental stewardship across all activities
  • Minimising our greenhouse gas, water and waste footprint
Our overall carbon footprint for 2019 was 284 227 tCO2e

a 1% increase yoy

All Richemont’s Maisons consider the Environmental impacts

for new products at the design stage, reflecting the sensibilities of the Maisons’ designers and their customers

YOOX NET-A-PORTER (YNAP) and RE100

RE100 groups the world’s most influential companies committed to 100% renewable power and is led by The Climate Group in partnership with CDP. YNAP was among the first companies to join RE100 in 2015, inspired by its goal to accelerate change towards zero carbon grids at global scale by increasing corporate demand for – and in turn supply of – renewable energy.

Since the beginning, YNAP set an ambitious target committing to 100% renewable energy by 2020, to be reached through a strategy based on: renewable energy purchasing; self-generated energy via solar panels; and collaboration with landlords. As a last option, where the previous actions proved to be not viable, the company has bought Renewable Energy Certificates.

In 2018 all Italian operations were already using 100% renewable energy, while globally YNAP renewable energy use increased from 45% in 2017 to 65% in 2018. In 2019 YNAP achieved 93% of renewable energy sourced globally and is on track to succeed in its plan of being 100% renewable by the end of 2020.

To progress successfully in this journey, YNAP faced many challenges, such as the difficulties encountered in shifting from standard contracts into green energy procurement contracts and the regional price differences for green energy certificates in different markets.

Shifting to renewable energy is only one part of the YNAP commitment to improve sustainability. At the same time, YNAP is working on reducing its global emissions and energy demand as much as possible, by constantly exploring new technologies and processes.

YNAP is proud to be among the first companies that joined RE100 and its contribution to the growth of the group that today includes companies from all over the world. YNAP is also proud of what has been achieved so far, and experienced the same sense of pride for this programme coming from its employees, who always warmly welcome communications regarding new achievements.

The rest of Richemont has learned from the YNAP experience and is targeting 100% renewable electricity worldwide by 2025.

Our response to climate change

Richemont’s carbon footprint is relatively small compared to that of energy-intensive industries. Nonetheless, we recognise that managing the issues arising from climate change helps us to reduce our energy and travel costs. More importantly, managing the issues contributes to one of the greatest challenges facing the planet and is reflected in our new strategic priorities.

Our policy is to focus on reducing our own carbon emissions and those of our logistics service providers. As the business continues to grow in absolute terms, we purchase carbon offsets to neutralise our measured footprint for buildings and business travel. That has been our practice since 2008, and in 2019 we offset our logistics-related footprint for the first time.