Our long term goal is the traceability of all raw materials used in our products.
We understand many of the challenges associated with achieving traceability and are working closely with our suppliers and industry partners towards that goal.
Towards 100% certified gold
Our path towards 100% RJC-certified gold began during Richemont's first CSR three-year Plan to 2017. We wanted to use the RJC’s Chain of Custody Standard for each of our Jewellery Maisons, our Specialist Watchmakers and Montblanc. Our gold supply chain is relatively complex: it uses not only multiple sources of gold, including recycled gold, it also has many subcontractors making components, from watch crowns to chain clasps. Nevertheless, our sense of direction was clear.
As we have travelled along this path, we have disclosed more and more details about the proportion of our suppliers who are already Code of Practices certified and the percentage of their gold that is Chain of Custody (CoC) certified. Currently, 90% of the gold purchased by our Maisons is CoC certified and comes from recycled origins. 97% of the semi-finished gold components entering our manufacturing processes are from RJC CoP certified members, some of them already RJC CoC certified or on the way to becoming certified. We have also described our efforts to bring small-scale mining operations up to the RJC-level. We have done this through intermediary organisations such as the Swiss Better Gold Association.
Looking ahead, we believe that we are on track for 100% CoC-certified gold, be it recycled or from small-scale mines. This will not be achieved within a few months, but within a few years. When we reach the end of that path, most likely in 2025, our Maisons will have the opportunity to engage with their customers about the gold used in their jewellery, watches and writing instruments.
We commit to source responsibly, ensuring the integrity of our products, and respecting ethical business practices, human and labour rights, and the environment. We will continue to work collaboratively with industry organisations and our business partners to promote best practices across our full supply chain.