ESG management

ESG management system

Richemont’s ESG Management System establishes the overarching structure that integrates policies, processes and actions, providing the framework to execute the Group’s ESG priorities.

The ESG Management System shows how the findings of the Materiality Assessment and the ESG Risk and Opportunity Assessment inform the Group’s policies, taskforces and committees, and drive due diligence across direct operations and supply chains.

Esgmanagement ROA

Policies

The Group’s Standards of Business Conduct approved by the Governance and Sustainability Committee of the Board act as a foundation for the Group’s culture and guides legal, ethical and sustainable decisions. The Standards are reviewed every three years to ensure they evolve with global, ethical and legal standards.

The Supplier Code of Conduct (SCoC), Environmental Code of Conduct and Data Privacy Policy, amongst others, are well-established policies that support the ESG Management System. The Richemont Human Rights Statement, reflects the Group’s longstanding fundamental principles of respecting the human rights of all people across the business and value chain, including employees, customers, investors, partners and suppliers.

Esgmanagement Materiality Assessment

Materiality assessment

Materiality is the foundation of Richemont’s ESG agenda. It clearly identifies the areas that are most important to stakeholders, it helps set priorities and informs decision-making. 

Based on the double materiality principle, Richemont’s latest materiality assessment gathered insights into its impacts on business, people and the environment. In turn, these insights helped shape priorities to define the group’s future actions.

ESG Risk & Opportunity Assessment

The Group’s ESG Risk and Opportunity Assessment (ROA) is engineered to standardise and enhance the ESG risk identification and assessment approach. Building on the material ESG topics impacting Richemont and its stakeholders, it aims to identify, prioritise, and contextualise ESG-related risks and opportunities. It is designed to comply with increasingly stringent ESG reporting requirements, including those of the Swiss Code of Obligations (Art.964a-c).

Esgmanagement ROA (1)

Training & capacity building

Building internal capacity and knowledge is essential to embedding sustainability in the Richemont culture. The Richemont Sustainability Online Academy is a Group-wide training programme that coordinates capacity development activities under one umbrella.

The goal of the Academy is to equip everyone within the Group with the right tools and opportunities to grow their ESG technical understanding. From beginners to sustainability practitioners, the Academy aims to raise awareness, build competencies and deliver expertise.

Reporting

Richemont’s Non-Financial Report 2024 has been prepared in accordance with the Global Reporting Initiative (GRI) Standards (2021). The report covers material environmental, social and governance impacts, as well as the Richemont management approach.

The reporting requirements of the Swiss Code of Obligations (Art. 964 a-c and Art. 964l) have been addressed in this Report. In addition, the international standards and principles of the UN Sustainable Development Goals (SDGs) and the ten principles of the UN Global Compact, remain Richemont’s compass guiding its approach.