Key areas of progress include:
- Richemont Maisons and regional platforms produced their own CSR implementation plans identifying initiatives to support the achievement of the Plan’s overall targets, while also reflecting their own priorities and culture.
- Richemont undertook a comprehensive materiality assessment in 2016 which involved extensive internal and external engagement. This identified current and emerging priority CSR issues and ensured the Group’s efforts are focused on the areas that matter most.
- The Supplier Code of Conduct was reviewed and strengthened in 2015. Maisons and Regions have received training on this and have been implementing the new Code with their suppliers.
Richemont has identified the following key areas for improvement and will be focusing on these as part of the 2020 CSR Plan:
- Deepening processes and tools for on-going reporting against commitments within the Plan.
- Providing additional guidance to Maisons and Regions to adapt and implement the Plan.
- Reviewing and updating other CSR Group-related Codes.