Key areas of progress include:

  • Richemont further increased the proportion of gold and diamonds sourced from certified suppliers. More than 95% of gold and diamonds now come from RJC-certified sources. A growing proportion of the gold itself is certified under the Chain of Custody Standard.
  • For other key raw materials, including coloured gemstones and leather, Richemont conducted risk analyses to better understand their environmental and social risks.
  • Richemont established a Chemical Competence Centre in Switzerland.

Richemont has identified the following key areas for improvement and will be focusing on these as part of the 2020 CSR Plan:

  • Increasing engagement with suppliers and monitoring of compliance against the new Supplier Code
  • Conducting more coordinated audits and promoting sharing of results and show actions taken
  • Continuing to focus on traceability, including quantitative increases in the proportion of key raw materials sourced from certified suppliers
  • Providing additional Group-wide tools to support Maisons with implementing responsible sourcing policies
  • Reaching the target of 90% of Richemont Procurement-supported suppliers signing the Supplier Code of Conduct