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