Richemont shares ESG achievements in 2022 Sustainability Report

Swiss luxury group Richemont has released its annual Sustainability Report, sharing details of its ongoing Environmental, Social and Governance (ESG) performance for the past year and its achievements in the area.

Its position in ESG has been driven by new appointments within its leadership team, including the introduction of a chief sustainability officer role, taken on by Bérangère Ruchat, and the new chair of its Governance and Sustainability Board Committee, announced as Jasmine Whitbread.

In a release, Ruchat said: “With my team, I am further developing the group’s vision to accelerate and amplify the group’s ESG transformation. Our mission is to infuse an impact-driven mindset, enabling our colleagues to understand and integrate environmental and social dimensions into every business decision. Following global standards, we are committed to expand our sustainability reporting and operate with the highest level of corporate governance.”

In the reduction of its environmental footprint, Richemont said it was advancing its commitment to adopting 100 percent renewable electricity across all its sites by 2025, for which it is currently operating at 92 percent. It also said it was on track to eliminate polyvinyl chloride (PVC) from its products and packaging by December 2022.

In terms of community commitments, Richemont said it had donated a total of 42 million euros to investment-related projects in the fields of healthcare, social and economic development, education and women and children’s welfare.

Additionally, the company published the results of its first Product Social Impact Assessment (PSIA) on small-scale mined gold, evaluating specific operators and measuring their individual performance.