SUSTAINABILITY REPORT
2022
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CONTENTS
INTRODUCTION | 3 |
RICHEMONT AT A GLANCE | 5 |
RICHEMONT SUSTAINABILITY STRATEGY | 13 | |
• EVOLVING OUR SUSTAINABILITY STRATEGY | 14 | |
• | ACTIONS TAKEN TOWARDS THE SDGS | 16 |
• | REPORTING ON MATERIAL ISSUES | 20 |
REDUCING OUR ENVIRONMENTAL FOOTPRINT | 26 | |
• ACTING ON CLIMATE CHANGE | 28 | |
• CONTROLLING GREENHOUSE GAS EMISSIONS | 31 | |
• | MINIMISING WASTE | 38 |
• | PROTECTING WATER | 43 |
• DRIVING CLIMATE-POSITIVE DECISIONS | 44 | |
• | BIODIVERSITY | 50 |
AMPLIFYING OUR SOCIAL HANDPRINT | 53 | |
• | HUMAN RIGHTS | 55 |
- OECD DUE DILIGENCE GUIDANCE | 58 | |
- LAYING THE FOUNDATIONS | 59 | |
- ILLUSTRATING OUR SUPPLY CHAIN ACTIONS | 64 | |
• | OUR PEOPLE | 69 |
- FOR, BY AND WITH OUR PEOPLE | 70 | |
- FOSTERING A SENSE OF BELONGING | 71 | |
- A WORLD OF OPPORTUNITIES | 79 | |
- A JOURNEY OF BECOMING | 82 | |
- LOOKING AHEAD | 85 | |
• | COMMUNITIES | 89 |
- OUR CONTRIBUTION TO COMMUNITIES
AROUND THE WORLD | 90 |
- GIVING | 91 |
- CHARITABLE INVOLVEMENT
THROUGH VOLUNTEERING | 93 | |
- | LOOKING AHEAD | 94 |
- | FOUNDATIONS | 95 |
REFINING OUR GOVERNANCE | 98 |
• GOVERNANCE AND RISK MANAGEMENT | 100 |
• PARTNER ORGANISATIONS | 101 |
• BUSINESS ETHICS: PUBLIC POLICIES | 103 |
• HOW SUSTAINABILITY IS GOVERNED | 106 |
• GOVERNANCE AT OUR MAISONS | 108 |
• SUSTAINABLE OPERATIONS | 110 |
• HOW WE SOURCE AND PROCURE | 111 |
• RESPONSIBLE AND SUSTAINABLE PROCUREMENT | 112 |
ENDNOTES | 115 |
ANNEXES | 116 |
INDEPENDENT ASSURANCE LETTER | 169 |
SUSTAINABILITY REPORT 2022 | 2 |
ABOUT THE COVER
Inspired by the growth rings of wood, the cover for the Richemont Sustainability Report 2022 fosters a sense of oneness and circularity with our ecosys- tem. The concentric organic forms reflect our actions of the past hundreds, or even thou- sands, of years as we can learn about the geographic climate changes through the forma- tion. Reminded of the patience and time that it takes for wood to grow ring by ring, the cover inspires sustainability actions to be engaged in continuously year on year.
Cover designer, Student at the Creative Academy, Class 2021-2022
At Richemont, we believe in adding value to society beyond the scope of our business. And, as experts in the field of crafting beauty, we know we play a major role in preserving and sharing excellence.
That is why education and knowledge sharing are essential to who we are and what we do.
Crafting the future relies on heritage and on engaging with young people. Because of this, we have helped to create several schools and apprenticeship programmes, to ensure our know-how is disseminated widely and effectively.
Artistic expression is at the heart of our Maisons' creations. At Group level, this manifests as our commitment to sustainability.
Because all these topics are extremely important to us, we are strengthening the link between them with the launch of an art contest for the cover of this year's report.
Students from the Creative Academywere asked to design a piece of art, highlighting the connections between our work and the environ- ment. We invited them to develop emotive pieces.
ABOUT THE CREATIVE ACADEMY
Founded in 2003 by Richemont, the Milan-based Creative Academy offers a master's degree in design and applied arts. Each year the course trains 20 international students in the fields of watchmaking, jewellery and fashion accessories.
The Creative Academy acts as a bridge between theory and professional practice. Its mission is to give young future professionals the tools they need to work within an ever-evolving luxury sector.
SUSTAINABILITY REPORT 2022 | 3 |
ABOUT THIS REPORT
ORGANISATION COVERED
This report covers the entire Compagnie Financière Richemont SA, which consists of all its Maisons, subsidiaries and Regional Offices accounted for by the financial control method.
Unless the context suggests otherwise, the terms 'we', 'us', 'our', 'Group', 'Company' and 'Richemont' refer to Richemont International SA.
PERIOD COVERED
This report focuses on activities undertaken during the financial year 2022 (1 April 2021-31 March 2022), except for Environment and Communities data, which relate to calendar year 2021.
STANDARDS
This report has been prepared in accordance with the GRI core option. Richemont continues to report against the Sustainability Accounting Standards Board (SASB) Apparel, Accessories & Footwear industry guide- lines. In addition, this year Richemont has also chosen to report against a select few relevant indicators from the SASB Multiline and Speciality Retailers & Distributors industry guidelines which are most material to its business.
SUSTAINABILITY REPORT 2022
ASSURANCE
This report has been verified by Ernst & Young Associates LLP.
ACCOUNTING STANDARDS
Figures are compiled pursuant to International Financial Reporting
Standards (IFRS).
DATE OF PUBLICATION
2 June 2022
FOR ENQUIRIES REGARDING THIS REPORT, PLEASE CONTACT:
sustainability.team@richemont.com
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RICHEMONT
AT A GLANCE
SUSTAINABILITY REPORT 2022 | 5 |
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Disclaimer
Compagnie Financière Richemont SA published this content on 31 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 June 2022 09:11:07 UTC.