Movado Sustainability Profile
Movado Group, Inc., a renowned name in the luxury watch industry, is headquartered in Switzerland (CH) and operates globally, with a strong presence in North America and Europe. Founded in 1881, Movado has established itself as a leader in innovative timepiece design, known for its iconic Museum dial, which features a minimalist aesthetic and a single dot at 12 o'clock, symbolising the sun at high noon. The company offers a diverse range of watches, including the Movado Bold and Movado Museum collections, distinguished by their craftsmanship and modern elegance. Movado's commitment to quality and design has earned it numerous accolades, solidifying its position as a prestigious brand in the luxury watch market. With a rich heritage and a focus on innovation, Movado continues to captivate watch enthusiasts worldwide.
DitchCarbon Score
How does Movado's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Retail Trade Services industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Movado's score of 34 is higher than 56% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Movado's reported carbon emissions
In 2023, Movado Group, headquartered in Switzerland (CH), reported total carbon emissions of approximately 73,675,000 kg CO2e. This figure includes emissions from all three scopes: Scope 1 emissions totalled 330,000 kg CO2e, Scope 2 emissions were 2,654,000 kg CO2e, and Scope 3 emissions accounted for approximately 70,675,000 kg CO2e. Notably, the Scope 3 emissions include significant contributions from capital goods (1,862,000 kg CO2e), business travel (1,035,000 kg CO2e), and employee commuting (2,436,000 kg CO2e). Despite the detailed emissions reporting, Movado has not established specific reduction targets or initiatives as part of their climate commitments. There are no documented climate pledges or SBTi (Science Based Targets initiative) reduction targets currently in place. The absence of such commitments suggests that Movado may be in the early stages of developing a comprehensive climate strategy. Overall, Movado's emissions data reflects a substantial carbon footprint, particularly in Scope 3, which is common in the watch and luxury goods industry. The company may benefit from setting clear reduction goals to align with global climate action efforts.
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| 2023 | |
|---|---|
| Scope 1 | 330,000 |
| Scope 2 | 2,654,000 |
| Scope 3 | 70,675,000 |
How Carbon Intensive is Movado's Industry?
How Carbon Intensive is Movado's Location?
Movado's Scope 3 Categories Breakdown
Nearly all of their carbon footprint comes from suppliers and value chain emissions, representing nearly all emissions under the GHG Protocol, with "Waste Generated in Operations" being the largest emissions source at 5% of Scope 3 emissions.
Top Scope 3 Categories
Movado's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Movado has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
Tag Heuer International SA
Daniel Wellington
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