Richemont International S.A.

Richemont International S.A.'s reported carbon emissions

For its Medical, precision and optical instruments, watches and clocks industry, Richemont International S.A., headquartered in Switzerland (CH), has reported significant carbon emissions data. In 2020, the company's total emissions were approximately 1.11 billion kg CO2e, comprising about 11.3 million kg CO2e for Scope 1, 5.7 million kg CO2e for Scope 2, and approximately 1.10 billion kg CO2e for Scope 3. Looking at prior years, Richemont International S.A. reported total emissions of approximately 1.38 billion kg CO2e in 2019, with Scope 1 at about 15.9 million kg CO2e, Scope 2 at approximately 44.3 million kg CO2e, and Scope 3 at roughly 1.32 billion kg CO2e. In 2018, total emissions were around 280.7 million kg CO2e, including Scope 1 at about 19.5 million kg CO2e, Scope 2 at approximately 58.5 million kg CO2e, and Scope 3 at approximately 202.7 million kg CO2e. Richemont International S.A. is committed to reducing its environmental impact. The company has set ambitious climate targets, including a commitment to reduce absolute Scopes 1 and 2 greenhouse gas (GHG) emissions by 46% by 2030, using 2019 as a baseline year. Additionally, Richemont aims to cut Scope 3 GHG emissions from 'purchased goods and services and business travel' by 55% per dollar of Economic Value Added (EVA) by 2030, also from a 2019 baseline. Further commitments include ensuring that 20% of its suppliers, covering purchased goods and services and upstream transportation and distribution, will have science-based targets by 2025. Richemont also pledges to increase its sourcing of renewable electricity from 64% in 2019 to 100% by 2025. The targets for company operations (Scopes 1 and 2) are designed to be consistent with the reductions necessary to limit global warming to 1.5°C. The renewable energy procurement target for Scope 2 emissions is also aligned with this 1.5°C pathway. It is important to note that Richemont International S.A.'s emissions data and reduction targets are cascaded from its parent company, Compagnie Financière Richemont SA.