Richemont International S.A. Sustainability Profile
Richemont International S.A., commonly known as Richemont, is a prestigious Swiss luxury goods holding company headquartered in Switzerland (CH). Founded in 1988, Richemont has established itself as a leader in the luxury industry, with a diverse portfolio that includes renowned brands in jewellery, watches, and fashion. Major operational regions include Europe, Asia, and the Americas, where it caters to a discerning clientele. The company is celebrated for its exceptional craftsmanship and innovation, offering products such as high-end watches, fine jewellery, and luxury accessories. Notable brands under its umbrella include Cartier, Montblanc, and Van Cleef & Arpels, each known for their unique heritage and artistry. Richemont's commitment to quality and exclusivity has solidified its market position, making it a key player in the global luxury sector.
DitchCarbon Score
How does Richemont International S.A.'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 Medical Device Manufacturing 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
Richemont International S.A.'s score of 56 is higher than 74% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Richemont International S.A.'s reported carbon emissions
In 2020, Richemont International S.A. reported total carbon emissions of approximately 1,113,900,000 kg CO2e. This figure includes Scope 1 emissions of about 11,300,000 kg CO2e, Scope 2 emissions of around 5,700,000 kg CO2e, and significant Scope 3 emissions totalling approximately 1,096,900,000 kg CO2e. The latter category encompasses various sources, with purchased goods and services contributing about 795,300,000 kg CO2e and business travel accounting for approximately 9,100,000 kg CO2e. Richemont has set ambitious climate commitments, aiming to reduce absolute Scope 1 and 2 greenhouse gas emissions by 46% by 2030, using 2019 as the baseline year. Additionally, the company targets a 55% reduction in Scope 3 emissions related to purchased goods and services and business travel per dollar of Economic Value Added (EVA) by 2030. Furthermore, Richemont plans to ensure that 20% of its suppliers, based on emissions from purchased goods and services and upstream transportation and distribution, will have science-based targets by 2025. The company also aims to increase its annual sourcing of renewable electricity from 64% in 2019 to 100% by 2025. These targets are aligned with the necessary reductions to limit global warming to 1.5°C, reflecting Richemont's commitment to sustainability and climate action. The emissions data and reduction initiatives are cascaded from its parent company, Compagnie Financière Richemont SA, which oversees these environmental strategies.
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| 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | |
|---|---|---|---|---|---|---|
| Scope 1 | 13,600,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 57,300,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 0,000,000 |
| Scope 3 | - | 000,000,000 | 000,000,000 | 000,000,000 | 0,000,000,000 | 0,000,000,000 |
How Carbon Intensive is Richemont International S.A.'s Industry?
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Richemont International S.A.'s Scope 3 Categories Breakdown
Richemont International S.A.'s Scope 3 emissions, which decreased by 17% last year and increased by approximately 984% since 2016, demonstrating supply chain emissions tracking. Nearly all of their carbon footprint comes from suppliers and value chain emissions, representing nearly all emissions under the GHG Protocol, with "Purchased Goods and Services" being the largest emissions source at 73% of Scope 3 emissions.
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Richemont International S.A.'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.
Richemont International S.A. has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
