Richemont International S.A.

Richemont International S.A., headquartered in Switzerland and operating in the Medical, precision and optical instruments, watches and clocks industry, reported total gross carbon emissions of approximately 1.11 billion kg CO2e in 2020. This includes about 11.3 million kg CO2e from Scope 1 emissions, 5.7 million kg CO2e from Scope 2 emissions, and approximately 1.09 billion kg CO2e from Scope 3 emissions. Key contributors to Scope 3 emissions in 2020 included purchased goods and services (about 795.3 million kg CO2e) and upstream transportation and distribution (about 122.3 million kg CO2e).

For comparison, in 2019, Richemont International S.A.'s total gross carbon emissions were approximately 1.38 billion kg CO2e, comprising about 15.9 million kg CO2e (Scope 1), 44.3 million kg CO2e (Scope 2), and approximately 1.32 billion kg CO2e (Scope 3).

Richemont International S.A. has committed to several climate actions. The company aims to reduce absolute Scope 1 and 2 GHG emissions by 46% by 2030, using a 2019 base year. Additionally, it plans to reduce Scope 3 GHG emissions from 'purchased goods and services and business travel' by 55% per dollar EVA by 2030, also from a 2019 base year. These targets for Scope 1 and 2 emissions align with reductions necessary to limit global warming to 1.5°C.

The company is also committed to increasing its annual sourcing of renewable electricity from 64% in 2019 to 100% by 2025. Furthermore, Richemont International S.A. targets that 20% of its suppliers, by emissions covering purchased goods and services and upstream transportation and distribution, will have science-based targets by 2025. These reduction targets and commitments are cascaded from its parent company, Compagnie Financière Richemont SA.