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Richemont

OVERALL

Owned
SWI
Rating
Criticisms

Luxury goods company

World's second largest luxury goods company, behind LVMH.

Compagnie Financiere Richemont SA   SWI     website   email      

> About the Ratings

Company Assessment

PRAISE CRITICISM INFORMATION
Compagnie Financiere Richemont SA
Environment CDP Climate Change Score of A
In 2021, the Carbon Disclosure Project (CDP) asked companies to provide data about their efforts to reduce greenhouse gas emissions and mitigate climate change risk. Responding companies are scored across four key areas: disclosure; awareness; management; and leadership. This company received a CDP Climate Change Score of A.
Source: CDP (2021)
Social Forced labour in China
In early 2017, China's Communist Party began a new incarceration campaign, rounding up, detaining and forcibly indoctrinating over 1 million Uyghurs and other Muslim minority ethnic groups in the far-western region. A coalition of more than 180 human rights groups is calling on apparel brands and retailers to stop using forced labour in the Uyghur Region and end their complicity in the Chinese government's human rights abuses. This company is amongst those being targeted by coalition members for not doing enough to identify and disengage from business relationships with Uyghur Region-linked forced labour.
Source: End Uyghur Forced Labour (2021)
Animals Animal Testing
This company's Chloe brand appears on PETA's (People for the Ethical Treatment of Animals, USA) 'Companies That Do Test On Animals' list, signifying that they either test on animals or pay a laboratory to conduct tests on animals.
Source: PETA (2022)
Animals Use of fur
This company has used fur in factory made clothing lines under the Chloe brand, and has not announced plans to stop.
Source: IFF (2021)
Business Ethics 18/100 in Fashion Transparency Index
The 2021 Fashion Transparency Index reviewed 250 of the world's largest fashion brands and retailers and ranked them according to how much they disclose about their social and environmental policies, practices and impacts. Brands owned by this company scored 18%, signifying it makes some efforts to manage and improve their supply chains but make little supply chain information publicly available. The average score was 23% and the highest score was 78%.
Source: Fashion Revolution (2021)
Business Ethics 26/100 S&P Global ESG Score
This company received an S&P Global ESG Score of 26/100 in the Textiles, Apparel & Luxury Goods category of the S&P Global Corporate Sustainability Assessment, an annual evaluation of companies' sustainability practices (last updated 7 Feb 2021). The rankings are based on an analysis of corporate economic, environmental and social performance, assessing issues such as corporate governance, risk management, environmental reporting, climate strategy, human rights and labour practices.
Source: S&P Global (2021)
Business Ethics 'D' grade in WWF Deeper Luxury report
In 2007 WWF-UK analysed and ranked the 10 largest publicly-traded luxury brand-owners on their environmental, social and governance (ESG) performance. (Listed under information due to age of report)
Source: WWF UK (2007)
Environment Climate action commitments
As listed on the We Mean Business website, this company has committed to the following climate action initiatives: adopt a science-based emissions reduction target; commit to 100% renewable power.
Source: We Mean Business (2021)
Social Ethical jewellery
In this 2012 report on the ethical performance of ten luxury jewellery brands, Richemont subsidiary Cartier was found to be the only brand significantly active in addressing their social responsibilities.
Source: Uplifting the Earth report (2011)
Business Ethics Responsible Jewellery Council member
This company's subsidiary, Cartier, is a certified member of the Responsible Jewellery Council (RJC). Certification under the RJC system demonstrates that the Member's business practices conform to RJC's Code of Practices for business ethics, human rights, social and environmental performance.
Source: Responsible Jewellery Council (2019)
Social Jewelry sourcing ranking
Human Rights Watch's 2020 report, "Sparkling Jewels, Opaque Supply Chains" scrutinizes and ranks 15 major jewelry companies for their efforts to prevent and address human rights abuses in their gold and diamond supply chains between 2018 and 2020. This company was ranked 'Moderate': has taken some important steps towards responsible sourcing.
Source: Human Rights Watch (2020)
Social CDP Water Security Score of C
In 2021, the Carbon Disclosure Project (CDP) asked companies to provide data about their efforts to manage and govern freshwater resources. Responding companies are scored on six key metrics: transparency; governance & strategy; measuring & monitoring; risk assessment; targets & goals; and value chain engagement. This company received a CDP Water Security Score of C.
Source: CDP (2021)

> About the Icons

Company Details

Type Public company
Revenue 11 billion EUR (2018)
Employees 28,580 (2017)

Contact Details

Address Geneva, Switzerland
Website www.richemont.com

Products / Brands

Richemont
Cartier Fragrances
Cartier Luxury Brands
Chloe Luxury Brands


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