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Richemont

OVERALL

Owned
SWI
Rating
Criticism, some praise

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)
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 30/100 S&P Global ESG Score
This company received an S&P Global ESG Score of 30/100 in the Textiles, Apparel & Luxury Goods category of the S&P Global Corporate Sustainability Assessment, an annual evaluation of companies' sustainability practices (last updated 23 Sep 2022). 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 (2022)
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 Leather Working Group member
This company is a member of the Leather Working Group, a multi-stakeholder group who's objective is to develop and maintain a protocol that assesses the compliance and environmental performance of tanners and promotes sustainable and appropriate environmental business practices within the leather industry.
Source: Leather Working Group (2022)
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)
Business Ethics The Fashion Pact member
This company is a member of The Fashion Pact, a global initiative of companies in the fashion and textile industry (ready-to-wear, sport, lifestyle and luxury) including their suppliers and distributors, all committed to a common core of key environmental goals in three areas: stopping global warming, restoring biodiversity and protecting the oceans.
Source: The Fashion Pact (2022)
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)
Social BHRRC company profile
Business & Human Rights Resource Centre digital platform presents news and allegations relating to the human rights impact of over 20,000 companies. Their enhanced Company Dashboards also include financial information, key data points based on corporate policies, and scores from prominent civil society benchmarks. Follow the link and use the search function to view this company's dashboard.
Source: BHRRC (2022)
Business Ethics 30/100 in Fashion Transparency Index
The 2022 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 human rights and environmental policies, practices and impacts. Brands owned by this company scored 30%, signifying it is doing a bit more than the others when it comes to having policies and commitments in place and auditing and reporting activities, but could be doing more. The average score was 24% and the highest score was 78%.
Source: Fashion Revolution (2022)

> 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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