Watchmaker IWC has published the second edition of its biennial report on sustainable development, in line with the standards set by the Global Reporting Initiative (GRI).
In 2018, the watchmaker claimed to be the “First Swiss luxury watch brand to refer to these international standards“.
IWC wants to be at the forefront of the luxury watch industry, adopting a sustainable development approach based on transparency and collaboration.
It should be noted that the green-ecological trend that is increasingly recurring in the watch industry can be seen at Breitling, Blancpain, Chopard, Oris and many others.
Since the definition of its first sustainable development objectives in 2017, IWC today boasts the following results:
– Compliance with environmental objectives thanks to a 10% reduction in greenhouse gas emissions and a 30% reduction in the average volume and weight of packaging.
– Compliance with parity objectives in the area of training, doubling the number of annual hours of corporate volunteering and reducing absenteeism by 10% through the promotion of health and well-being.
– Renewal of certification under the Responsible Jewellery Council (RJC) Code of Practice.
In addition, IWC is the first luxury watch brand to meet the criteria set by the Responsible Jewellery Council’s (RJC) Code of Practice standards revised in 2019, setting very strict requirements for responsible business practices and supply chain management.
In this regard, the RJC stressed that the specifications set by IWC went beyond regulations on procurement, employer responsibility and investment in local communities .
IWC also strives to control its environmental impact globally and locally.
The Swiss watchmaker has thus achieved ambitious goals over the past two years.
Both in the design of sustainable watch mechanisms and in the acquisition of 100% renewable electricity worldwide.
But beyond those already implemented, IWC intends to continue applying the principles of the circular economy.
This includes the reuse of heat generated by production processes, the recycling of gold and the development of new sustainable materials.
The company also invests in the local community as an employer. It is the first luxury watch brand in Switzerland to receive a “Great Place to Work” certification, with 90% of employees stating that they are proud to be part of the IWC family.
For the year 2022, the watch brand has set itself objectives focused on environmental sustainability and diversity. These will include obtaining Equal Pay certification, doubling the proportion of women in management positions compared to 2017, developing and implementing a Green IT strategy and defining an action plan to organize sustainable events.
Featured Photo : © IWC
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