Richemont is one of the world's leading luxury - Alle jaarverslagen

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Corporate responsibilityRichemont has a long-standing commitment to doing businessresponsibly. Building trust in our Maisons, our operatingcompanies and brands, lies at the heart of the way we work.We are operating in a difficult economic climate and we must takesteps to manage the impact of the economic slowdown on theGroup. This must not be to the detriment of our long-term goalsand strategy. It is these that will determine our future success.Corporate responsibility remains a priority for Richemont.A COMMON FRAMEWORKThe Group’s activities are guided by a common framework thatreflects our values. The framework helps Richemont managers,employees, suppliers and associates to understand our expectations.It informs how we treat our stakeholders as well as the naturalenvironment.The framework includes our Code of Business Ethics and CorporateSocial Responsibility Guidelines, as well as codes of conduct foremployees, suppliers and for environmental management.These guidelines may be adopted fully by subsidiary companiesor, in agreement with the Group’s Corporate Social Responsibility(‘CSR’) Committee, amended to reflect the operations ofindividual Maisons.In 2008/09, we have focused on ensuring that employees andsuppliers are aware of and understand our CSR principles andcodes of conduct.GOVERNANCEThe Group’s CSR Committee is chaired by the Director ofCorporate Affairs. It guides the corporate responsibility activitiesof the Group, considers external developments, CSR risks andopportunities and shares good practice within the Group.Compliance with our guidelines is monitored through the internalaudit function. External consultants may also be used to evaluateperformance and to provide an independent point of view.EXTERNAL CONTEXTRichemont’s CSR strategy must evolve to meet new challengesand the growing expectations of society and investors. We havemethodologies in place to track these expectations, and engage inongoing dialogue with investors, our peers and Non-GovernmentalOrganisations.RICHEMONT PEOPLERichemont directly employs over 19 500 people. Two-thirds of theemployees are based in Europe where most of the manufacturingtakes place. A quarter of employees are based in the Far East, inretail, distribution, after sales service and administrative functions.The Americas region is the third significant area of employment.TrainingTraining is a key component of our Maisons’ success. The qualityand longevity of our goods relies on highly skilled craftspeople,and our customer satisfaction on passionate retail staff.Training is fully integrated in the performance and developmentappraisal process for all staff.Many of our Maisons have established dedicated trainingacademies and/or operate training schemes – either independentlyor together – with industry or government sponsored programmesto train apprentices to be the next generation of craftspeople.We continue to support The Creative Academy, which offersstudents a Masters programme in Arts in Design. In 2009,the school welcomed 21 students as its sixth cohort. Furtherinformation on The Creative Academy can be obtained atwww.creative-academy.comIn 2008/09, our new training facility in Dallas, Texas waslaunched in collaboration with the Watchmakers of SwitzerlandTraining and Education Programme (‘WOSTEP’), was officiallyaccredited by the state. We are working to develop a similarfacility in Hong Kong which will teach watch repairing skills.Health and safetyThe Group recognises its responsibility for the health, safety andwell-being of employees. The law provides us with the minimumstandards to follow, and each Maison takes responsibility for puttingthese standards into practice. The Health and Safety Committeeis chaired by the Group’s Manufacturing Director, who reportsregularly to the Audit Committee and Board of Directors. Allemployees are encouraged to contribute towards developing saferworking practices.SUPPLY CHAINResponsible practice within the supply chain is a key issuefor Richemont. The full supply chain often lies beyond ourdirect control, so we seek to influence the ethical, social andenvironmental behaviour of suppliers both as challengingpartners and by collaborating with peers.38 Richemont Annual Report and Accounts 2009Business review: Corporate responsibility
ResponsibleJewelleryCouncilOur model Supplier Code of Conduct formalises our expectationsof suppliers and partners. The code includes elements of internationallabour standards and asks suppliers to comply with Richemont’sEnvironmental Code of Conduct. The code also addresses issuesincluding animal testing, preservation of endangered species,conflict-free diamonds and responsible gold procurement.The code is a Group document which Maisons can customise toincrease its relevance and effectiveness. The code should ensure highstandards and generate actions for improvement. Compliance withthe code is a part of normal commercial practice and Richemontmay terminate supplier contracts where the code is violated.Some Maisons engage third parties to audit suppliers’ compliancewith the code. Over 40 such audits were conducted in 2008/09.As always, some areas for improvement were identified. Theseare followed up as part of the ongoing supplier relationship.Responsible Jewellery CouncilThe Responsible Jewellery Council (‘RJC’) was established in2005 to promote responsible ethical, human rights, social andenvironmental practices in the gold and diamond supply chains.The RJC was built on the belief that these issues can be bestaddressed as a collaborative effort.Cartier was one of the 15 founding members and today theRJC has grown to include over 80 members from mining housesto retail, including Van Cleef & Arpels, Piaget, Montblanc,Jaeger-LeCoultre and Baume & Mercier.In 2008, the RJC developed the RJC certification system whichwill apply to all of its members’ businesses that contribute to thediamond and gold jewellery supply chain. Under the RJC system,all commercial members of the RJC must be audited by accredited,third-party auditors to verify compliance with the RJC’s Code ofPractices. The RJC will begin operating its system during 2009.Further information on the RJC can be obtained atwww.responsiblejewellery.comENVIRONMENTOur business does not have major, direct environmental impactsbut we must seek to reduce those impacts that we do have. OurEnvironmental Code of Conduct is built on internationally recognisedstandards for environmental management. It covers universalissues such as energy and water use and industry-specific issuessuch as the environmental impacts of leather product production.Climate changeClimate change is one of the biggest single environmental issues forour planet. We are committed to playing our part in tackling it.We continued to improve the measurement of our carbon emissions,estimated at 65 500 tonnes for 2008/09 a decrease of 3 per centfrom the prior year. This has been achieved to some extent bysourcing electricity from ‘green’ suppliers.This year, we have challenged our companies to reduce theiremissions, and have particularly encouraged initiatives whichalso reduce cost.The Group committed to be carbon neutral by 2009. For thefirst year we purchased carbon offsets equivalent to our 2007/08emissions. These offsets have been and will continue to be deliveredduring 2009. We have reinvoiced the cost of the offsets to themain emitters to increase awareness and to encourage effortsto decrease emissions.BiodiversityOur direct impact upon biodiversity is low; and we decreaseit further by reducing our impact on climate change and carefuldisposal of waste products.As users of leather and other animal products, we adhere tothe Convention on International Trade in Endangered Species(‘CITES’) to minimise any adverse effects on biodiversity throughour product sourcing.COMMUNITYRichemont is committed to the communities within whichit operates. Our Maisons regularly support art and culturalprogrammes that reflect their historical background andthe nature of their products, together with global and localcommunity programmes.Globally, Richemont supports Laureus Sport for Good. Artand cultural programmes include Cartier Fondation pour l’ArtContemporain and Montblanc de la Culture Arts Patronage Award.In 2008/09, our community expenditure was € 20 million,an increase of over 40 per cent compared to last year.2009 Corporate Responsibility ReportFor further details on each of the topics mentioned here, pleaseaccess Richemont’s full annual corporate responsibility report onthe Group’s website at www.richemont.com/csrRichemont Annual Report and Accounts 2009 39Business review: Corporate responsibility
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