The Watches of Switzerland Group
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Environment

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Supported by an inclusive culture of transparency and collaboration, we are embracing our stewardship responsibilities and making a tangible positive difference within our society and helping to safeguard our planet for future generations.

Caring for our planet is enshrined in our Company Purpose and is a key consideration in our decision-making processes.

As part of our continual improvement and in acknowledgement of the serious risks posed by climate change, in FY22 we strengthened our governance mechanisms to address climate-related issues as a top business priority.

Across the Group we support the transition to a low carbon economy and have set near term Science Based Targets (SBTs) aligned to 1.5°C under the Paris Climate Agreement, with the aim of achieving Net Zero by 2050.

We are driving continuous improvement in carbon reduction and energy efficiency through our procurement decisions, the design and modification of our showrooms, facilities management, transportation and by switching to renewable energy sources.

With the help of our supplier partners, we are growing our range of products with environmental and social attributes and are helping clients reduce their environmental impact by extending the life of their watches and jewellery through repairs and reuse, as well as promoting innovation and advancements in sustainable design and packaging.

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Net Zero

We are committed to achieving Net Zero by 2050 and have set near term Science Based Targets  aligned to 1.5°C under the Paris Climate Agreement.

100%
of UK properties within our control are powered by renewable energy sources, certified by Renewable Energy Guarantees of Origin (REGOs)

In FY22, we have:

  • Committed to Net Zero emissions by 2050 and set carbon reduction targets in line limiting global warming to 1.5°C.
  • Committed to reducing Scope 1 & 2 emissions by 50% and Scope 3 emissions by 42% by 2030.
  • Applied to the Science Based Target initiative (SBTi) for target validation.
  • Accelerated our carbon reduction programmes, including rolling out LED lighting across our estate, transitioning to an electric or alternative fuel fleet & powering our properties with clean energy.
  • Grew our After Sales and Servicing operation by 59% and increased sales of pre-owned watches by 121% YOY across the Group.
  • Strengthened our Governance, so we’re best placed to better manage climate-related risks and leverage opportunities in line with the recommendations of the Task Force for Climate Related Financial Disclosure (TCFD).
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