OUR APPROACH TO SUSTAINABILITY

Group photo of the IWC Sustainability Committee

Our world is changing. The pace of innovation has never been faster. We, as a company have a responsibility to be sustainable and responsible.

At IWC Schaffhausen, we have been pushing boundaries since 1868. In the name of engineering. In the name of innovation. Progress is not a destination, but rather a continuous journey towards a better future. To see change, you have to engineer change.

For more than a decade, IWC has progressed year on year on its commitments to act responsibly. This journey signifies our forward-thinking and long-term vision – thinking beyond our time. Since 1868, we have built on our history as a luxury Swiss watchmaker with a commitment to engineering excellence and an innovative spirit. Our commitment to sustainability is guided by these same tenets because we are not only crafting timepieces that stand the test of time, we are staying true to our promise of Engineering Beyond Time.

We invite you to follow us on the journey – and to become an active part in it.

Your IWC Schaffhausen

Sustainability Committee

IWC Sustainability process timeline from 2012 until 2023

Our progress to date

WHAT WE DO - CASE STUDIES

Restoring Posidonia

Posidonia Oceanica, a seagrass species commonly found in the Mediterranean, is a strong natural defense against climate change; it captures and absorbs 15 times more carbon dioxide (CO2) from the atmosphere than a similar sized piece of the Amazon rainforest. In general, between 50–80% of the oxygen we breathe is produced by marine plants. Posidonia is threatened due to climate change, ocean waste, human activity and an invasive alga species.

In line with our engineering spirit, we are supporting pioneering scientific methods to help engineer the recovery of the marine ecosystem in Costa Brava, Spain. The project aims to reverse biodiversity loss and combat climate change, both of which are material topics for us. Our investment has enabled scientists to test the feasibility of this experimental method. No long-term studies exist to proof the success and resilience of Posidonia replanting; however, the project is building on existing work, recommendations and methodologies, which is why financial investment and continuous monitoring are essential to inform and optimize this pioneering approach.
THE DETAILS

Location: Cala Sabolla, Cala Galladera, Cap de Creus National Park in Spain

Potential area: First mapping has shown approximately 1100 m² of dead Posidonia bush being taken over by Caulerpa cylindracea

External partners & collaborators:

• Reforest

• Asociación otras Maneras

• Empordà Mar

• Cap de Creus Natural Park

• Cadaqués City Council

• Ministerio para la Transición Ecológica y el Reto Demográfico (MITECO)

• Mar d’Amunt Association

• University of Girona
TIMELINE

September 2022: Surveyed seabed with underwater robots and divers

January 2023: Cadaqués City Council and the Cap de Creus National Park erected buoys to permanently cordon off the Sa Sabolla cove

April-June 2023: Posidonia seedlings are sourced from MITECO’s nursery in Portmán

May-July 2023: 750 Posidonia seedlings will be transplanted on the deadwood surface

2023-2026: The area will be observed for a minimum of three years to monitor the success of the restoration including:

1) ability to stop Caluerpa’s progression

2) the health of the transplanted Posidonia seedlings

3) to estimate the carbon capturing of this project over a 30-year period

Cutting straps out of a large material sheet roll

Sustainable Strap Alternatives

MIRATEX™

In 2022, after two years of R&D and in close collaboration with Natural Fiber Welding® (NFW), IWC was the first in the industry to introduce a watch strap made with MIRUM®: a bio-based, completely plastic-free and 100% ‘return to earth’ material. Made of natural materials such as FSC-certified natural rubber, cork powder and various mineral colorants, MIRUM® does not contain any petrochemicals and has a low carbon footprint. The result is a watch strap that is less resource-intensive to produce than animal or synthetic leather. During the entire process, both development teams have consistently adhered to the principle that quality, durability and comfort are non-negotiable.
SWISS TRACEABLE CALF LEATHER

Since July 2022, we have been gradually switching production to traceable calf leather, and our first traceable Swiss calf leather strap was released in September of that year on our Portofino Chronograph 39 and Automatic 37. All IWC straps made of traceable calf leather are sourced in Switzerland and our supplier of calfskins is a leading Swiss company specialised in the responsible processing of animal products. All suppliers of animal-based materials must adhere to the Responsible Luxury Initiatives Animal Sourcing Principles based on “five freedoms” aiming to protect animals from cruelty and discomfort. An ID number is lasered onto the inside of watch strap, so the customer can check its origin through the IWC app.

Laureus sporting event featuring a young soccer team

Laureus Sport for Good Foundation

The Foundation is a global non-government organisation uses sport as an effective tool to help children and young people overcome violence, discrimination and disadvantaged circumstances. The Foundation operates in line with the Sustainable Development Goals and addresses the following six social issues: Health, Education, Women and Girls, Employability, Inclusive Society and Peaceful Community. In 2022, our contributions helped the Laureus Sport for Good Foundation support 304 programmes across 42 countries and territories with grants, training and other technical assistance. Programmes were delivered in the Americas, Asia and Europe impacting a total of 244,116 children and young people of which nearly 48% were girls and young women and 52% boys and young men. These programmes change the lives of children and young people. We held several initiatives in 2022 and 2023 to raise funds for the Laureus programmes. Each year, we organise a drawing competition for children and teenagers based on a theme aligned with one of the United Nations Sustainable Development Goals (SDGs)*. Young people from Laureus supported programmes participate in the contest submit artwork that reflects their interpretation of the topic. The theme for the 2022 competition was “Time for Planet”, which focused on protecting the environment and tackling climate change. Three finalists were selected from programmes in Brazil, South Africa and Spain. The winner was João Paulo, a 13-year-old participant in Bola Pra Frente, in Rio de Janeiro, Brazil, a project that uses sport and cultural literacy to develop socio-emotional skills and citizenship in its community. João Paulo and his Bola Pra Frente programme can look forward to a visit by IWC and Laureus ambassadors.

ENGINEERING OPPORTUNITIES

Achieving the Great Start! Certification means that our apprenticeship program is original and inclusive, offers variety and an excellent foundation for these trainees to develop their skills and grow in our industry. In addition, each year we welcome approximately 50–60 interns to our company for six months and provide them with valuable hands-on experience, mentorship and training. We are driven by our commitment to foster a dynamic working culture now and in the future, and to help preserve the art and craftsmanship of Swiss watchmaking that has been passed down through generations, while also embracing new technologies and the latest innovations. We take pride in creating a working culture that encourages collaboration, creativity and innovation, and the recognition we receive within Switzerland and Europe, reaffirms our commitment to making our workplace an engaging and fulfilling place for everyone, including those who are just starting their professional development. We provide apprentices with the opportunity to learn and grow in this unique industry, and we believe that our workplace culture fosters an environment that encourages curiosity and a passion for excellence.

SUSTAINABILITY PRACTICES IN OPERATIONS

The IWC Schaffhausen Manufakturzentrum building

RENEWABLE ENERGY

Our operations in Schaffhausen run on 97% renewable direct energy. At our Headquarters and Manufacturing Centre, we take a hybrid approach to cooling and heating - we use groundwater and biogas. Biogas is a renewable energy source, and we source 90% of it from the European Union, with the rest coming from Switzerland.
WATER USAGE

Water is a precious resource and we are committed to using it responsibly. In Schaffhausen, we are fortunate to have sufficient water resources including the Rhine River, and groundwater sources close to our facilities. The freshwater we withdraw at our Headquarters and Manufacturing Centre is primarily used to heat and cool our buildings, for production purposes and general use. We measure every litre we take. Our water system is circular; groundwater used is released in equal quantity back into the groundwater or our local rivers. We also collect and discharge rainwater back into our local rivers.
RECYCLING

We are serious about recycling. We recycle all scrap metal including brass, steel and titanium. Gold scraps are sent back to the supplier and our Ceratanium® is incinerated. We receive annual certificates detailing the amount of waste collected and recycled by our waste disposal partners. At our Headquarters and Manufacturing Centre, waste generated is separated as much as possible and handed over to a certified, regional disposal company for recycling. This company works in accordance with the applicable laws, regulations and standards and must provide us with annual certificates to show proof of recycling. We keep track of the amount and type of waste generated per department through invoices we receive from the disposal companies.

OUR WAY FORWARD

OUR SUSTAINABILITY STRATEGY

Our Strategy is rooted in the understanding that sustainability is not just a moral imperative but a strategic necessity for sustained business success. Embedding sustainability into IWC’s strategy ensures that we comply with regulatory requirements, but also creates opportunities for growth and innovation.

Our strategy was shaped on comprehensive insights garnered through a bottom-up approach that involved key stakeholders across the organization. The Strategy is composed of eight “Strategic Actions”, focusing on transforming the organization’s approach to sustainability from a compartmentalized effort into a universal responsibility, understanding and reducing the environmental impact of our materials and products, reducing greenhouse gas emissions across our operations and supply chain, enhancing transparency and responsibility in sourcing, integrating biodiversity and nature conservation into our core operations, helping to foster health and well-being within the organization and inspiring and equipping young people with essential skills in sports and engineering.

OUR REPORTING

ESG Report Richemont

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OUR APPROACH TO SUSTAINABILITY

Our progress to date

WHAT WE DO - CASE STUDIES

Restoring Posidonia

THE DETAILS

TIMELINE

Sustainable Strap Alternatives

MIRATEX™

SWISS TRACEABLE CALF LEATHER

Laureus Sport for Good Foundation

ENGINEERING OPPORTUNITIES

SUSTAINABILITY PRACTICES IN OPERATIONS

RENEWABLE ENERGY

WATER USAGE

RECYCLING

OUR WAY FORWARD

OUR SUSTAINABILITY STRATEGY

OUR REPORTING