Initiative 2030: a Cartier and Kering alliance for more responsible jewelry
Kering hopes to make the watch and jewelry sector more responsible, repeating what it has already done for the fashion industry, with the 2030 Watches and Jewelry initiative .
The French luxury group has teamed up with Cartier, part of rival conglomerate Compagnie Financière Richemont, to launch the Watch and Jewelry Initiative 2030 in partnership with the Responsible Jewelry Council. The project marks its latest cross-industry alliance to develop industry-wide targets to protect the environment.
Unlike the Fashion Pact , launched in 2019 with 32 signatories, the Watch and Jewelry Initiative is starting more modestly. In addition to Cartier, Kering's watch and jewelry brands are joining. The division includes jewelry brands Boucheron, Pomellato , DoDo and Qeelin, and luxury watch brands Ulysse Nardin and Girard-Perregaux.
Initiative 2030: open to all jewelry and watch brands
“ The initiative is open to all watch and jewelry players with a national or international footprint who are committed to dedicating their resources and energy to continuous improvement on the theme of sustainability. As well as to developing a vision of excellence for the sector, regardless of their current situation, market segment or position in the value chain, ” Cartier and Kering said in a joint statement on Wednesday.
This means that like the Fashion Pact, the initiative will extend to high and low level players. So including brands, retailers and suppliers. Members must commit to progress in these 3 areas:
- Strengthening climate resilience
- Preservation of resources
- Inclusion policy
Members of the Initiative 2030 alliance will be required to report regularly on progress.
Cartier and Kering: a privileged relationship since 2017
Cartier and Kering have built on their existing relationship. They have been partners in eyewear since 2017 and the deal involved Richemont buying a 30% stake in Kering Eyewear. Kering and Richemont are also among the companies that this year joined an initiative to improve the traceability of colored stones.
The Watch and Jewelry 2030 Initiative aims to support the United Nations' 17 Sustainable Development Goals. They were set to achieve measurable progress by the end of the decade in areas ranging from poverty and gender to climate change, inequality and closing the gap between rich and poor.
Cyrille Vigneron, president and CEO of Cartier, said it was clear that collective action had become necessary.
“ More than ever, we remain committed to sharing our shared vision of a future in which all houses, their suppliers and business partners are empowered to collaborate on projects that have a positive impact on the planet and its people, ” he said in the statement.
Jean-François Palus, CEO of the Kering group , said that this initiative is part of the group's existing commitments. Since 2011, Kering has been quantifying its impact on nature throughout its supply chain.
Have a real impact on the environment and society with the 2030 jewelry and watches initiative
“ At Kering, we believe that luxury is inseparable from the highest environmental and social standards, and that it is our responsibility, as major luxury players, to initiate the changes necessary to protect our planet, ” said Palus.
" For watchmaking and jewelry, as for fashion, we believe that collectively committing to a common framework of quantified environmental objectives around a few themes is the best way to have a real impact, " he added.
Those who join the initiative must commit to reducing their carbon emissions with the goal of limiting global warming to 1.5 degrees Celsius and achieving net zero greenhouse gas emissions by 2030. At a minimum, they must commit to signing and submitting the Science Based Targets Initiative by 2022, the two companies said.
Helping vulnerable populations in the watch and jewelry industry value chain and contributing to low-carbon solutions for these communities is one of the other objectives pursued.
Members must also commit to measuring and prioritising their impact on biodiversity and water through their sourcing of key raw materials. Moving forward, they will need to ensure that supply chains are free of products from ancient and endangered forests. But they must also commit to restoring habitats where mining and other extractive activities take place.
- Cartier wedding ring for women and men
Involvement of the Responsible Jewelry Council
Participating brands are required to join the Responsible Jewelry Council and be certified to its code of conduct. This is an international standard for responsible business practices for diamonds , colored gemstones, silver, gold and platinum group metals.
Iris Van der Veken, director of the Responsible Jewelry Council, said she hopes everyone in the industry will get involved. “ Working the old way is no longer an option, ” she said.
The Fashion Pact launched by Kering two years ago now has 70 signatories, including retailer H&M, Adidas and Nike, Gap Inc., Ralph Lauren Corp., Chanel, Hermès, Prada, Ferragamo, Giorgio Armani and Burberry, among others.
LVMH Moët Hennessy Louis Vuitton is not part of it, partly due to concerns about being associated with sports brands. However, LVMH is a signatory to the Gemstones and Jewelry Community Platform, a responsible colored gemstone initiative.
