The World Wildlife Fund (WWF) has issued a scathing criticism of the jewellery and watch industry, publishing a report raising questions about the environmental impact of the trade.
In a report titled ‘Time for Change’, the Swiss non-governmental organisation ranked 21 well-known luxury watch and jewellery brands based on environmental concern, human rights management, and sustainability practices.
CEO of WWF Colombia, Sandra Valenzuela de Narvaez, said that most jewellery companies still need to address sustainability and environmentalism issues.
“The WWF’s purpose in this report is to challenge the luxury watch and jewellery industry and demand more transparency regarding not only the origin but also the sourcing of the precious metals used by the world’s most important jewellery houses,” she said.
“Current mining activities pose major challenges for nature and local communities. They should, therefore, be tracked, understood, informed, documented, and analysed.
“While mostly not involved in the extraction of the precious metals themselves, watch and jewellery brands hold tremendous power to transform the status quo and support the formation of fairer, more transparent, and responsible value chains.”
Pomellato, a brand owned by Kering, received the industry’s highest score, with a rating of ‘ambitious’ alongside Tiffany & Co, Bulgari, IWC Schaffhausen, Cartier, Panerai, and Boucheron.
Pandora was ranked ‘upper midfield’ along with other prominent brands, including TAG Heuer, Omega, Tissot, Swatch and Longines.
Chopard, Audemars Piguet, and Rolex were all classed as ‘lower midfield’, while Patek Phillipe was deemed ‘latecomer and nontransparent’.
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