In an effort to address the challenges posed by the Covid-19 pandemic and global environmental and social issues, Swarovski, the Austrian crystal maker, has announced a series of new sustainability goals under the leadership of CEO Robert Buchbauer. Buchbauer emphasized the importance of businesses reassessing their role in society and making meaningful contributions.
While acknowledging the progress that Swarovski has already made in tackling pressing issues, Buchbauer stressed the need for further action. As a result, the company has revealed three new environmental commitments and three social initiatives.
On the environmental front, Swarovski has set a goal to significantly reduce its greenhouse gas emissions across its entire value chain by 2030. To achieve this objective, the company has pledged to participate in the Science Based Targets initiative. Swarovski also intends to improve the sustainability of its products by utilizing responsibly sourced and recycled materials. Additionally, the company will implement circular business models to minimize waste throughout its value chain.
In terms of social initiatives, Swarovski is dedicated to promoting diversity and embracing individuality. The company aims to establish itself as a brand that stands for equality and inclusivity. Furthermore, Swarovski plans to expand its educational initiatives and prioritize the health and safety of its employees worldwide. Compliance with global standards set by organizations such as the International Labour Organization, the United Nations, and the Responsible Jewellery Council will be of utmost importance.
Buchbauer’s appointment as CEO last year coincided with Swarovski’s decision to restructure its operations, simplify its organization, and redefine its brand image. The announcement of these sustainability goals follows the recent opening of Swarovski’s Instant Wonder concept store in Paris, which embodies the brand’s new vision.
To ensure transparency, Swarovski will document its progress in achieving these sustainability commitments through its digital channels and sustainability reports. The implementation of the company’s latest initiatives will begin on April 22, further highlighting its ongoing dedication to sustainability and responsible business practices.
Useful links:
1. Swarovski Sustainability
2. The Guardian: Swarovski sets sustainability goals to reduce greenhouse gas emissions
