Swiss luxury group, Richemon, has released its annual Sustainability Report, which outlines the company's continuous Environmental, Social, and Governance (ESG) performance and achievements over the last year.

New hires within its leadership team have boosted its ESG stance, including the hiring of Bérangère Ruchat as chief sustainability officer and Jasmine Whitbread as the new head of the Governance and Sustainability Board Committee.

Ruchat said that with her team, she further defined the group's ambition to accelerate and magnify the group's ESG transformation. Their goal is to instill an impact-driven attitude in their employees, allowing them to comprehend and incorporate environmental and social factors into every business decision. They’re dedicated to expanding their sustainability reporting and operating with the greatest degree of corporate governance, in accordance with worldwide standards.

Richemont said it was making progress toward its goal of using 100 percent renewable power across all of its facilities by 2025, which it is presently doing at 92 percent. It also stated that by December 2022, it would have eliminated polyvinyl chloride (PVC) from its goods and packaging.

Richemont claimed it had contributed a total of 42 million euros to investment-related initiatives in the domains of healthcare, social and economic development, education, and the welfare of women and children.

In addition, the business released the findings of its first Product Social Impact Assessment (PSIA) on small-scale gold mining, which evaluated and measured individual operators' performance.