The Watch & Jewelry Initiative 2030 (WJI 2030) presented its second annual Stakeholder Report, “Report on Progress 2023 – 2024”, at Watches & Wonders on April 10, 2024.
The presentation was led by Iris Van der Veken, Executive Director & Secretary General of WJI 2030 and featured insights from industry leaders about the significance of collective action up to the year 2030.
Panel Discussion Overview
The discussion panel included Cyrille Vigneron (President & CEO of Cartier SA), Dr. Anino Emuwa (Founder of 100 Women @ Davos), Frédéric Grangié (CEO of Chanel Watches & Jewelry), and Dr. Daniel Klier (Advisor to the ESG Committee at WJI 2030), who shared perspectives on collective action within the industry.
Annual Progress: Strategic Focus Areas
The report outlines WJI 2030’s activities and goals across three strategic areas: climate resilience, resource preservation, and inclusiveness, detailing both achievements and future plans.
- Climate Resilience: The initiative has made strides in educating its members about science-based targets, with 48% of Maison and Partner members having submitted their Science Based Targets initiatives (SBTi) commitment letter. The SME Solutions Lab was launched in partnership with the United Nations Global Compact to support small and medium enterprises.
- Preserving Resources: WJI 2030 has increased member engagement on resource preservation through various educational formats, including the introduction of the Nature Primer. Currently, 29% of members have developed a Nature Roadmap, and further plans include the 2024 launch of the Nature Roadmap and Nature Playbook.
- Fostering Inclusiveness: Initiatives in this area include the development of the Human Rights Navigator Tool, the completion of the Gender Responsive Procurement (GRP) pilot in collaboration with UN Women, and initiatives related to Artisanal and Small Scale Mining Engagement.
Transparency and Reporting Enhancements
Working with ESG Book, WJI 2030 has been developing a comprehensive reporting framework aligned with contemporary ESG reporting requirements. This framework includes the identification of key topics, the development of a distribution of KPIs across the three pillars, and the creation of an accountability mechanism for reporting governance.
Industry Implications
The actions and future directions of WJI 2030 reflect the industry’s increasing focus on sustainability and ethical practices. For jewellers, the initiative’s report provides insights into ongoing industry shifts, emphasizing the significance of collective action for addressing major challenges. WJI 2030’s open sharing of its developments encourages industry-wide participation in sustainability and inclusivity efforts.
Cyrille Vigneron, President & CEO, Cartier SA, remarked: “No one has the power to change everything alone. Together we have a chance. We must not be discouraged by current setbacks. It just means we need to work harder and keep moving forward.”
Marie-Claire Daveu, Chief Sustainability & Institutional Affairs Officer, Kering, stated: “To succeed, it is vital that the entire supply chain, and your entire ecosystems are fully engaged. Our responsibility is not only to help our suppliers assess their impacts, but also to invest with them in doing so. Once more, the collective approach is key. WJI 2030 can help both on the strategic side and on the implementation of very concrete tools for immediate actions.”
Iris Van der Veken, Executive Director and Secretary General, WJI 2030, expressed: “As WJI 2030 navigates this journey, we look forward to continuing to work with the wider industry on smart collaborations. The consumer deserves trust and integrity and only together can we deliver towards this promise. We thank our Board, Members, Partners, and Key Stakeholders for supporting us in empowering this change.”
