GlobalData offers a comprehensive analysis of Swatch, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Swatch’s ESG performance. GlobalData’s company profile on Swatch offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
Swatch, a leading Swiss watchmaker, has specific goals related to scope 1, scope 2, and scope 3 emissions, which encompass direct emissions from its operations, indirect emissions from purchased electricity, and other indirect emissions from its value chain. It has set an ambitious target as part of its sustainability efforts to achieve climate neutrality for scope 1 and 2 greenhouse gas (GHG) emissions by 2050 and to reduce the Scope 3 emissions to a minimum.
In 2022, Swatch reported its scope 1 emissions amounted to 18,153 tonnes of CO2e and scope 2 market-based emissions amounted to 33,915 tonnes of CO2e. The location based Scope 2 emissions were registered at 31,204 tonnes of CO2e. Further, the company has adjusted the source of emission factors used to calculate scope 2 emissions for 2022. The company also estimates emissions from various sources, including transportation, business trips, and employee commuting.
To achieve its climate neutrality targets, Swatch has implemented measures to reduce emissions. The company has made investments in research and development, particularly in the fields of microfabrication, digitalization, and renewable energies. It is also actively working on improving its energy consumption and intensity. Swatch is committed to reducing its GHG emissions and has set goals for emission reduction.
In conclusion, Swatch is focused on achieving climate neutrality targets and reducing its GHG emissions by 2050. It is actively taking steps to calculate, report, and reduce its emissions. Through investments in research and development and efforts to improve energy consumption, Swatch is working towards its sustainability goals.