Editor’s Note
IWC Schaffhausen has achieved a significant milestone in its commitment to responsible sourcing, earning the RJC’s Chain-of-Custody certification. This voluntary standard verifies the traceability and ethical procurement of precious metals in its supply chain, reinforcing the brand’s dedication to sustainability and transparency.
March 4, 2021, Schaffhausen – Swiss luxury watch manufacturer IWC Schaffhausen is proud to announce that it has been awarded Chain-of-Custody (CoC) certification by the Responsible Jewellery Council (RJC). Having long adhered to the RJC’s Code of Practices (COP), this voluntary standard confirms that the gold and platinum used in IWC’s supply chain are sourced from fully reliable origins and procured in full compliance with responsible principles. This also marks a significant step forward for the Swiss luxury watch brand towards its goal of “crafting exceptional timepieces exclusively from traceable precious metals.”
The Responsible Jewellery Council is a non-profit organization founded in 2005 and one of the most advanced international standard-setting bodies for the jewelry and watch industry. It is dedicated to optimizing the entire industry chain from mining to retail, urging companies to conduct business activities that are most beneficial to the environment, society, and ethics. In addition to the mandatory Code of Practices, which requires members to conduct independent internal audits, the RJC also monitors the traceability of precious metals through the voluntary Chain-of-Custody certification standard. Demonstrating its forward-thinking and proactive nature, IWC applied for the RJC CoC certification last year, taking a significant step towards achieving its 2022 sustainability goals.
Unlike the Code of Practices, which focuses on “corporate integrity and responsible supply chains,” the complementary Chain-of-Custody certification aims to ensure that the raw materials used by the brand—whether newly mined or recycled—are sourced in a traceable and trustworthy manner under strict management systems and rigorous third-party audits. Furthermore, this certification process oversees and endorses every single link in the supply chain, allowing for a complete understanding of a product’s journey from source to sale, witnessing a story without omission. Successfully passing the audit and obtaining CoC certification is a crucial part of this story, a significant milestone in IWC’s sustainability journey, demonstrating the brand’s unwavering commitment to and consistent implementation of transparency.
Franziska Gsell, CMO IWC Schaffhausen and Sustainability Committee Chair
IWC has been a committed member of the RJC since 2012. For years, the brand has adhered to the principle of transparency in its business operations and vigorously promoted supply chain traceability. The brand made a long-term commitment long ago: to source raw materials not involved in conflict, human rights violations, child labor, or environmental harm; and all of its precious metal and diamond suppliers are RJC-certified members. As a Swiss watchmaker, IWC joined the RJC nine years ago, in 2012, because the brand deeply recognized the crucial role the RJC plays in upholding responsible standards in the global jewelry supply chain, which fully aligns with the UN Guiding Principles on Business and Human Rights and the OECD Due Diligence Guidance. After successfully passing the RJC Code of Practices certification in 2014 and 2017, IWC became the first luxury watch brand certified under the stricter 2019 version of the standard in 2020, once again leading the luxury watch industry. The newly revised Code of Practices standard imposes stricter regulations on what constitutes “responsible business practices, activities, and supply chain management.”
Iris Van der Veken, Executive Director, Responsible Jewellery Council
February 2021 – IWC successfully passes RJC Chain-of-Custody (CoC) certification.
July 2020 – IWC releases its second sustainability report in accordance with Global Reporting Initiative (GRI) standards, continuing this pioneering industry move.
April 2020 – IWC becomes the first luxury watch brand certified under the RJC’s 2019 revised Code of Practices (COP).
September 2019 – IWC becomes the first Swiss luxury watch brand to receive “Great Place to Work” certification.
April 2019 – IWC introduces breakthrough new packaging, significantly reducing pollutant emissions during transportation.
January 2019 – IWC signs the New Plastics Economy Global Commitment, pledging that by 2025, 100% of plastic materials used in its packaging will be recyclable, reusable, or compostable, while also taking steps to phase out single-use plastics from all its operations.
December 2018 – A report by WWF Switzerland, assessing the environmental impact of 15 brands, rates IWC as the top performer in the Swiss watch and jewelry industry.
April 2018 – IWC becomes the first Swiss luxury watch brand to publish a sustainability report in accordance with the GRI global “best practice” standards.
2018 – IWC, certified by the Forest Stewardship Council (FSC), introduces shopping bags made from 100% recyclable materials that can be recycled again.
2017 – IWC publishes its first sustainability report (non-GRI) and wins the bronze award at the 2017 International CSR Excellence Awards.
2014 – IWC wins the “best CSR in Switzerland” award from the renowned trade magazine Capital Finance International.
Since 2014 – IWC obtains RJC Code of Practices certification.
Since 2014 – IWC first receives the Butterfly Mark from Positive Luxury and has retained it ever since.
2012 – IWC joins the RJC and wins the Walpole Award for Excellence in Corporate Social Responsibility.