By Nancy Olson
Corporate sustainability is such an important concept, but too-often used as a “buzz phrase” for half-hearted endeavors that motivate little real change. Not so with IWC Schaffhausen, who began its sustainability journey over a decade ago, more recently setting several consequential goals to accomplish by 2022.
“Sustainability permeates our entire business—at all divisions, at all levels,” says IWC Schaffhausen CEO Chris Grainger-Herr. “It drives us to think smarter, to innovate, and to take advantage of the opportunities that being a more responsible company creates.”
In July of this year, the company released the fourth edition of its Sustainability Report, demonstrating achievements in many areas set forth and significant strides in others. And truly buzz-worthy, the foreward to the report is by environmentalist and supermodel Gisele Bundchen, IWC’s newly appointed Environmental & Community Projects Advisor. A seasoned advocate, Bundchen has served as a Goodwill Ambassador for the United Nations Environmental Program, and she has been honored by Harvard University and UCLA for her interest in environmental issues.
IWC Sustainability Key Developments
Among IWC’s achievements is the certification of its watch components, ensuring that the gold and platinum used in its supply chain are traceable and responsibly sourced. The company also now purchases 100% renewable energy globally and developed and piloted a blueprint for sustainable events. On the people side, IWC has maintained its “Great Place to Work” certification, while achieving Equal-Salary certification in Switzerland.
Other key developments since 2020 include the elimination of single-use plastics at IWC’s headquarters and boutiques. The company has also continued to partner with notable organizations around the globe, such as Laureus Sport for Good and Save the Children.
IWC Sustainable MiraTex Straps
IWC launched TimberTex straps in 2021, which use 80% plant-based fibers sustainably sourced from European forests. And following this launch, the company announced another low-carbon-footprint strap material: MiraTex™, a bio-based composition engineered in collaboration with Natural Fiber Welding, a material innovation company. MiraTex is completely free of petrochemicals and plastics, using instead such friendly ingredients as natural rubber, cork powder and mineral colorants. Soybean oil, used in the curing process, reacts with the natural rubber and gives the material durability and luster.
By the end of the year, IWC expects further accomplishments, such as the phasing out of the purchase of non-FSC (Forest Stewardship Council)-certified forestry products. It also intends to double its annual corporate volunteering hours compared to a 2020 baseline and double the number of women in managerial positions compared to a 2017 baseline. Well done.