IWC Schaffhausen has achieved Positive Luxury’s Butterfly Mark re-certification for its incorporation of measurable and verified environmental, social and governance practices into their business operations. First earned in 2014, IWC has been able to maintain its certification of the independent, globally respected trust mark following biennial assessments.
The Butterfly Mark Certification is the luxury industry’s leading sustainability certification assessed and awarded to companies worldwide by UK-based organisation Positive Luxury. IWC is one of nearly 200 companies to date that have achieved this designation.
Commenting on the re-certification, Franziska Gsell, IWC’s Chief Marketing Officer and Chair of the Sustainability Committee said, “With our sustainability journey it is important to receive external verification and independent certification of our continuing efforts to operate with the highest sustainability standards across our value chain. Maintaining our achievement of the Butterfly Mark since 2014 demonstrates our commitment to sustainability and that involves aligning our business practices and decisions to the latest international standards, global legislation and best practices.”
Certification is earned through a rigorous assessment and a company must score 50% or more in each of the four pillars of their ESG+ framework – environmental, social, governance and innovation, and the same overall rating to meet their minimum standards. Of the 29 criteria used in the overall assessment, IWC scored strong or good in over two-thirds of the categories. They were considered particularly strong in their sustainability reporting and people management approach. They also received very good marks for their operations, waste management, circularity, ethics and fair operating practices and their overall sustainability purpose, among others. Categories to improve included the areas of biodiversity and carbon capturing.
In addition to the assessment, Positive Luxury grants each certified client a set of Positive Actions, highlighting the areas where a company is excelling. This allows IWC to make credible, substantiated claims about its progress and success as it continues its sustainability journey.