IWC SCHAFFHAUSEN ACHIEVES POSITIVE LUXURY’S BUTTERFLY MARK RE-CERTIFICATION
Schaffhausen, December 20th, 2022 – 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.
“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.
Read more about IWC’s vision, purpose and latest sustainability activities in their 2022 Sustainability Report 2022 – Navigating our sustainable future.
ABOUT POSITIVE LUXURY AND THE BUTTERFLY MARK
ABOUT POSITIVE LUXURY - Since 2011 Positive Luxury has been accelerating organisations' adaptation to the new climate economy. Its ESG+ products and services enable companies to manage risk, embed innovation and credibly foster consumer trust. Organisations that get certified receive the Butterfly Mark, a globally respected trust mark – independently verified evidence that they meet the highest standard of sustainability best practices across all four pillars of our framework.
ESG+ ASSESSMENT - Its proprietary ESG+ (Environmental, Social, Governance, and Innovation) assessment framework is the only one designed for the specific social, environmental and material risks of the luxury industry.
THE BUTTERFLY MARK - The Butterfly Mark certification is an independent trust mark awarded to luxury brands, retailers and suppliers that evidence tangible action to making a positive impact on nature and society. It has been created in consultation with the Positive Luxury Sustainability Council of over 22 leading global organisations and is rigorous, independent, and in line with the latest international standards and best practices.
IWC Schaffhausen is the Engineer of Watchmaking. In 1868, the American watchmaker and engineer Florentine Ariosto Jones established the ‘International Watch Company’ in Schaffhausen in the German-speaking part of Switzerland. By combining the best of human craftsmanship and creativity with cutting-edge industrial technology and processes, he laid the foundation for IWC’s unique engineering approach to watchmaking.
IWC’s distinctive and pure design is brought to life through collections ranging from elegant dress watches to sports and luxury sports watches, notably the Portugieser, Portofino, Pilot’s Watches and Ingenieur. Over its more than 150-year history, IWC has earned a reputation for creating professional instrument watches and functional complications, especially chronographs and calendars, which are ingenious, robust and easy to use.
A pioneer in the use of titanium and ceramic, IWC specializes in performance materials such as Ceratanium®. IWC’s advanced engineering division XPL develops technologies that enhance the durability of mechanical watches and extend their applications to environments with extreme conditions such as jet aviation and human spaceflight.
IWC is a leader in luxury watchmaking, crafting timepieces built to last for generations and continuously improving every aspect of how it manufactures, distributes and services its watches responsibly. Empowering the next generation of engineers, the brand also partners with organizations that work globally to support children and young people. IWC. EngineeredTM.