The Watch & Jewellery Initiative 2030 hosted its members, strategic partners and key experts for the second time on Wednesday February 15^th at the WJI 2030 Members Workshop. The goal for the day was to be inspired, to update members on the current status and progress made till date, explore the active role members can play in governance, and start actioning the 3 strategic pillars, building on the expectations shared during our first members workshop in October 2022. The priorities were clear, and how we move forward is fundamental to delivering our goals in a pragmatic approach.

When it came to actioning the 3 pillars, our members, partners, and experts came together to shape the vision for delivering positive impact, discussing concrete actions and developing roadmaps that will help us launch new workstreams and deliver on our 3 key pillars: Climate Resilience, Preserving Resources, and Fostering Inclusiveness.

On each of these topics working groups were organised in order to share input and experiences, allow members to provide suggestions, and more importantly, agree on meaningful commitments on a large range of stakes such as biodiversity, human rights and climate change.

Two workstreams have been launched on gender responsive procurement with UN Women and transparency reporting with ESG book.

We had the privilege of welcoming Mr. Cyrille Vigneron during the workshop, to share some insightful perspectives and engage in a Q&A discussion with our members. CEO leadership is fundamental to this initiative, and it was a pleasure to welcome Mr. Cyrille Vigneron to demonstrate why commitment needs to be at the highest level. 

The WJI 2030 is looking forward to embarking on this critical journey with its members from many of the world’s leading Watch and Jewellery organisations, and sharing our roadmap ahead in the coming weeks.  

New York, February 09 2023 – The Watch & Jewellery Initiative (WJI) 2030 announced a new collaboration with the United Nations Global Compact launching a Small Medium Enterprise (“SME”) SDG 2030 Solutions Lab.

This strategic collaboration focuses on educating SMEs in the global watch and jewellery industry on key topics, including design thinking in sustainability, decent labour, human rights due diligence, climate action, biodiversity, and inclusiveness with a focus on gender and intersectionality.

The Solutions Lab aims to provide a harmonised practical education programme with key expertise from the UN Global Compact and key stakeholders to guide the sustainability journey of SMEs in the global jewellery and watch industry to enhance transparency and operationalise sustainability throughout the value chain. Other topics in the solutions lab will include innovation and technology to attract youngsters to our industry to train in artisanal and other skills.

It is estimated that SMEs constitute more than 70% of businesses in the global jewellery and watch industry.

These enterprises are often family businesses committed to doing good but require additional capacity-building through education and practical toolkits. A stakeholder consultation led by the WJI 2030 determined the SME and supplier community needs more practical guidance and alignment on key sustainability topics.

Using a data-driven practical approach through this project with the UN Global Compact, the WJI 2030 plans to launch a working group in March 2023 in collaboration with CIBJO, the World Jewellery Confederation; BJOP, the French Union of Jewellery; and the Design Department of Politecnico di Milano. The objective is to develop a replicable and scalable framework to enhance responsible supply chain practices that should lead to a value-creation strategy for all SMEs in the global jewellery and watch industry, increase transparency reporting, and show progress over time.     

During the project’s initial implementation, participating future-forward SMEs will receive hands-on, personalised guidance and assistance to start the journey. A formal consultation process will be launched where key associations, NGOs, and jewellery and watch players can contribute on the content development. Best practices will be shared in the WJI 2030 Solutions Lab and shared with the broader industry.

Given the pivotal role SMEs play in driving economic development, poverty reduction, job creation, economic emancipation, and overall well-being, the SDG 2030 SME Solutions Lab seeks to prove that it is possible – and profitable – for small businesses to do the right thing, the right way, in the global jewellery and watch industry.

Marie-Claire Daveu, Chief Sustainability Officer and Head of Institutional Affairs, Kering, said: “We are happy to witness today’s launch of the UN Global Compact SME collaboration – it is a great new step for the WJI 2030. The roadmap is clear, and we need to collaborate with all key stakeholders to make this a successful pilot. It is our aim to explore long-term systematic solutions that will advance sustainability in our wider supplier communities.”

Cyrille Vigneron, President & CEO, Cartier International, commenting on the launch, said: “All Sustainable Development Goals require sectors cooperation between clients and suppliers through the entire value chain. This implies large corporations as well as small and medium size companies. By translating and adapting the SDG to these small and mid size companies, they will get the framework they need to build concrete actions plans and sustainability road maps, consistent with their clients and own suppliers plans.”

Iris Van der Veken, Executive Director & Secretary General, Watch & Jewellery Initiative 2030 said:

“SMEs are at the heart of the global jewellery and watch industry. The 2030 agenda is about leaving no one behind. It is an important moment to step up and work closely together and take the SDGs as a catalyst for responsible business, growth and innovation across the value chain with a focus on the SME’s.  We will invite key stakeholders around the table to share best practices, develop practical and meaningful tools to strengthen transparency and operationalise sustainability into their businesses. We have an enormous opportunity and duty to attract young talent to inspire them to work for our industry. That will require a new mindset of design thinking in sustainability and more cooperation than ever.”

About the Watch & Jewellery Initiative 2030

Cartier, delegated by Richemont, and Kering launched the Watch & Jewellery Initiative 2030  driven by a common conviction that the UN Sustainable Development Goals (SDGs) and aspirations for a sustainable industry can only be achieved through collaborative initiatives. The global initiative is open to all watch and jewellery players with a national or international footprint. It is committed to a common core of key sustainability goals in three areas: building climate resilience, preserving resources, and fostering inclusiveness. The association is based in Maison de La Paix in Geneva. For more information, visit our website www.wjinitiative2030.org

About the United Nations Global Compact

As a special initiative of the UN Secretary-General, the United Nations Global Compact is a call to companies everywhere to align their operations and strategies with Ten Principles in the areas of human rights, labour, environment, and anti-corruption. Our ambition is to accelerate and scale the global collective impact of business by upholding the Ten Principles and delivering the Sustainable Development Goals through accountable companies and ecosystems that enable change. With more than 17,000 companies and 3,000 non-business signatories based in over 160 countries, and 69 Local Networks, the UN Global Compact is the world’s largest corporate sustainability initiative — one Global Compact uniting business for a better world. For more information, follow @globalcompact on social media and visit our website at www.unglobalcompact.org

WJI 2030 is guided by the Ten Principles of the United Nations Global Compact and the 17 Sustainable Development Goals. We welcome companies and key stakeholders to join our movement to accelerate positive impact in three areas: building climate resilience, preserving resources, and fostering inclusiveness. At a time of intensifying global uncertainty, we believe it is important to step forward and work together to tackle the challenges we face. Human Rights is at the heart of our third pillar inclusiveness.

We will be sharing a quarterly Newsletter to update our stakeholders on some leading insights in the sustainability landscape. Multi-stakeholder engagement is central to our work. In the past few months we have been engaging with many organisations, associations, NGOs, the academic world, and policy makers to understand their perspective and expectations on the deliverables of the WJI 2030.  We will launch our first stakeholder report in early 2023.

In parallel we have been shaping a robust governance framework. We organised our first members’ workshop, and now we are building a Roadmap ahead in collaboration with our strategic partners Boston Consulting Group, BSR and ESG Book. As we are further evolving, we will update you regularly.

Enjoy this newsletter and we welcome your feedback at insight@wjinitiative2030.org.

Kindest regards,
Marie-Claire Daveu,
Chief of Sustainability & Institutional Affairs Officer,
Kering, Watch & Jewellery Initiative 2030 Board Co-Chair

Cyrille Vigneron,
CEO and President, Cartier,
Watch & Jewellery Initiative 2030 Board Co-Chair

Iris Van der Veken,
Executive Director & Secretary General,
Watch and Jewellery Initiative 2030

At COP27, public- and private-sector leaders united to seek solutions to combat the devastating effects of climate change, requiring governments, corporations, finance, and civil society to mobilise and act now. Click here for various resources and reflections on the outcome of COP27.

BCG at COP 27 

Climate action is an ongoing process, not an event, and it requires extraordinary collaboration. COP27 served as a critical opportunity for business and government leaders to double down on their climate goals, forge new collaborations, and achieve innovative solutions—together. BCG’s climate experts joined leaders around the world in Sharm El-Sheikh to seek innovative solutions to the problems caused by climate change.

Read here for more information 

Read here for an inside perspective from BCG

UNEP: COP27 ends with announcement of historic loss and damage fund

In negotiations that went down to the wire over the weekend, countries reached a historic decision to establish and operationalize a loss and damage fund, particularly for nations most vulnerable to the climate crisis. While many details remain to be negotiated, the fund is expected to see developing countries particularly vulnerable to the adverse effects of the climate crisis supported for losses arising from droughts, floods, rising seas and other disasters that are attributed to climate change.

Read more here

REUTERS: After ‘disappointing’ COP27, calls grow for new approach to fighting climate change

Many are calling for fundamental reform of the COP process, something that could well be on the agenda at COP28 next year in Dubai, when the first-ever Global Stocktake of progress on climate action since the Paris Agreement was signed in 2015 will be published.

Read more here

Read more from REUTERS on COP27 here

In honour of Human Rights Day December 10th, we commemorate the day when the United Nations General Assembly adopted the Universal Declaration of Human Rights (UDHR). It was drafted as “a common standard of achievement for all peoples and nations” and was the first universal statement that all human beings have certain inherent rights that are inalienable. At that time, it was an unprecedented and novel declaration.

Almost three-quarters of a century ahead, we now think of this as a widely accepted, perhaps even unremarkable and axiomatic truth. However, we know that there is much work still to be done. As the famous quote attributed to Martin Luther King goes, “the arc of the moral universe is long, but it bends towards justice.” And in this long arc, there are periods of both progress and regression. We live in a world today, where for many groups of people, the vision of inalienable rights and equality is still a faraway dream. From Iran to China, there are millions of people striving to make this dream an everyday, lived reality.

My strongly held view is that human rights must be at the heart of our strategies – in how we govern, lead, and do business. We need to acknowledge the potential we carry to impact the lives and livelihoods of peoples and communities that we touch through our work.

In the last twenty years, I have seen our industry evolve and embrace this vision. These changes have been far-reaching, deep, and meaningful. They have spanned the gamut of operations – from mining to retail. However, there is an urgent need to do more: to accelerate our efforts through collective movement and the work we do with suppliers, employees, and the broader community. In other words, to advance the cause of human rights for all. It is with this unshakeable belief in the power of collaborative effort that the Watch and Jewellery Initiative 2030 was launched.

I feel fortunate and grateful to have the opportunity to spearhead this initiative. For me, the causes have a deep personal resonance. One of the key themes – gender equality – is a cause I am often vocal about and one that has unfortunately regressed in recent times, owing to a perfect storm of macro-economic and world events.

I also recognise that progress comes in fits and starts. Our efforts will not be perfect but as long as we keep our compasses tuned in the right direction, keep the momentum going and stay true to ourselves about how we measure progress, I carry immense hope.

It is with this hope for a better and more just tomorrow that I take this opportunity to launch our quarterly newsletter. We chose this date because we believe that human rights are at the core of our sustainability journeys.

On behalf of my team and our stakeholders, I look forward to working closely with you on our shared objectives.

Bernadette Pinet-Cuoq, Executive President of French jewellery and gemstones association UFBJOP, speaks about why the group joined WJI 2030 and of the importance that other trade members follow suit to drive forward a shared vision to contribute to strengthening climate resilience, conserving resources and fostering inclusion in the jewellery sector. 

Why has UFBJOP joined WJI 2030?

The UFBJOP places at the heart of its mission the support of companies in implementing ambitious policies in terms of social and environmental responsibility. Thus, from the creation of the Responsible Jewellery Council nearly 20 years ago, the Union has supported its members in obtaining RJC certification. It has made the Code of Practices accessible to all its members and continues to support them in the application of the new standard and the renewal of accreditations.

It was therefore an obvious decision for the Union to join the WJI 2030 last September as an affiliate member, in the belief that our industry should make a concrete and effective commitment to achieving the United Nations Sustainable Development Goals: strengthening climate resilience, conserving resources and fostering inclusion.

Why is this Initiative important?

The Watch and Jewellery Initiative is important but above all fundamental. It is innovative and well-structured.

• Innovative, because it will engage our industry in concrete actions to protect our planet and link the jewellery sector to the most demanding and highest environmental and social standards.
• Well-structured, because it is a collaborative approach that brings together stakeholders in the value chain, and in the individual and collective transformation of the sector.

Do you recommend that other groups in the jewellery and gemstone industry join WJI 2030? What types of entities should join?  Why is it important that they do so?

We hope that companies in the sector will mobilize around the Initiative: brands, manufacturing workshops, traders in precious metals, and traders in precious stones. For this action to be crowned with success, the Union must support its members in this process. This is why the Union has already undertaken action to raise awareness among its members of the importance of the WJI 2030, which addresses the challenges of sustainable development in the sector. 

We are pushing forward implementation of a CSR policy in the corporate sector. Ten workshops joined the first session of our “CSR Impact” programme, which takes place in several stages: collective training on social and societal environmental issues, individualized support in structuring the CSR policy from the outset to an action plan, and implementation.

Based on this feedback and in order to facilitate CSR actions by as many people as possible, we are going to establish a simplified sectoral framework for CSR.

CIBJO, World Jewellery Confederation President Gaetano Cavalieri urges members across the industry to join WJI 2030 and support its programme to advance standards in society and the environment.

Why has CIBJO joined WJI 2030?

GAETANO CAVALIERI: CIBJO has been formally committed to the Sustainable Development Goals since they were declared by the United Nations in 2015, and indeed the Millennium Development Goals that preceded them. We have worked for the achievement of the UN development programme and promoted its objectives within the industry since 2006, when we became the jewellery industry’s representative in the UN’s Economic and Social Council (ECOSOC), where we have special consultative status. And we joined the UN Global Compact.

This aspirational responsibility, which is to say that as members of the industry we not only have an obligation to do no harm, but to have a positive societal and environmental impact as well, made the decision to join WJI 2030 a very easy one. Simply stated, we share a common vision.

Why is this Initiative important?

GAETANO CAVALIERI: It is not sufficient to profess that you believe in an ethical jewellery and watch trade. You need to show that you live and act by those principles, and today that also includes proactively having positive impact. WJI 2030 promotes this, and will help us establish our credentials not only in the marketplace, where consumers are considerably more likely to demand that the products they buy have societal value and are sustainable, but just as important among our millions of stakeholders in the countries and regions where we source our raw materials. 

Do you recommend that other groups in the jewellery and gemstone industry join WJI 2030? What types of entities should join and why is it important that they do so?GAETANO CAVALIERI: Absolutely. We recommend that all entities in the industry consider joining the effort. WJI 2030 should not be considered a restricted domain for large brands, but rather a mark of honour that all members of our industry should strive for.

By Tiffany Stevens, Esq., CEO & General Counsel and Sara E. Yood, Esq., Deputy General Counsel, Jewelers Vigilance Committee

The United States of America’s regulatory system can provide deep insight into the issues that are a priority for both the presidential administration and Congress.  Various federal agencies are tasked by the President to implement laws passed by Congress and to ensure that the administration’s efforts across the country and worldwide are achievable.  Over the past year, three areas have specifically stood out as priorities that are relevant for the jewelry and watch industries: sanctions, anti-money laundering compliance, and sustainability claims in advertising.  These three major areas of development will continue to be incredibly important in 2023 even with a divided Congress.

The U.S. sanctions on the Russian Federation and Alrosa – a Russian government-controlled entity — came swiftly after Russia’s unjustified invasion of Ukraine in February 2022.  At first, the Treasury Department simply restricted Alrosa’s ability to access credit and placed its CEO on the Office of Foreign Assets Control’s Specially-Designated Nationals (SDN) list, a list of entities and people with whom U.S. businesses are prevented from transacting.  As the war progressed in March, President Biden issued an executive order banning direct import of rough and polished diamonds from the Russian Federation to the U.S.; in April, Treasury added Alrosa itself to the SDN list, effectively prohibiting all further transactions between U.S. companies and Alrosa.  The U.S. government’s aim was to restrict U.S. money from funding the war in Ukraine, and although these restrictions seem directly aimed at the jewelry industry, they are simply one part of a multi-governmental and multi-sector strategy to keep the Russian Federation from using foreign money to fund their war. 

Much has been discussed in the industry about the fact that Russian diamonds cut and polished in another country are considered a product of the second country under a U.S. Customs rule and are therefore not blocked from import and sale in the U.S.  Although it is true that this is a significant pathway for Russian diamonds to be sold in the U.S., the government officials who work on these issues are being careful to ensure that maximum damage to Russia’s fundraising is done without fully preventing U.S. businesses from operating as normally as possible.  It is difficult to unwind sanctions generally, and in this situation with the war ongoing, it is highly likely that the U.S. will be operating with these restrictions for a long time.

Anti-money laundering issues remain a high priority as it is one of the primary ways the U.S. government can use existing laws (the Bank Secrecy Act of 1970 and the PATRIOT Act of 2001) to ensure that certain types of U.S. companies (including precious metals, gems and jewelry dealers) fully evaluate and identify their business partners.  A healthy AML program would account for the issues with the Russian Federation described above and provide a roadmap for U.S. businesses in how to proceed.  In December 2020, Congress passed a law adding antiquities dealers to the list of industries required to have an AML program, and also included a requirement for U.S. companies to list beneficial owners in a national registry.  This was based on guidance from the Financial Action Task Force, which emphasized that shell companies can be used to disguise the pathways of money laundering and terrorist financing.  Registration will be required of U.S. companies beginning January 1, 2024.

Finally, the Federal Trade Commission (FTC) announced that it will begin its revision of the Green Guides – guidelines for making green and eco-friendly claims – in 2022.  While the process has not yet begun, JVC expects the FTC to issue its first request for comments before December 31, 2022.  Once issued, the public will have 30 days to respond to the FTC’s initial set of questions and JVC plans to coordinate the industry’s response.  The Green Guides provide marketers with guidance to make claims, but the last revision in 2012 left out any definitions for “sustainable” or “responsibly sourced”, leaving marketers free to use that terminology without data or meaning attached.  While the outcome of the revision will be essential, these Guides apply across industries, meaning that the jewelry and watch industries must unite to ensure their special perspectives are heard.  JVC plans to coordinate the industry response to the FTC to ensure the unique jewelry perspective is heard and valued in the revision process.

Anyone in the industry with comments or data about eco-friendly and green claims is welcome to participate in the process; JVC will be sure to send alerts and invitations to our working groups in the industry when the comment period begins.  This process can take years to finish, so we hope everyone will stay engaged to ensure this terminology is actually meaningful going forward.

The Jewelers Vigilance Committee is a non-profit trade association in the United States that provides legal and compliance guidance to the entire jewelry and watch supply chains.  JVC members pledge to uphold the ethics and compliance practices of the industry.  Learn more and apply for membership at www.jvclegal.org.