In addition to operational strategy, business transformation, performance management and process digitalization, Tomorrow by TW entered the field of ESG&R (environment, society, governance and risk) in 2017.
Discover one of our ESG&R support missions for one of our most prestigious customers in the watchmaking industry: Frédérique Constant, and how we guided them in some of their choices.
A sustainable approach to corporate strategy
Following the numerous IPCC reports and the alarm bells rung by many specialists, ESG&R is now included in corporate objectives. Despite a febrile post-covid market, the will of business leaders, consumers and politicians is there.
We have found that the corporate world is still reluctant to take on assignments of this type. The benefits are not yet perceptible, due to a lack of knowledge and hindsight. Integrating a sustainable approach into corporate strategy can and must absolutely combine profitability and efficiency: that’s what Tomorrow is offering !
ESG&R at Frédérique Constant
Tomorrow joined the Frédérique Constant team on an internal ESG&R project. Wishing to make a sustainable commitment to five pillars previously chosen by the factory (Logistics, Product, Reporting, Buildings/General Services and Human Resources), we helped them to implement various actions and thus confirm their ESG&R positioning. Our support took place over several months, starting with an inventory of the supply chain, so that the watchmaker could build its new business model.
Following the diagnosis, Tomorrow helped Frédérique Constant to redesign a questionnaire sent to its suppliers to find out about their commitment on this subject and offer the watchmaker a transparent view and complete traceability of supplies. When it comes to ESG&R, it’s important to measure and monitor the impact generated by purchasing, production and transport activities: from the materials used to certifications/labels (ISO, Kimberley Process, RJC, etc.), employee well-being in the workplace and suppliers’ environmental objectives, Frédérique Constant now knows the degree of commitment of each player. The company is now able to automatically weight ESG&R criteria and the results obtained. This study has enabled the company to review its sourcing strategy and turn to more responsible suppliers and/or relocate certain subcontracting tasks to more suitable countries.
On the other hand, despite initiatives already implemented on products such as bracelets, packaging and wrapping, the question arose as to whether or not to favor responsible industrial and production channels such as synthetic diamonds. Still underdeveloped in Switzerland and other countries, and despite a timid customer base, the Tomorrow Switzerland teams worked on financial ratios to enable Frédérique Constant to make the right decision regarding its positioning in this market.
The Tomorrow teams also helped Frédérique Constant to set up an energy footprint diagnostic and indicators, so that the company is aware of its carbon emissions, from the start of the supply chain to sales in the boutique, via the transportation of goods and energy consumption on the manufacturing site.
Another study, concerning the installation of solar panels on the Geneva site, was also carried out and enabled Frédérique Constant to position itself in the field of this renewable energy.
On the human resources side, actions have been proposed both within the company and for employees: improvements to daily life, help and support for various associations, events and teambuilding with ecological actions, ect.
The main task for Frédérique Constant is now to communicate externally on these different themes. A benchmark has been carried out and recommendations have been made to the watchmaker to share with its customers and suppliers the various actions implemented, as well as the Manufacture’s strong commitment to Green.
A dedicated ESG&R page will soon be online on the watchmaker’s website: FSC packaging, responsible suppliers, products made from recycled or plant-based materials (recycled plastic bracelets, apple leather straps), solar panels, actions implemented within the company and for employees, help and support for various associations… It is of major importance to communicate on these key points, as customers are currently looking for low-carbon impact products. All this support has been done while taking into account the various risks for the factory and proposing a new governance plan.
Sustainable solutions tailored to your priorities
It is essential for Tomorrow by TW to define and manage action plans tailored to each company’s priorities and needs (organization, workflows, risk assessment tools and procedures, etc.), to pursue each company’s development over the long term, while supporting change, governance implementation and continuous improvement processes.
Tomorrow by TW has a proven track record in ESG&R, and guarantees you concrete results and benefits: put your trust in us, and let us support you in this new area of business!
