WJI 2030 is pleased to announce the launch of a Pilot on the Corporate Sustainability Due Diligence Directive – “Preparing for CSDDD: A Deep Dive on Key Topics”.
We welcome you to watch an Introductory Video from Mr. Didier Reynders, EU Commissioner of Justice, where he stresses the importance of commitment to responsible corporate governance and due diligence, and the opportunity for companies to step up before the Directive is in place. Collaborative action can create a bridge between policy and practice on the ground.
What will the Pilot look at?
- Interlinkages between CSDDD and CSRD
- Requirements for in scope companies for human rights due diligence
- Requirements for in scope companies for environmental due diligence
- Conducting holistic due diligence
- Conducting double materiality assessment to support due diligence
- Identify and assess implications for upstream & downstream value chain
- Reflect on challenges, barriers and opportunities for companies and their value chain
- Testing and building on the WJI 2030 Human Rights Navigator
- How we can develop tools and resources for the watch & Jewellery supply chain including a supplier engagement process
What are the key objectives?
- Support companies in their implementation of effective Human Rights (and environmental) Due Diligence
- Lead the industry forward through proactive preparation for upcoming legislation
- Build on the Human Rights Navigator and focus on practical implementation through examples and best practice
- Address key challenges members are likely to face in operationalizing due diligence principles
What is the main outcome? We will be developing an open-source case study on implementation of the upcoming regulation, in the watch & Jewellery industry, and bring every participant along the journey of learning, on the operationalisation of the new legislation.
Watch the full Video Here.
On the 10th of April, WJI 2030 held a C-Driven panel at Watches and Wonders and announced the launch of its second annual Stakeholder Report – Report on Progress 2023 – 2024.
Under the moderation of Iris Van der Veken, Executive Director & Secretary General of WJI 2030, an esteemed C-Suite panel of executives took the stage on the topic “Up to 2030: Why Collective Action Matters.” The panel included Cyrille Vigneron, President & CEO of Cartier; Dr Anino Emuwa , Founder of 100 Women @ Davos; Frederic Grangie, CEO of CHANEL Watches & Jewellery; and Dr. Daniel Klier, Advisor to the ESG Committee at WJI 2030.
Over the past year, we’ve continued to strengthen our engagement with key stakeholders while embarking on a journey dedicated to action, collaboration, impact, and transparency. The Stakeholder Report showcases collective progress of the Initiative and our Members in accelerating the pathway on the three strategic pillars – climate resilience, preserving resources and fostering inclusiveness.
Key takeaways from this morning’s panel are that:
- We need to work together to protect the environment and advocate for social justice. This is an obligation. Collective action is mandatory, there is no other way.
- We are in an industry that makes beautiful creations that are meant to last forever. This cannot be about only the big players but making sure the big brands can come together and support the smaller company players. We need to measure and KPIs are critical.
• There is currently a competition for talent. The worlds diverse talent needs to be tapped into. Youth demo is becoming more important in this industry. It’s not only the right thing to do, the numbers show it. Diverse leadership brings better decision making and innovation. Culture matters. - We need accountability. Transparency matters, and it’s a journey. Reporting is not about storytelling. It is about collecting relevant data to show progress over time in an honest way. It’s about being fit for purpose in an ever-evolving regulatory landscape. Reporting accomplishes the following: it levels the playing field, creates consistency, and increases pace.
- We see great progress with large companies leading the way as they have the capacity to do so. But to reach our collective goals by 2030 we need to bring suppliers onboard. It is about educating and building capacity across the value chain.
As we acknowledge the milestones, we’ve collectively made this year, we remain humble and are committed to support our members on the implementation of the minimum commitments. All the tools and materials we are building will ultimately become open source for the wider industry.