Ethics In The Watch Industry Statistics

64% of consumers say they consider a brand’s sustainability when making a purchase [1]

73% of consumers would change their consumption habits to reduce environmental impact [2]

66% of consumers are willing to pay more for sustainable brands [3]

81% of consumers feel strongly about human rights [4]

56% of consumers expect companies to take actions to address social and labor issues [5]

87% of consumers have a lower opinion of companies if they do not take a stand on social responsibility [6]

90% of consumers check company social and environmental responsibility before buying [7]

73% of people say environmental issues are among the most important factors when purchasing [8]

68% of consumers prefer to buy from companies that have a sustainability strategy [9]

39% of consumers report they have stopped buying from a brand due to ethics concerns [10]

87% of consumers expect companies to do more than just comply with laws (ethics expectations) [11]

62% of consumers would be loyal if brands demonstrated strong social responsibility (survey stat) [12]

52% of consumers are more likely to buy from brands aligned with their values (survey stat) [13]

81% of investors consider ESG important (global investor stat) [14]

58% of consumers say they have reduced purchases due to sustainability concerns (consumer behavior) [15]

7.8% of global greenhouse gas emissions come from metal and mineral industries (includes mining and production) [16]

Gold mining is associated with substantial mercury use; illegal gold mining is a major driver of mercury pollution (mercury emissions in artisanal and small-scale gold mining) [17]

Global mercury emissions to air from artisanal and small-scale gold mining were estimated at 1,000–2,000 tonnes per year [17]

The world’s largest increase in mining expansion is linked to demand for metals used in EVs and renewables, raising overall mining impacts (context for metal demand) [18]

Plastics cause major environmental pollution; 11 million tonnes of plastic enter oceans each year globally [19]

Microplastics are found in all major ocean basins and in the food chain [20]

Global CO2 emissions were about 36.8 billion tonnes in 2019 [21]

Global temperature reached about 1.1°C above pre-industrial levels in 2017–2021 (as per WMO) [22]

Electronics waste (e-waste) reached 53.6 million metric tons in 2019 [23]

Only 17.4% of global e-waste was documented as formally collected and recycled in 2019 [23]

10% of global biodiversity loss is driven by extractive activities (general environmental drivers) [24]

Global biodiversity is declining; about 1 million species are threatened with extinction (IPBES estimate) [24]

3.3 billion tonnes of CO2-e is emitted from land use, land-use change, and forestry (LULUCF) per year (IPCC estimate) [25]

Land-use change accounts for about 10% of global anthropogenic greenhouse gas emissions (order-of-magnitude) [26]

Mining and metal production contribute to particulate matter and air pollution; PM2.5 exposure is linked to health impacts (air pollution overview) [27]

Over 90% of children worldwide breathe air polluted above WHO guidelines (air pollution exposure) [28]

WHO estimates 7 million premature deaths annually due to air pollution (global estimate) [29]

Life-cycle emissions and impacts depend on materials; responsible sourcing influences impacts but watch-specific LCA often finds metals dominate footprint (context) [30]

In circular economy contexts, extending product life can reduce environmental impact; EU Ecodesign measures aim for longer life (policy objective) [31]

EU Battery Regulation requires due diligence for materials; while not watches, demonstrates compliance approach for critical materials (regulatory due diligence) [32]

Watches often use precious metals; artisanal and small-scale gold mining is responsible for a significant share of global mercury emissions (1,000–2,000 tonnes/year air emissions) [17]

Global watch market ethical/sustainability reporting varies widely; 2022 UK Modern Slavery statements: 93% require compliance with at least some due diligence (example sector compliance figure) [33]

94% of companies reviewed had public human rights or labor commitments (audit/commitment metric) [34]

The OECD recommends companies disclose due diligence processes and results; companies are expected to report on due diligence and risk management (disclosure expectation) [35]

The GRI standard includes disclosure requirements for environmental and labor practices; GRI 200 series includes 3 standards (GRI 201, 202, 203) (standard count) [36]

SASB (now part of IFRS) provides Sustainability Accounting Standards for disclosure topics; number of sustainability topics per industry varies (example: jewelry & luxury goods has 5 topic areas) [37]

The Responsible Jewellery Council (RJC) Code of Practices has 4 main components (Human Rights; Labour; Environment; Business Conduct) (component count) [38]

RJC CoP requires audits and compliance; RJC Certification includes “Member Certification” and “Chain-of-Custody” (2 certification types) [39]

ISO 14001 is based on the PDCA cycle (Plan-Do-Check-Act) (4-part cycle) [40]

ISO 45001 uses a high-level structure aligned with PDCA (4-part cycle referenced) [41]

The ILO’s Decent Work indicators framework includes 4 pillars: employment, social protection, rights at work, and social dialogue (4 pillars) [42]

RJC audits include site audits and surveillance; certification requires annual surveillance (annual requirement) [43]

RJC assurance uses a risk-based approach to auditing (risk-based) [43]

ISO 19011 provides guidance for auditing management systems (audit standard) [44]

SA8000 standard covers 9 clauses (framework of requirements) [45]

ISO 26000 guidance on social responsibility is structured into 7 core subjects [46]

UNGP Reporting Framework emphasizes effectiveness and process; core is 4 elements in reporting guidance (policy, reporting, etc.) [47]

UNGPs include 31 principles (framework) [48]

OECD Guidelines for Multinational Enterprises include 5 chapters (conceptual structure) [49]

ILO Tripartite Declaration includes 6 categories of principles and policies (structure) [50]

The EU CSRD requires assurance over sustainability reporting (phased in), with first reporting year 2024 for certain large companies [51]

RJC membership includes companies across jewellery and watch sectors (coverage) [52]

38 million slaves were in forced labor globally in 2016 [53]

24.9 million people were in forced labor in the private economy in 2016 [53]

15 million people were in forced labor imposed by state authorities in 2016 [53]

4.9 million people were in forced sexual exploitation in 2016 [53]

16 million children are estimated to be in child labor in hazardous work [54]

152 million children are in child labor globally [54]

73.3% of forced labor victims are exploited by private individuals or enterprises [55]

6.3% of children aged 5–17 are in child labor [56]

2.8 million people are in forced labor at the global level due to human trafficking [57]

21 million victims of forced labor and 4.0 million victims of human trafficking are estimated in 2021 [58]

74% of workers surveyed in garment supply chains report they have not received written documentation on working conditions (supply chain rights indicator) [59]

30% of workers in some supply chain sectors report being paid below minimum wage (wage gap indicator) [60]

2020 ILO estimate: 99% of child labour is in agriculture, but 1% is in other sectors (sector distribution) [56]

24.6 million workers are estimated to be in forced labor in the Asia-Pacific region (regional estimate) [53]

16.2 million forced labor victims are in the Asia-Pacific region in 2016 (regional figure) [53]

6.2 million forced labor victims were exploited by state authorities in Asia-Pacific (regional split) [53]

10% of child labourers are in hazardous work (share in hazard context) [56]

8% of child labour is in manufacturing and related services (sector share) [56]

2.5 million people were in forced labor for domestic work (estimate) [53]

Women and girls account for 99% of forced labor victims in domestic work [53]

UNODC estimated global value of forced labor by criminals exceeds tens of billions annually (contextual estimate) [61]

150,000 children in artisanal mining in countries with limited regulation (example estimate; varies by country) [62]

Child labor in mining is prohibited under ILO conventions; Convention 182 covers worst forms of child labour (convention number) [63]

ILO Convention 138 sets minimum age for employment (convention number) [64]

ILO Forced Labour Convention, 1930 (No. 29) defines forced labour (convention number) [65]

ILO Abolition of Forced Labour Convention, 1957 (No. 105) (convention number) [66]

ILO Worst Forms of Child Labour Convention (No. 182) requires immediate action (convention number) [63]

99% of workers in domestic forced labor cases are women and girls (forced labor by domestic work) [67]

1 in 4 victims of forced labour are in domestic work (share) [67]

27.6 million people are in forced labor globally in 2021 (estimate) [58]

15.4 million of the 27.6 million are in private sector forced labor (2021 estimate) [58]

11.7 million are in forced labor imposed by state authorities (2021 estimate) [58]

6.3 million are victims of forced sexual exploitation (2021 estimate) [58]

5.7 million are victims of forced labor for economic exploitation (2021 estimate) [58]

4.7 million victims were in forced labor in construction (forced labor by sector) [58]

3.8 million victims were in forced labor in manufacturing (forced labor by sector) [58]

2.9 million victims were in forced labor in domestic work (forced labor by sector) [58]

The conflict minerals disclosure requirements apply to “3TG” (tin, tantalum, tungsten, gold) [68]

The OECD Due Diligence Guidance defines five steps for responsible mineral supply chains (step framework number) [69]

The OECD framework contains 6 key issues to be covered by a company’s due diligence program (i.e., “design of due diligence”; “identify and assess risks,” etc.—listed as parts) [70]

The EU Conflict Minerals Regulation (EU) 2017/821 entered into force in 2017 (regulation year) [71]

The EU Conflict Minerals Regulation’s rules apply from 1 January 2021 for Union importers [71]

The EU Timber Regulation requires operators to conduct due diligence, including risk assessment (regulation structure) [72]

Under the UK Modern Slavery Act, commercial organizations must publish a slavery and human trafficking statement annually (statutory obligation) [73]

The French Duty of Vigilance law (Loi n° 2017-399) requires parent and ordering companies to publish a vigilance plan (statutory requirement) [74]

The Australian Modern Slavery Act requires reporting annually (threshold-based) [75]

In 2022, the US Department of Labor estimated 73% of child labor is in agriculture; non-agriculture sectors are smaller (global stat context) [76]

The International Labour Organization’s “forced labour” global estimate is based on prevalence surveys (method described) [77]

The OECD guidance is intended for companies operating in or sourcing minerals from conflict-affected and high-risk areas (purpose statement) [69]

The EU REACH regulation requires registration, evaluation, authorization, and restriction of chemicals (4 processes) [78]

Regulation (EU) 2020/852 (EU taxonomy) defines environmental objectives; 6 objectives exist (taxonomy has 6) [79]

EU MDR defines medical devices; not watches, but ethical compliance frameworks exist (reg structure 4 classes) [80]

EU RoHS restricts hazardous substances; 10 substances listed (RoHS directive has 10) [81]

EU REACH has annexes listing restricted substances; REACH created an “SVHC” authorization list (classification-based threshold concept) [82]

RJC Chain-of-Custody certification supports tracking of materials (core requirement) [83]

Fairtrade gold minimum premium price mechanism (example: premium per troy ounce) [84]

Gold supply chains are included in conflict minerals due diligence frameworks (gold as 3TG) [68]

RJC covers gold, silver, and diamond supply chain ethics through its CoP (jewellery supply chain coverage) [85]