Rolex

RATING

SECTOR

Luxury

WEBSITE

CONTACT

3-5-7 rue François-Dussaud
1211 Geneva 26
Switzerland

STOCK EXCHANGE

LISTING

N/A

EMPLOYEES

4000+

CHIEF SUSTAINABILITY OFFICER

N/A

AWARDS

N/A

CONTENT SOURCE

FURTHER READING

Report created by Kavita Kripalani 

Rolex

SECTIONS :  Sustainability    Evaluation  •  Progress  •  Watch  •  Overview

Company Activity

Rolex is one of leading names in luxury wristwatches. It is headquartered in Geneva, Switzerland, but relies on 4,000 watchmakers in more than 100 countries.  It is listed as #80 on Forbes Most Valuable Brands 2020.

Rolex, a Swiss watch manufacturer headquartered in Geneva, is recognized the world over for its expertise and the quality of its products.

Its Oyster Perpetual and Cellini watches, all certified as Superlative Chronometers for their precision, performance and reliability, are symbols of excellence, elegance and prestige. The word “Perpetual” is inscribed on every Rolex Oyster. But more than just a word on a dial, it is a philosophy that embodies the company’s vision and values. Hans Wilsdorf, the founder of the company, instilled a notion of perpetual excellence that would drive the company forward.

This led Rolex to pioneer the development of the wristwatch and numerous major watchmaking innovations, such as the Oyster, the first waterproof wristwatch, launched in 1926, and the Perpetual rotor self-winding mechanism, invented in 1931.

Rolex has registered over 500 patents in the course of its history. A truly integrated and independent manufacturing company, Rolex designs, develops and produces in-house the essential components of its watches, from the casting of the gold alloys to the machining, crafting, assembly and finishing of the movement, case, dial and bracelet.

Furthermore, Rolex is actively involved in supporting the arts and culture, sport and exploration, as well as those who are devising solutions to preserve the planet.

Company Sustainability Activity

For nearly a century, Rolex has supported pioneering explorers, pushing back the boundaries of human endeavor. With the Perpetual Planet initiative, launched in 2019, Rolex is committed for the long term to support the explorers in their quest to protect the environment.

To start with, this commitment focuses on the Rolex Awards for Enterprise, which recognize individuals with projects advancing knowledge and protecting human well-being and the environment,  and partnerships with the National Geographic Society and Sylvia Earle’s Mission Blue initiative. But this is just the beginning.

Highlights

  • Member of Our World-Underwater Scholarship Society, a global community of marine professionals whose research is dedicated to the oceans.
  • They created Rolex Awards for Enterprise in 1976, the brand has assisted 150 individuals who have a new or ongoing project anywhere in the world – one deserving support for its capacity to take on some of humankind’s most pressing challenges.
  • Rolex has contributed to the preservation of 21 ecosystems that are crucial for biodiversity and for the human communities that depend on them under the Rolex Awards for Enterprise program.
  • In 2017, Rolex enhanced its long-standing partnership with the National Geographic Society to promote exploration and conservation.

Targets

Targets were not published.

Progress

No progress reported.

Certificates

  • N/A

UN Sustainable Development Goals

UN SDGs Compliance

The following section aligns current company-wide sustainability initiatives with the UN Sustainable Development Goals. 

SDG 3

  •  Rolex Awards for Enterprise supports a French medical scientist based in Switzerland is helping paralyzed patients to walk again.

SDG 4

  • The company has provided funding for scholarships to young people considering careers in the underwater world.

SDG 5

  • Rolex Awards for Enterprise supports a service that connects home-based female doctors to people in underserved communities with a low-cost service via an electronic health (e-health) network.

SDG 12

  • Rolex Awards for Enterprise supports unique chemical recycling technology developed by a company BioCellection. 

SDG 13

  • Rolex Awards for Enterprise supports a project “VOLCANOES AFFECTING EARTH’S CLIMATE”

SDG 14 

  • They supported a project “PROTECT A GIANT FISH FOR THE AMAZON” under Rolex Awards for  Enterprise Rewards. The project only does not aims to save the arapaima but, along with it, the livelihoods, food supply and culture of rural communities in Amazonia who depend on the region’s rivers for their survival.

SDG 15

  • Rolex Awards for Enterprise supports a project “Wild Save”, it currently serves half a million people living in 600 villages near Bandipur and Nagarahole parks in the state of Karnataka. It has filed 15,000 claims for 7,000 families, worth US$555,000. This pragmatic approach has increased trust and reduced hostility towards wildlife in these communities.

Secondary SDGs: 2, 8, 9, 10, 11, 17

Evaluation

Rolex, a Swiss watch manufacturer, seems to have made some efforts towards sustainability. This is seen in their initiative, “Perpetual Planet”. It has established critical partnerships with some organizations such as National Geographic.

Despite their efforts, Rolex hasn’t published a sustainability agenda, KPI’s, their progress, and goals.

In addition, Rolex doesn’t have any awards or certifications and they are not transparent in their sourcing. The company is rated as D.

Analyst Outlook: Negative

Rolex hasn’t published a sustainability agenda, KPI’s, their progress, and goals.

Key Points

  • Not a UN Compact Global Participant 
  • They make their own gold and has a real foundry in-house but there is no information on how their supply chains operate
  • They have a  chemistry lab for researching oils and lubricants that they use in machines during the manufacturing process but there is no information about what type of chemicals they use
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