Good for the Planet
We’re taking action to lead the industry in innovation to help revitalize our natural world.
Our Good for the Planet strategic driver is informed by the United Nations Sustainable Development Goals (SDGs).
Design for the Future
We aspire to be part of leading industry-wide change by working towards a circular business model for watches and packaging materials. Our goal is to source and utilize materials that are less resource-intensive as an integral part of our product design process. By doing this, we are creating products with reduced environmental impact.
| Designing For The Future Goals and Progress | ||
|---|---|---|
| BY 2030 | 2023 Progress | |
| Achieve 90% traceability of our raw materials to ensure transparency and responsibility within design and supply chains. | → |
We are implementing traceability for our leather goods categories and have achieved traceability to the tanneries. Over the next two years, we will extend this traceability further through our supply chain for leathers and also into other categories. |
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Use 90% circular packaging (e.g., recyclable and/or reusable) materials. |
→ | 20% of our packaging is recyclable and/or reusable as they are made from cardboard and other paper based material. This is strengthened by continual adoption of FSC Certified materials. In conjunction with our material selection we strive to continually design packaging that results in less material requirements. |
| BY 2040 | ||
| Design our owned brand products with recycling in mind. Our teams will continue designing to eliminate waste, using materials that are regenerative, recycled, or sourced sustainably, to create products that are more durable, easily repaired, or recyclable. | → | We are currently revising our future sustainability objectives under the 'Good for Planet Goals' subject to the ongoing Net Zero target setting and validation exercise with SBTi. |
Leaving a Light Footprint
Nations around the world are increasingly working to address climate change through international agreements, from the Kyoto Protocol to the Paris Agreement, and they have been vital in emphasizing the enormity of the issue as well as the importance of collaborations. We delivered millions of fashion products around the world. The watches along with jewelry, leather goods, and accessories, used a wide range of natural resources — resources that we must use responsibly. We remain committed to enhancing biodiversity, conserving water resources and providing greater transparency in product stewardship efforts.
We are also focused on driving significant water and waste reductions, providing transparency around chemicals, and committing to the science-based targets.
| Leaving A Lighter Footpring Goals and Progress | ||
|---|---|---|
| BY 2025 | 2023 Progress | |
| Reduce 30% of Scope 1 & 2 absolute emissions (2021 baseline). | → | Absolute emissions of the Scope 1 & 2 dropped 2.1% from the 2021 baseline.* |
| Double the adoption % of clean energy of the facilities operated by the Fossil and Tier 1 suppliers (2021 baseline) | → | Clean energy usage increased to 42.3% of the total consumption in 2021. We are on track to meet our 2025 goal.* |
| BY 2030 | ||
| Reduce 85% of the Scope 1 & 2 absolute emissions (2021 baseline) | → | Absolute emissions of the Scope 1 & 2 dropped 0.1% from the 2021 baseline.* |
| Reduce 30% of the product-related carbon intensity (2021 baseline) | → | 47.2% of product-related carbon emissions were reduced from the 2021 baseline.* |
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By 2040 |
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| Achieve Net-Zero GHG emissions by 2040 | → | In 2023, we continue to move towards committing to science-based targets, which aligns to the 1.5° Celsius scenario with the Paris Agreement. SBTi will be validating the Net-Zero GHG emission and Fossil’s Short and Long-term emission reduction targets in June 2024.* |
| Reduce 50% of water intensity of key products (2021 baseline) | → | On track with the near-term milestones. |
*Please refer to the 2023 Fossil Group Carbon Accounting Brief for additional information.
Partners in Purpose
We Fossil Group are committed to supporting responsible leather
manufacturing across the globe and that is why we are proud members of
Leather Working Group/LWG.
www.leatherworkinggroup.com
Learn more about our Good for the Planet commitments, goals, and progress: