eyond confirming its number of employees (exactly 15,548 in 2024), it is difficult to obtain precise figures from the global watch industry’s undisputed leader. Estimates place its performance at record levels in the sector’s history, with annual sales exceeding 10 billion francs and a market share of roughly one-third of all Swiss watchmaking.

Although the deliberate lack of public communication of such a prominent brand has shaped its mystique over the decades, Rolex appears to be relaxing this cardinal rule for certain specific topics. After countless unauthorised books dedicated to it, the brand published its first official book of a series last year, on the Submariner, penned by Nicholas Foulkes.

And if there is one area where transparency is essential, it is sustainability (find our dedicated segment here). The brand has made it a core focus of practice and communication: launching the www.rolex.org site, introducing the Perpetual Planet initiative, and now, for the first time, sharing its sustainability report externally.

Rolex’s key stakeholders (Rolex Sustainability Report)

Across 118 pages, Rolex outlines its efforts, and, even more remarkably, we had the rare opportunity to discuss this subject with the brand, which “is constantly gaining visibility and importance throughout the company”.

To compile this first public report, Rolex conducted a life cycle analysis of its products and their impact – the basis of any ESG assessment – allowing it to minimise this impact. “We measure the environmental footprint of materials, processes, and services involved in our watch production, related products, and manufacturing processes. We can then better understand the opportunities for improvement and guide our decisions accordingly,” explains Virginie de Meuron, Press and Public Relations Manager.

Inevitable circularity

When discussing the lifecycle of a product, the topic of circularity inevitably arises as a key approach to reducing impact. How does Rolex integrate this into its mission? The report offers early insights from these 2023 figures: “We use three types of precious metal sourcing: recovered industrial gold reclaimed from Rolex production waste (70% of total supply) [Rolex is currently the only watch company with such a recovery system as well as its own foundry]; mined gold from industrial and small-scale mines (18%); and residual gold from the watchmaking and electronics industries (12%).”

The public relations manager adds, “More broadly, recycling materials and production residues offer significant potential for lowering carbon emissions for Rolex, which has implemented a ‘material analysis’ programme to assess recycling opportunities. Ongoing efforts aim to replace petrochemical elements with other materials like bio-sourced polymers. The company is also working on developing recycling and manufacturing technologies, as well as setting up direct pathways between production waste and raw materials. Furthermore, we recover used packaging and send them in a closed loop to suppliers, who can shred them for reuse in the production of new packaging. Finally, through the Rolex Certified Pre-Owned programme, we offer our customers the opportunity to purchase pre-owned watches with certified authenticity.”

What about eco-design?

Reducing environmental impact also requires rethinking product design. How does Rolex address this? Again, the report provides solid examples: “Since 2020, Rolex has been developing a new presentation box with improved environmental credentials for the delivery of its watches to its end customers. Consisting of a main structure made of wood (45%) and various components made of cardboard and moulded cellulose (31%), this new presentation box reduces its share of petroleum-based plastic from 92% to just 6%. This represents a total reduction of 500 tonnes of plastic per year. The introduction of this new eco-friendly presentation box guarantees a 50% reduction in greenhouse gas emissions related to its life cycle.”

De Meuron also highlights, “Additionally, Rolex’s facilities in Switzerland and subsidiaries abroad are aiming to obtain environmental certifications. The Acacias site in Geneva received BREEAM In-Use certification in 2023. The future Rolex site in Bulle scheduled for 2029 is aiming to achieve BREEAM’s outstanding certification, making it the first Swiss industrial building of this scale to receive the distinction.”

The issue of offsets

The report also mentions carbon emission offsets, with De Meuron explaining the company’s stance, “Today, the priority for Rolex is to curb greenhouse gas emissions across its practices and throughout its value chain. To do this, the company has set itself carbon footprint reduction targets based on the Science Based Targets initiative (SBTi) by 2030. With the focus on constraining its greenhouse gas (GHG) emissions, Rolex does not invest in carbon offset projects. The company follows best practice of first minimising emissions before offsetting so-called residual emissions.”

The report further states: “As part of its commercial activities, Rolex uses private aviation. The brand’s international presence as well as the growth and management of its business activities require such travel. Rolex fully offsets the CO₂ emissions generated by this type of travel through the purchase of certified carbon credits.”

De Meuron notes, “At the same time, the brand supports numerous projects through its Perpetual Planet initiative. By supporting passionate individuals doing everything they can to better understand our planet, Rolex has notably contributed, through the Rolex Awards for Enterprise, to protecting 48 endangered species, planting 33 million trees, and preserving 32 major ecosystems, including 57,600 km² of Amazon rainforest.”

Rolex reports a significant reduction in its overall carbon footprint, from 3,231 ktCO₂eq in 2021 to 1,996 ktCO₂eq in 2023 (kilotonnes of CO₂ equivalent), with 99% of GHG emissions falling under Scope 3 of the Greenhouse Gas Protocol. Notably, 88% of these emissions come from precious materials, with mined gold alone accounting for 89.5% (in 2023). The company has set ambitious 2030 targets (relative to 2021 levels): a 42% reduction for Scopes 1 and 2, and a 25% reduction for Scope 3, in line with the Paris Agreement.

How has the brand with the crown achieved such significant reductions? The report provides an answer: “The reduction in our footprint between 2022 and 2023 is mainly due to decisions related to gold procurement (replacing part of the volume of mined gold purchased by residual gold, changing the panel of mines towards less emissive sources and reducing the total volume of gold purchased).”

And De Meuron adds, “For the coming years, the priority is to achieve our SBTi goals. This will be made possible through concrete actions, such as implementing energy efficiency solutions, responsible sourcing of raw materials, reducing the share of mined gold, transitioning electricity supply from fossil fuels to renewables, purchasing efficient machines, and optimising transport, mobility, and packaging.”

Team involvement

The carefully worded responses reveal the company’s strong commitment to making ESG issues a strategic priority. This is reinforced by Jean-Frédéric Dufour, General Director of Rolex SA, in a quote from the 2023 Sustainability Report: “Sustainability is a long-haul journey that has to be prepared for and advocated on a daily basis. It’s also a process and a challenge that concerns us all. This topic is a priority for Rolex because, at our level, we have the power to take very tangible action to support the environment and society.”

The report also mentions the use of ‘Climate Fresk’ workshops, a widely adopted corporate tool for raising awareness and training teams on sustainability issues. It helps identify aspirations both internally and among end customers. De Meuron elaborates, “The playful and interactive approach of their awareness workshops, which are based on scientific data from IPCC reports, enables diverse audiences to grasp climate change issues, one of Rolex’s key sustainability pillars. In 2024, all managers and senior executives of the company participated in the workshop, which was also open to all Rolex employees who wished to attend voluntarily. We are now rolling out a comprehensive training programme covering all aspects of sustainability, including social, environmental, and governance issues.”

This first public report sends a powerful message to the watch industry. Sustainability reporting is becoming very concrete, with impact reductions now measured in absolute terms rather than relative intensity, moving beyond wishful ‘green’ thinking. The time has come for real action and transparency. And Rolex has spoken.