In 2024, The Swatch Group completed a corporate carbon footprint assessment and publicly disclosed its greenhouse gas (GHG) emissions according to the GHG Protocol, covering Scope 1 (direct emissions from owned or controlled sources), Scope 2 (indirect emissions from purchased energy) and Scope 3 (indirect emissions across the value chain).
The Swatch Group has also provided a category-level breakdown for 14 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2024 | 2023 | 2022 | 2021-2019 |
|---|---|---|---|---|
Total Scope 1 | 17,002a | 17,931b | 18,153c | |
Total Scope 2 | ||||
Market-Based | 26,052a | 34,047b | 33,915c | |
Location-Based | 44,787a | 31,281b | 31,204c | |
Total Scope 3 | 1,218,000a | 1,333,000a | 145,000b | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 2.286a | 1.9125b | 2.2375c |
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In 2024, the total operational greenhouse gas (GHG) emissions of The Swatch Group amounted to 61,789 metric tons of CO2 equivalent. This figure includes both direct emissions from owned or controlled sources (Scope 1) and indirect emissions from purchased energy (Scope 2).a
Compared to 2023, the total operational greenhouse gas (GHG) emissions of The Swatch Group increased by 25.56%, suggesting that the company faced challenges in reducing its emissions from its core operations.ab
In 2024, the total Scope 1 emissions of The Swatch Group were 17,002 metric tons of CO₂ equivalent (tCO₂e).a
Since 2021, The Swatch Group's Scope 1 emissions have decreased by 16.75%, reflecting a declining long-term trend in Scope 1 emissions over time.a
Compared to the previous year (2023), The Swatch Group's Scope 1 emissions decreased by 5.18%, highlighting the company's efforts to lower direct emissions from assets it owns or controls.ab
In 2024, The Swatch Group reported Scope 2 greenhouse gas (GHG) emissions of 26,052 tCO₂e using the market-based method and 44,787 tCO₂e using the location-based method.a
Compared to the previous year (2023), The Swatch Group's Scope 2 emissions (Location-Based) rose by 43.18% in 2024, suggesting that the company faced challenges in reducing emissions from purchased electricity and energyab
In 2024, The Swatch Group reported its Scope 2 emissions using the market-based method and using the location-based method.a
In 2024, The Swatch Group reported 1,218,000 metric tons of CO₂ equivalent (tCO₂e) of Scope 3 greenhouse gas (GHG) emissions, representing indirect emissions across its upstream and downstream value chain.a
The 2024 disclosure of The Swatch Group includes a breakdown across 14 of the 15 Scope 3 categories defined by the GHG Protocol, matching the level of disclosure in 2023, demonstrating consistent Scope 3 emissions reporting coverage year over year.a
In 2024, The Swatch Group reported total Scope 3 emissions of 1,218,000 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 96.96% of these emissions originated from upstream activities such as purchased goods and capital goods, while 3.04% came from downstream activities like product use, distribution, and end-of-life treatment.a
Compared to the previous year (2023), The Swatch Group's Scope 3 emissions remained relatively stable, indicating that The Swatch Group's emissions have plateaued with no significant change in its value chain footprint.a
In 2024, The Swatch Group reported emissions for 14 out of the 15 Scope 3 categories defined by the GHG Protocol.a
This reflects a high level of granularity and transparency in the company's emissions reporting.
In 2024, the largest contributors to The Swatch Group's Scope 3 emissions were:a
In 2024, The Swatch Group reported Scope 1 greenhouse gas (GHG) emissions of 17,002 tCO₂e and total revenues of USD 7,437 millions. This translates into an emissions intensity of 2.29 tCO₂e per millions USD.a
In 2024, The Swatch Group reported a Scope 1 emissions intensity of 2.29 tCO₂e per millions USD. Compared to the peer group median of 0.81, this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors.a
In 2024, The Swatch Group ranked 23 out of 25 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
This places The Swatch Group among the least efficient performers, with one of the highest emissions intensities in its sector.a
In 2024, The Swatch Group reported a total carbon footprint of 1,279,789 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 7.41% decrease compared to 2023, indicating progress in reducing its overall greenhouse gas output.ab
The largest contributor to The Swatch Group's total carbon footprint was Scope 3 emissions, accounting for 95.17% of the company's total carbon footprint, followed by Scope 2 emissions at 3.5%.a