Sustainability Report 2024
C H A N G E

F O R

T H E

B E T T E R

W E L C O M E

What matters is that we’re alighthouse for sustainability
in an uncertain world

R O L FS T U D E R

CEO STATEMENT

H

ere’s a story that made mesmile. In Taiwan, a recent Oris
Change for the Better Day
attracted over 200 participants.
Instead of drinking champagne in a five-star
hotel bar, they had gathered to clean up
polluted waterways, collecting trash thatwas otherwise destined for the ocean. All
under the banner of a luxury Swiss watch
brand! This inspiring moment is symbolicof our independent company and our
passionate global community. We’re driven
by our mission: Change for the Better.
And it’s happening. The headline of thissustainability report is that we’re ahead of
the Oris Emissions Reduction Programme
targets we set two years ago. Having been
independently certified as climate neutral in
2021, we pledged to reduce emissions by
10 per cent a year for three years, for a totalof 27.1 per cent by the end of 2024. As
ClimatePartner’s findings show, in 2023,
our total emissions fell 16.5 per centcompared to 2022, for a running total of 23
per cent compared to the base year of 2019.
This matters, but our footprint is small: we
produce 15 tonnes of material a year, about
the same as eight new cars. What matters isthat we’re a lighthouse for sustainability inan uncertain world, and that we continue
to unite people around change. It’s only
together we can bring Change for the Better.

T H ES T O R Y

S O

ORIS.CHF A R

03A MISSION BORNIN HÖLSTEIN
The beautiful natural surroundings of our factory in
the Swiss village of Hölstein inspired a vision that’s
resulted in Change for the Better all over the worldS

ustainability is a word easily
used but an attitude that is hardto instil, whether in a country
or a company, or even in ourselves. At
Oris, we’ve been on a mission to adopt asustainable attitude and become a company
that behaves responsibly for years. Where
and when did it all start? And why?
The story begins in 1904 when thecompany was founded by two sociallyconscious watchmakers, who brought
employment, housing and a way of life to
the Swiss village of Hölstein in the beautiful
Waldenburg Valley. As the company
expanded across the region, a culture tookhold. Oris became known for looking after
people and doing the right thing.
Into the 21st century and with Oris firmly
established as an international company
with outlets, subsidiaries and, of course,
customers across the globe, that senseof local responsibility has expanded toencompass the world and its environment,
too. We believe the climate crisis is real,man-made and urgent, and that we have acollective duty to respond to it positively.
Initially, our approach was to build
partnerships with pioneering agents ofchange, focusing on water and the oceans,
where so many of our watches are worn
and used. We began a season of producing
limited-edition watches, created to raiseawareness of non-profits focused onconservation and clean water, and tosupport them with funds from watch sales.
But as the climate crisis became moreacute, so too did our ambition to bring
Change for the Better, the phrase evolvingfrom an internal mantra into a campaign
slogan we would come to use across ourcommunications as an expression of our
mission. Oris has become known aroundthe world for its commitment to bringing
change, and we’re extremely proud of theORIS.CH

UNITED WE STAND
In 2015, the United Nations adopted 17 Sustainable
Development Goals, created to give purpose-driven
brands a framework for their ESG (environmental,social and governance) activities. They include
eradicating poverty, taking action on climate andreducing inequality. Oris’s change mission is basedon these goals. You’ll see the icons below overthe following pages where they apply to activities
we support through the independent company
ClimatePartner. Our objective is to meet them all.

community that backs it with time, energy
and courage. It’s been a joy to witness theOris community grow and act, and tocollaborate with so many inspiring people.
In 2019, it became clear to us that weneeded to take a major step forward in thismission, and to formalise what had becomea catalogue of wonderful but often disparate
initiatives. A new goal was set: to become
climate neutral and to begin a new seasonof radical measures that would significantly
reduce our total global carbon emissions.
Then came the pandemic, and with it
lockdowns, factory closures, and a new andvery immediate set of priorities. Usingsocial media, we captured stories of people
whose heroic acts made the pandemic
more bearable. Doctors and nurses,
musicians and entertainers, ordinary people
doing extraordinary things – and awarded
watches to many of them. It provided us
with purpose, but more importantly, it
made people smile when the world was on
its knees. Today, that same idea lives on as
Oris Local Heroes (see page 16).
As the pandemic receded, we resumed
the project to reduce emissions as far as
possible. We appointed the independentclimate experts ClimatePartner and worked
with them to calculate our total global
carbon footprint in 2019, the last “normal”
year of Oris activities. Initially, the results of
those calculations meant we were able to

A new goal was set:
to become climate
neutral. It was theright thing to do05

begin a new sustainability programme,
financially supporting climate projects
around the world and taking responsibility
for emissions we can’t yet avoid or reduce.
In 2021, we were awarded climate neutral
status, making us one of only a handful of
Swiss watch companies to carry the mark.
As before, this only motivated us to do
more. In the first Oris Sustainability Reportof 2022, we announced the Oris Emissions
Reduction Programme and a pledge toreduce our total global emissions by 10 per
cent a year for three years, or 27.1 per centby 2024. It was a bold forecast, not least as,
in the aftermath of the pandemic, there wasfresh need to travel and to meet with ourloyal teams around the world who had kept
the business going in unprecedented times.
We also adopted the UN’s 17 Sustainable
Development Goals (see left).
We made lots of changes, refurbishing
our historic factory and installing modern
systems. We switched to energy andmanufacturing suppliers that shared ourgoals and values. And we aligned withhigh-profile partners whose missions
matched ours: the New York Yankees,
France’s Ligue de Football Professionnel(see page 14) and Marylebone Cricket Club.
In year one, as our emissions from flights
climbed, we missed our 10 per cent target– but not by much, hitting a 7.8 per centreduction. With further changes due, wewere confident better was to come. And it
has come. In 2023, we reduced our carbon
emissions by 16.5 per cent compared to2022, putting us at 23 per cent overall
compared to 2019, and well ahead of ourtarget. This is a proud achievement, butthere’s still much, much more to be done.
As before, the only way to do it istogether. Sustainability is now an Oris
attitude. We hope it will be yours, too.

Home and away
Page left: the Oris factory sits inthe natural surroundings of theWaldenburg Valley. Page left, far
left: Lord’s Cricket Ground, homeof Oris Sustainability Partner MCC

T H E

ORIS.CHR E S U L T S

FALLINGAHEAD OFSCHEDULE

THE SCOPE OF CHANGE

SIGNIFICANT GAINSOur overall carbon footprint in 2023 was 1,894.6 tonnes
CO2e. These are the Scope 1, 2 and 3 breakdowns.

Compared to 2019, our overall carbon footprint
was down 23 per cent in 2023 – and here’s how

07

TOTAL EMISSIONS*

1,894.6 t CO2e
SCOPE 1

In 2023, the Oris Emissions Reduction
Programme yielded a 16.5 per centreduction in our global carbon footprint,
putting us ahead of a three-year target

9.2%

173.5 t CO2e
SCOPE 28.9%

168.3 t CO2e
SCOPE 382.0%

1,552.8 t CO2e

IN BRIEF

1,894.61 t CO2

CORPORATE CARBON FOOTPRINT

Oris’s total global carbon emissions in 2023, calculated
by independent climate experts ClimatePartner.

16.50%

ANNUAL REDUCTION

Compared to 2022, in 2023 we reduced our total
global carbon emissions by 16.5 per cent.

23.00%ORIS EMISSIONS REDUCTION PROGRESSIn two years, we have reduced emissions 23 per centagainst a three-year 27.1 per cent target.

CAN A
COMPANYGROW ANDSHRINK?

Scope 1 emissions coverdirect emissions from ourfacilities and vehicles
Scope 2 emissions coveremissions from purchased
electricity and heating
Scope 3 emissions coverbusiness travel, transportand distribution, employee
commuting, purchased
goods and services,
fuel- and energy-related
upstream emissions,waste and product disposal

One of the hardest
questions in sustainability
is how an international
company can grow andreduce its emissions at thesame time. Since 2019, we
have grown the business,
employing more people
and expanding ourboutique network. And
yet our emissions aredown 23 per cent. It’s noteasy, but we’re doing it.

2019
543.6

2019
689.7

2023
482.4

FLIGHTSLOGISTICS-31.1%-30.1%

One of our largest sources ofIt’s common amongemissions in 2019 was flights.

companies that manufacture

Since the pandemic, we haveand distribute goods thattaken active measures to

Scope 3 emissions are much

reduce the number of flights

higher than Scopes 1 and 2.

we take, even as we look to

One major source of thoseservice our expanding global

emissions is transportation

business in a world now

and distribution of goods.

open for travel. We travel less

By working closely with ouroften and stay for longer,

partners, we’ve been able

which is more efficient andto significantly reduce ourresults in lower emissions.

Scope 3 emissions.

2019
422.9

*figures calculated by ClimatePartner using
emission factors taken from scientificallyrecognised databases such as ecoinvent
and DEFRA. Figures have been rounded
for illustration purposes

2023
374.8

2023
238.1

2019
101.7

2023
52.67

EMPLOYEE COMMUTING

PACKAGING-43.7%-48.2%

We’ve chosen not to

Early on in the Orisre-mandate five-day office

Emissions Reduction

attendance culture, instead

Programme, we identified

maintaining a three-two

packaging as an area where

structure so that non-we could bring substantial

production staff only

improvements. The newcommute to Hölstein three

flatpack Oris Sustainable

days a week. We’ve also

Watch Box (see page 8) was

encouraged a top-downin development for almost

culture of running electric

two years, but it’s now here.

cars, reducing our collective

Already, it’s impact on ourcommuting emissions.

emissions is considerable.

B R I N G I N G

ORIS.CHC H A N G E

DOING
THINGS
BETTERBET TERSUSTAINABLE
PACK AGING

BET TEREMPLOYEECOMMUTING

Ambitious initiatives havehelped us reduce our total
global carbon emissions, suchas a switch to electric cars
and sustainable packaging

Most luxury watch boxes are big,heavy and made of materials that only
add to their environmental tariff. Afterdetailed research, we’ve been proud tointroduce and roll out the new Oris
Sustainable Watch Box (pictured, left).
It’s made entirely of cardboard andpaper, more than half of it recycled,As is conventional, our carbon
footprint is calculated byassessing our Scope 1, 2 and 3
emissions. Scope 1 accounts for
direct emissions (from Hölstein, essentially);
Scope 2, emissions from purchased heatingand electricity; and Scope 3 from upstream
and downstream emissions, covering
anything from flights to office supplies.
The results show that our factory now
runs very efficiently. Only 18 per cent of
our total emissions are accounted for by
Scopes 1 and 2. The challenge in 2023 wasto reduce Scope 3 emissions, which accountfor 82 per cent of the total. But how? One of
the big areas we had long identified was
packaging, which we’ve now overhauled(see page right). We also felt we could
improve our employee commuting patterns
by encouraging a switch to electric vehicles
and public transport (see page right).
These changes made a significant
difference to our overall emissions, but they
mustn’t overshadow the efforts of ourteams around the world. Our remarkable
2023 reduction of 16.5 per cent wasachieved only as it could be: together.

with the remainder from FSC-certified

In 2019, ClimatePartner calculated oursources. This immediately brought

employee commuting emissions at

our consumption of plastic-related

422.9 t CO 2 , 17.2 per cent of our totalmaterials down by 1.5 tonnes a year,

emissions. In 2022, we reduced thisequivalent to a 65 per cent weightby more than 10 per cent, and then in

reduction. The new box is also modular

2023 we reduced it again so that theand can be packed flat, resulting in a 54

total for the year stood at 251.50 t CO 2 .

per cent reduction in volume. ThroughWhile a lot of this is down to switching

this clever, sustainable design, we’ve

to electric vehicles, we also have to

reduced our carbon emissions related

credit the newly refurbished andto packaging by almost 50 per cent.

reopened Waldenburgerbahn, theelectric tram that runs 13km throughthe valley that surrounds our Hölstein
factory, offering Oris employees a fast,
efficient and low-carbon means ofgetting to and from work every day.
The switch to low-carbon commuting
continues, and we’re confident offurther reductions by the end of 2024.

A package of initiatives
The radical new Oris
Sustainable Watch Box had
a huge impact on our total
carbon emission reductions

09

ORIS.CH11

THE FACTS

6.5 billion

plastic bottles collectedby Plastic Bank members,
equivalent to 130,000
tonnes of plastic

Between them, theseprojects meet five of
the UN’s Sustainable
Development Goals

LET’S GO THE
EXTRA MILE
Through ClimatePartner, we’ve continued our climate
programme, working with people and planet projects
that support causes close to our heartFor the foreseeable future, allforms of manufacturing will
create carbon emissions. Net
zero, the ultimate goal of theParis Agreement, recognises this: instead,where emissions cannot be avoided, we’re
encouraged to find ways to offset them.
At Oris, our carbon emissions profile isrelatively low. We only produce 15 tonnesof material a year, equivalent to the weightof around eight new cars. ClimatePartner
calculated that our total carbon emissions
are equivalent to those of 218 Europeans.
We’re proud of how efficient ourinternational operation has become.
Even so, we are determined to accountfor our impact, which is why we continue
to work with ClimatePartner to takeresponsibility for our emissions and reducethem as much as possible.
In 2023, we maintained our support for
Plastic Bank and began contributing to asolar energy project in Omaheke, Namibia.
Plastic Bank is a for-profit social fin-techthat’s working to solve poverty and pollution

by turning plastic waste into money.
Members (rather than employees) gather
plastic and then exchange it for income,zero-interest loans, education and social
benefits, such as health and life insurance.
This plastic then becomes raw material forrecycling, fuelling the circular economy.
The process is verified by a blockchainsecured platform, delivering ethical financial
support for communities while protecting
the environment at the same time. To date,
Plastic Bank has supported more than
50,000 members in 539 communities
around the world, and gathered theequivalent of 6.5 billion plastic bottles –over 130,000 tonnes by weight. For every
tonne of CO 2 saved through offsetting,
10kg of plastic is collected in vulnerable
coastal regions before it enters the ocean.
In Namibia, the solar project backed by
ClimatePartner is having a positive impact
on both the climate and the local labour
market. The country imports more than 60
per cent of its energy from South Africa,
which is heavily dependent on fossil-fuelpower plants. The solar project in Omaheke
uses naturally plentiful sun as a climatefriendly energy source instead.
The solar plant was built in 2017 andincludes 18,560 PV solar modules with a
total capacity of 12.064 MW, feeding
approximately 26.6 GWh of clean electricity
into the Namibian power grid each year andsaving around 26,200 tonnes of CO 2
emissions. The benefits go deeper. The
construction project created 30 local jobs,
eight of which evolved into permanent plant
operation and maintenance roles.
Between them, these projects meet fiveof the UN’s 17 Sustainable Development
Goals (see page 5), including “no poverty”,“affordable and clean energy” and “decent
work and economic growth”.
“While we maintain ambitious reductions
targets, we recognise the value in financing
climate projects,” says Rolf Studer, Oris
Co-CEO. “We’re grateful to ClimatePartner
for their role as conduit between Oris andthese inspiring projects, which promotecauses we’re passionate about.”

10

kilogrammes of plastic
collected by Plastic Bank
members for every tonneof carbon dioxide offset

26,200tonnes of carbon
emissions saved every
year by the solar project
Oris supports in Namibia

8

full-time jobs created by
the construction of the
Namibian solar plant

Doing it together
Oris is proud to stand with
Sustainability Partner Yusra
Mardini and the foundationthat carries her name

AGENTS
OF (REAL)CHANGE
We’re building a network ofOris Sustainability Partners,
people and organisations united
by a common goal: to bring
Change for the BetterW

hen Yusra Mardini (pictured)
took the starter’s mark at the2016 Rio Olympics, she brought
our attention to the plight of
the world’s refugees. The Syrian teenager,
as she was then, had endured a terrifying
ordeal to escape civil war and reach safety,
leaving behind a loving family and herambitions to swim for her country.
But through spirit and determination, sheachieved her dreams, qualifying for the
Olympics and the first Refugee Olympic
Team. She would repeat the feat again at
Tokyo 2020, and later her story would beturned into the Netflix film The Swimmers.
“Being a refugee does not mean you had
nothing at home,” says Yusra. “It means
you left your country because of war andviolence. Life for a refugee in a new country
is hard and it has so many challenges. You
have to start from zero again.”

Yusra went on to become the youngest
ever UNHCR Goodwill Ambassador, andthen in 2023 she set up the Yusra Mardini
Foundation. Today, we’re proud to call
Yusra an Oris ambassador, and to beworking with her foundation as an
Oris Sustainability Partner. Together, weare raising awareness of the profoundchallenges facing the world’s 117.3 million
displaced people (according to the
UNHCR’s 2023 figures), offering direct
support to Welcome 66 – a Frenchorganisation using swimming to empower
forcibly displaced people as they begin the
difficult process of integrating into a newsociety and culture.
Our partnership with Yusra is one of a
growing number of ways in which we’rebuilding our Change for the Better
programme beyond reducing our carbon
footprint. When we aligned with the UN’s

O U RM I S S I O N

ORIS.CHC O N T I N U E S

17 Sustainable Development Goals (seepage 5), we committed to bringing positivechange to people and planet, and todeveloping projects that would contributeto ending poverty, bring equality and ensure
everyone can exercise their right to live inpeace and prosperity. Oris has a strong
presence in more than 80 countries aroundthe world, and we consider it a duty and aprivilege to play our part and use that
platform to help achieve the UN’s goals.
We’ve continued to work with agents ofchange, often introducing limited-edition
watches with people and organisations thatare working to conserve our planet and lookafter its people. In 2023, we partnered with
Bracenet, which turns discarded fishingnets into beautiful accessories, and withbaseball Hall-of-Famer Hank Aaron’s
Chasing the Dream Foundation, which
supports disadvantaged young people
through educational scholarships. We also
expanded our collaboration with Cervo
Volante, increasing production of sustainable
deer leather straps (see page right).
In addition, we partner with high-profile
sporting institutions that use their platforms
to bring change, working with the New YorkYankees and Marylebone Cricket Club
(MCC) – the Home of Cricket in London.

We committed toprojects that would
contribute to ensuring
peace and prosperity

We’ve become a member of the UN’s
Football for the Goals initiative. And we’re
now backing France’s Ligue de Football
Professionnel (LFP), supporting its “Les
Défenseurs de l’Enfance”, a charity football
tournament organised in aid of CNAPE,
France’s National Convention of Child
Protection Associations (pictured below).
Through it, disadvantaged children get toplay alongside their heroes. “Like Oris,
we want to change things for the better,build a happier society and improve
the lives of future generations,” explains
French journalist and CNAPE ambassador
Mohamed Bouhafsi.
With each partner, we deliver meaningful
events and products that amplify their ESG
strategies. It’s a real win-win situation.
We consider it an enormous joy and agreat honour to count these agents ofchange as friends and partners, and we’re
grateful that the sentiment is reflected backto us, too. “I wanted to work with a brandthat shared the same values as me and theYusra Mardini Foundation,” says Yusra.
“Oris is the right partner for me.”
These are beautiful stories, but they only
exist because of the world’s problems. And
so, with our partners, we remain committed
to bringing Change for the Better.

15

BET TERCERVO VOL ANTE

The perfect match
Page right, top: our LFP Limited Edition
watch. Below and page right, bottom:
supporting Ligue de Football Professionnel’s“Les Défenseurs de l’Enfance”

In Switzerland, around 15,000 deer are
culled every year as part of a national
wildlife management programme that
controls the country’s deer populationand protects the Swiss countryside.
The scheme is necessary, entirely legal
and heavily regulated. In 2017, twoentrepreneurs spotted that the deerhides produced as a by-product of the
programme were going to waste. Most
were simply burned. They founded
Cervo Volante to produce deer leather
accessories, working with the country’s
two remaining tanneries to create highlysustainable luxury bags, shoes and otheraccessories. In 2021, we began delivering
Cervo Volante sustainable deer leather
watch straps, an offer we’ve continued
to expand ever since. Some of the straps
carry natural imperfections, which are
not just a symbol of the sustainable
process behind them but also make themobjects of great beauty.

S Ó N I A S O U S A EL L
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A L F O N S O ES C A L ERO
S p ainWE ALL NEEDA LOCAL HEROThe Oris community isshaped by people whoshare our mission to bring
Change for the Better. It’sa joy to acknowledge themW

hen we formalised our mission
to bring Change for the Better,
we had little idea what impact
it would have. But we wereconfident any impact would be dependent
on the Oris community. Could we rely on it?
Change only comes when we work together.
The answer was a resounding yes! Acrossthe globe, responsible world citizens whoshare our vision have been acting it out intheir own lives, homes and neighbourhoods.
We recently introduced the Oris Local
Heroes campaign to celebrate and reward
people making a difference. We invited ourcommunity to nominate friends andacquaintances who epitomised thesevalues, and we were stunned by the volumeof responses and by the lengths people go
to as they seek to bring positive change.
The Spanish filmmaker who broadcast
free drone footage of the La Palma volcano
eruption for three months; the Mexican
pilot whose citizen-led aerial reforestation
initiative has reseeded thousands of acresof land; the Italian carer who founded a nonprofit to support families affected by a rare
genetic disorder. All local heroes. And allawarded an Oris watch in recognition of
their efforts to bring Change for the Better.
Why? Because it’s the right thing to do.

Oris Sustainability Report 2024
Oris SA Ribigasse 1 4434 Hölstein Switzerland
All details are subject to change