Panerai

Panerai is owned by Richemont.

Our “Planet” rating evaluates brands based on the environmental policies in their supply chains, from carbon emissions and wastewater to business models and product circularity. Here we rate Panerai “Not Good Enough”. These are a few factors influencing its score:

• It uses few lower-impact materials.
• It’s set a science based target to reduce greenhouse gas emissions in both its direct operations and supply chain but there’s no evidence it is on track.
• There’s no evidence it’s taking actions to protect biodiversity in its supply chain.
• There’s no evidence it takes action to minimise its packaging, which is a driver of plastic waste.

Workers’ rights are central to our “People” rating, which assess brands’ policies and practices on everything from child labour to living wages and gender equality. Here we rate Panerai “It’s a Start”. These are a few factors influencing its score:

• Its final production stage happens in Switzerland, a low risk country for labour abuse.
• There’s no evidence it provides financial security to its suppliers, which can result in poor working conditions and wages.
• It has a basic policy to support diversity and inclusion in its direct operations.
• Its Code of Conduct covers ILO Four Fundamental Freedoms principles.
• It’s not clear if it ensures workers are paid living wages in its supply chain.
• During the height of the COVID-19 pandemic, it did not disclose adequate policies or safeguards to protect workers in its supply chain from the virus.

Brands’ animal welfare policies and, where applicable, how well they trace their animal-derived products are the focus of our “Animals” rating. Here we rate Panerai “Not Good Enough”. These are a few factors influencing its score:

• It’s published a general statement about minimising animal suffering but not a formal animal welfare policy.
• It appears to use leather and exotic animal skin.
• It doesn’t appear to use wool, exotic animal hair, down, fur, or angora.
• It traces some animal-derived materials to the first production stage.

Based on all publicly available information we’ve reviewed, we rate Panerai “Not Good Enough” overall.