Shining a Light on the World of Watches “Maybe the imitation watches industry is a little bit conservative, or not quite aware, but they will get a wake-up call, there’s no way around it,” Paul Roeland, a data and sustainability reporting expert with the Clean Clothes Campaign in Amsterdam, said on a recent video call.
This week, the European Parliament is expected to approve the Corporate Sustainability Reporting Directive, a wide-reaching piece of legislation designed to bring sustainability reporting on par with financial reporting. Aimed at companies that fulfill two of the following three criteria — 250 or more employees, net annual sales of at least 40 million euros ($39.4 million) and total assets of €20 million or more — the directive, and related legislation being developed by the European Union, would force many luxury watchmakers to document their supply chains, in some cases for the first time.