Government pilot scheme | Watches of Switzerland joins test to aid ESG with AI

Watches of Switzerland Group has said it will take part in a UK government-funded pilot scheme which will see companies use Artificial Intelligence (AI) tools to benefit Environmental, Social, and Governance (ESG) efforts.

The pilot programme aims to help the luxury watch and jewellery retailer enhance the ESG ambitions of itself and its suppliers.

UK-based company Sevva AI, which focuses on technology for sustainability, will lead the project with a budget of £1million and £500,000 grant funding from Innovate UK, with the remaining investment matched by Sevva AI.

Watches of Switzerland Group notably has some ambitious ESG targets, aiming to cut some of its emissions in half by 2030 and reduce other damaging outputs by 42%, with an overarching goal to be net-zero by 2050 in-line with the Paris Agreement.