In this interview, drawn from Positive Luxury’s latest report, Luxury at a Crossroads, Iris Van Der Veken, Executive Director at Watch & Jewellery Initiative 2030, reflects on the pressures and possibilities shaping 2026. From geopolitical headwinds and greenhushing to the rising material risks of nature loss, Van Der Veken outlines why sustainability is no longer peripheral but central to business resilience and value creation. Grounded in her work with the Watch & Jewellery Initiative 2030, she also makes a compelling case for collaboration, transparency and gender equality as critical levers for meaningful progress across the luxury value chain.
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What are the challenges around sustainability that you think will define 2026?
The challenges defining 2026 will stem from the conflict between significant geopolitical dynamics and the undeniable need to tackle material ESG topics as we all experience the climate, human rights and nature crises. Companies need to realise that sustainability is about de-risking, securing companies’ operations, value creation and shaping a resilient business model in the long-term. In the 25 years I have been working on the ground in sustainability, I see how sustainability is starting to be much more integrated across all business functions. This is critical to embed sustainability at the core of governance and business strategy. Some of the current challenges we see include:
Political Backlash and Green-hushing: The industry is likely to encounter ongoing political challenges, including obstacles to operationalising legislation across the value chain, including the SMEs. This complex political environment may help explain the current tendency toward “green-hushing” in company communications, even as substantial internal sustainability efforts continue.
Facts: In 2007, 72% of CEOs prioritised brand and reputation outcomes. By 2022, 79% of CEOs saw a business case for at least one Sustainable Development Goal (SDG) of the UN. In 2025, 88% of CEOs believe the business case for sustainability is stronger today than five years ago. And 97% remain committed to the SDGs, however only 50% feel comfortable speaking out on sustainability. Source: 2025, UN Global Compact-Accenture CEO Study
The Silent Crisis Becoming Material: As said by Georg Kell, founder of the UN Global Compact, a major defining challenge is that nature is “not quiet anymore” and is forcing its way into business discussions. We are already seeing price signals, such as rising insurance and food supply costs, which are clear indicators of the materiality of ESG issues.
Facts: (Source: Illuminem, Andreas Rasche & Georg Kell, September 2025) on Insurance and Food Costs Rising:
- Cocoa prices up 300% in a year after unprecedented heat in West Africa
- Olive oil up 50% after severe droughts in Spain
- Home insurance premiums soaring as risk models collapse
- Massive Financial Risk: The potential degradation of natural ecosystems represents a massive financial challenge.
Facts: More than half of the world’s gross domestic product (GDP) – valued at approximately $58 trillion – is highly or moderately dependent on nature. Despite this dependence, nature degradation continues globally, driven by land- and sea-use changes, climate change, resource exploitation, pollution and invasive species. Source: World Economic Forum, 2025
A New Model of Value Creation: The systems we’ve used to define success for the past century were built for a different world – one where quarterly earnings, volume, and short-term ROI were the ultimate scorecard. In 2025, that model is no longer sufficient. It tells us what a company earns, not what it costs – to the planet, to people, or to future generations. If we want to drive genuine transformation, we have to expand what we measure and reward. That’s why the conversation is shifting from ESG as reporting to impact as performance.
In practical terms, companies will need to track a mix of forward-looking and outcome-based indicators that reflect sustainability as value creation. For example:
- For climate: absolute and intensity-based emissions reduction trajectories aligned with SBTi, progress on renewable energy sourcing, and percentage of low-carbon materials used.
- For nature: hectares restored, water use efficiency, biodiversity gains, and circular-material recovery rates.
- For people: living wage coverage, gender pay parity, training hours per employee, and representation of women in management and leadership positions across the value chain.
- For governance: board-level oversight of ESG, supply-chain transparency scores, and grievance redressal performance.
What are your sustainability priorities for 2026?
The Watch & Jewellery Initiative 2030 believes in collaborations and partnerships as the only way forward to bring along everyone in the value chain. SMEs are at the heart of the value chain. They need more than ever simplification, support and capacity-building. For our industry of watches and jewellery that is so connected to emotional value, it is key that all actors involved are able to deliver that promise of trust to the consumer. This requires education, collective action and accountability. That’s where we, together with our key stakeholders, want to bring value to the business, through our tools and frameworks aimed at operationalising compliance, building internal capacity and bringing companies of all sizes on board through our Action Journey Framework.
WJI 2030 launched the Impact Action Journey Framework at Davos 2025. Developed over 18 months with input from experts, civil society, and financial institutions, the framework introduces a new, digital-first model for sustainability reporting in the watch and jewellery sector. It enables real-time, evidence-based disclosure to improve transparency. The framework sets a unified baseline for sustainability reporting, supporting businesses of all sizes. It focuses on three key impact areas – climate, nature & biodiversity, and inclusiveness – to support companies drive measurable progress and create business value.
What are some key priorities that are important for our industry?
Business Resilience and Integration: The approach must shift to viewing sustainability as a “business imperative” and connecting it across all business functions – including design & creation, compliance, procurement, supply chain management, talent management, marketing, retail after service – to ensure operational resilience, build positive impact and reduce exposure to risks. In practice, this means that everyone involved needs the tools and mechanisms to do this. Capacity-building is key as you need to bring everyone along the journey.
- Managing Nature as Capital: Companies must prioritise seeing nature as a capital that needs to be closely managed, just like financial capital. This involves focusing on concrete actions like sustainable sourcing (and the restoration of impacted nature), water stewardship, and ecosystems preservation. WJI 2030 Nature Roadmap, Nature Action Playbook, and soon-to-launch Nature Proof of Concept are designed to support companies turn commitment into measurable impact – step by step. The WJI 2030 Nature Roadmap provides practical guidance to support companies steer toward a nature-positive future, with frameworks, best practices, and evolving insights that reflect the fast-changing nature– business landscape. Nature Action Playbook is a practical toolkit of 20 concrete steps covering strategy, governance, resourcing, and supply chain action. Each step is linked to clear step-by-step guidance and outcome expectations, with tailored support for SMEs to help bridge capacity gaps. This playbook has been piloted with members in 2025, and is going open source in 2026. Nature Proof of Concept, launching Q1 2026, will demonstrate how businesses have operationalised the Playbook, showcasing real-world examples of progress and practical guidance to inspire others.
- Trust and Transparency: Building trust and transparency must be prioritised, as these are becoming the new currencies. Luxury consumers, in particular, demand next to beautiful creations and craftsmanship, integrity and proof, wanting to know who made this, where it came from, and what impact it had on people and planet. Transparency and traceability are not negotiable.
- Eco-Innovation: For the luxury sector, the priority is to add eco-innovation to the mix of heritage, excellence, and longevity, thereby strengthening the positive impact on society and nature. According to the latest Circularity Gap Report, the world remains only 6.9% circular – a stark reminder of the work ahead. In this context, we have started a Circularity Workstream.
- Collaboration and Scaling: Investing in strategic partnerships to build practical, scalable solutions, especially for the SME community. At the WJI 2030, we acknowledge the great work being done by many organisations across the watch and jewellery industry.
We do not want to reinvent the wheel. We want to work together with others to offer practical tools to support the industry in advancing. The consumer deserves trust and we are all accountable to deliver that promise. Small and medium-sized enterprises (SMEs) account for 90% of businesses worldwide, according to the World Economic Forum. We have built practical solutions that are scalable for the wider industry with a special focus on the small and medium-sized enterprises (SMEs) community. In 2024, in partnership with the United Nations Global Compact, WJI 2030 developed the Solutions Lab for SMEs, empowered by CIBJO. We have just launched a new Module “First steps to sustainability: An interconnected approach for SMEs in the watch & jewellery industry” and the “Responsible Sourcing” tool for SMEs. These learning modules are designed for small and medium-sized enterprises (SMEs) and companies taking their first steps in sustainability within the watch & jewellery sector. This course translates industry knowledge into practical, step-by-step guidance that SMEs can apply immediately across the three pillars of Climate Resilience, Preserving Resources and Fostering Inclusiveness.
And if you could achieve just one thing brilliantly in 2026, what would it be?
If I had a magic wand, my first priority would be to foster even stronger collaboration among all organisations working on sustainability. There’s an incredible amount of good work happening across the industry, but now the focus needs to shift to efficiency, scalability, and collective impact. A topic that is particularly close to my heart is gender equality. The latest UN Women Flagship Report, Unfinished Business: Private Sector and Gender Equality (2025), highlights stark gaps: women’s labour force participation is 64.5% versus 92.2% for men; the gender wage gap remains at 20%; women occupy only 30% of managerial roles; 708 million women are outside the workforce due to unequal care responsibilities; and women’s employment is disproportionately affected by AI at 27.6% compared to 21.1% for men. These numbers are unacceptable, especially in our industry.
In the watch and jewellery sector, there’s a real opportunity to advance the gender agenda across the entire value chain. I would encourage companies to commit to the Women’s Empowerment Principles (WEPs) and join hands with WJI 2030 on accelerating and advancing Gender Responsive Procurement (GRP). I deeply respect Ilaria Resta, CEO of Audemars Piguet, in her role as CEO, and I am happy to see she also signed the WEPs to advance this critical topic in our industry.
In early 2023, UN Women joined forces with WJI 2030 to introduce a pilot programme aimed at evaluating gender responsive procurement practices in the industry. Nine members of WJI 2030 participated in this initiative, marking the first effort to utilise the tool within an industry-specific context. Among the 9 companies were Cartier, Dimexon, Gucci, Italpreziosi, Julie Sandlau Vietnam, Monica Vinader, Rosy Blue, Rubel & Menasché and Swarovski. In September 2024, during the UN General Assembly, WJI 2030 published its first case study on Gender-Responsive Procurement. Phase 2 of the initiative, which started in 2025 with UN Women, focuses on supplier engagement and accountability. In collaboration with members and experts, we’re developing practical tools to support companies in assessing and engaging suppliers through a gender lens. Key outputs include a Supplier Engagement Checklist, contract and code of conduct templates, and a Training Toolkit for procurement teams and suppliers. Workshops have been completed, and a GRP toolbox is set for release in Q1 2026.
We welcome other organisations to join us in this exciting journey moving forward.
DOWNLOAD THE FULL REPORT ‘LUXURY AT A CROSSROADS’ FOR MORE INDUSTRY INSIGHTS
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