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Policies & IssuesApr 19, 2017
Signet Launches Report Detailing Sourcing, CSR Efforts
The 2016 Corporate Social Responsibility Report is the company’s first public report of the kind.
Akron, Ohio--Signet Jewelers Ltd. has released its first Corporate Social Responsibility (CSR) report, which provides performance information for calendar year 2016 for its businesses in North America and the United Kingdom.
The report, which also contains some information for previous years, focuses on four areas: people, responsible sourcing, environmental stewardship and corporate giving.
Some of the highlights from the report are as follows.
--Last year, Signet launched the Signet Responsible Sourcing Protocol for Diamonds to ensure due diligence on the sourcing of all diamonds sent to Signet. Suppliers are expected to be fully compliant in 2017.
-- It also has protocols in place for gold and tungsten, tantalum and tin. The company currently is developing responsible sourcing protocols for platinum group metals, which it will launch this year, and for colored gemstones, which is scheduled to launch by 2020.
--Signet suppliers were told last year that they will be required to become members of the Responsible Jewelry Council.
--Last year, Signet partnered with the Diamond Development Initiative to fund two mobile schools for mining communities in the Kasai Occidental province of the Democratic Republic of the Congo, designed to provide education to 50 children who likely would otherwise be working in the mining fields.
--In 2016, the company raised $10 million through corporate, employee and customer contributions to support national, regional and local charities around the world.
--The company has reduced its energy consumption by 24 percent over the last four years in offices and retail spaces and also has saved more than 2 million gallons of water by implementing efficiency measures.
--Other ongoing initiatives include optimizing its transportation services and employing green building principles, including a per-employee business travel emissions decrease of 18 percent between 2015 and 2016.
--During the most recent holiday season, Signet rolled out 100 percent recyclable paper shopping bags that also are made with 40 percent post-consumer waste at its Kay Jewelers and Jared the Galleria of Jewelry stores.
--Since 1999, Signet has raised nearly $60 million to support St. Jude Children’s Research Hospital, and this year, the company is expanding the number of U.S. stores participating in its give-at-the-register program to help reach its goal of $90 million in contributions to the hospital.
For the full report, visit SignetJewelers.com.
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