Signet Jewelers Launches Comprehensive Corporate Sustainability Goals for 2030
Updated: Oct 14, 2021
Signet Jewelers Limited, the world's largest retailer of diamond jewelry, today released its Corporate Citizenship and Sustainability Report and unveiled its comprehensive set of Corporate Sustainability Goals (CSGs). The bold initiative builds on its industry-leading, 20-year track record in responsible sourcing and corporate citizenship.
The 2030 Corporate Sustainability Goals deepen its commitment to leading as a purpose-driven and sustainability-focused company. The new set of 44 goals, including Human Capital Management and Climate Change goals, define Signet's roadmap for corporate sustainability and accountability to its stakeholders over the next decade. As a member of the UN Global Compact, Signet's goals are set with targets aligned with United Nations Agenda 2030 - Decade of Action to achieve the Sustainable Development Goals. One exception is the additional goal of achieving net-zero greenhouse gas emissions by 2050.
"Our 2030 Corporate Sustainability Goals provide a roadmap for the next decade of our journey as a company. From prioritizing our team in creating a rewarding and welcoming culture to protecting human rights throughout our supply chain and innovating in ways such as embracing the circular economy and continually reducing carbon emissions, we're committed to operating in ways that create positive change for our planet and people," said Signet CEO Virginia C. Drosos. "We're the world's largest diamond retailer, and every day we help people create memories that last a lifetime. Our efforts support global cooperation from the private and public sectors to address pressing issues such as climate change, social injustice and more. I couldn't be prouder to embrace this direction — a True North that our customers, employees and investors want — and be the change we want to see in the world."
Signet's Corporate Sustainability Goals complement its stated Purpose of Inspiring Love. The company launched a new sustainability framework with the goals -- defined by "three loves:"
1) Love for All People: These goals encourage Signet and its nine banners and brands to extend its love into the world through marketing, charitable donations and participation in social advocacy. Signet commits to elevating its inclusive marketing, including partnering with St. Jude Children's Research Hospital to feature patients and their families.
2) Love for Our Team: As a Certified Great Place to Work™, and a diverse organization that is known for our highly engaged team, we aspire to always be an employer of choice for all, including underrepresented populations. Building on our diverse Board of Directors (58%), and our female leadership within the company (75% store assistant manager and above), Signet commits to increasing diversity in leadership positions at Director and above by 25% by 2030 as well as become an employer of choice for the LGBTQ+ community.
3) Love for Our Planet and Products: These goals define Signet's commitment to operating practices and policies to address climate change. The company also commits to further developing its circular economy initiatives such as care, repair, and custom design with reclaimed gold and repurposed diamonds. In partnership with its direct and indirect suppliers, the Company will showcase Black, Indigenous and People of Color (BIPOC) jewelry designers and create programs across the globe to provide women with career opportunities and financial growth.
"At Signet, we view Environmental, Social, and Governance (ESG) as an opportunity to create value in every part of our business. The Signet Board's Corporate Citizenship and Sustainability Committee illustrates the Board's belief that sustainability is a fundamental strategy for long-term growth and strongly supports the Company's clear, comprehensive Corporate Sustainability Goals released with this report — as a reflection of our responsibility," said Eugenia Ulasewicz, Signet board member and Chair of the Board Corporate Citizenship and Sustainability Committee. "ESG leadership matters to Signet because it's at the heart of our Purpose — Inspiring Love — and because we know it matters to our customers, our team members, our shareholders, and many others who have a stake in our business."
In conjunction with the issuance of the report and goals, Signet filed its eighth consecutive Form Specialized Disclosure and Conflict Minerals Report with the U.S. Securities and Exchange Commission (SEC) in accordance with Section 1502 of the Dodd-Frank Act of 2010. Each year, Signet's Conflict Minerals Report is accompanied by an independent private sector audit report. The third-party audit supports Signet's disclosure that it has obtained its supply of the minerals covered by Section 1502 – gold, tin, tantalum and tungsten ("3TG") – from "Democratic Republic of The Congo (DRC) conflict-free sources."
Signet has well-established, robust management systems and underlying processes for Conflict Minerals supply chain due diligence and reporting compliance in its supply chain through the implementation of its Signet Responsible Sourcing Protocol (SRSP). Signet's Conflict Minerals Report reflects the complexity and breadth of the jewelry supply chain. It demonstrates the company's commitment to continuous improvement in the integrity of the global jewelry supply chain. Signet is proud of its progressive and pioneering approach in managing supply chain due diligence as a leader in the jewelry industry.
This year's reporting is available in three separate documents. For a full list of the Company Corporate Sustainability Goals, the Company's Corporate Citizenship and Sustainability Report, and supplemental Alignment with ESG Frameworks report, please follow this link to the Signet Jewelers website.
ABOUT SIGNET JEWELERS
Signet Jewelers Limited is the world's largest retailer of diamond jewelry. As a purpose-driven and sustainability-focused company, Signet is a participant in the United Nations Global Compact, and adheres to its principles-based approach to responsible business. Signet is a Great Place to Work –Certified™ company and has been named to the Bloomberg Gender-Equality Index for three consecutive years. Signet operates approximately 2,800 stores primarily under the name brands of Kay Jewelers, Zales, Jared, H. Samuel, Ernest Jones, Peoples, Piercing Pagoda, JamesAllen.com and Rocksbox. Further information on Signet is available at www.signetjewelers.com.