Signet Jewelers Releases Corporate Social Responsibility Report Detailing Industry-Leading Responsib
Updated: Nov 3, 2018
Signet Jewelers Limited ("Signet") (NYSE: SIG), the world's largest retailer of diamond jewelry, has released a Corporate Social Responsibility (CSR) Report that benchmarks the Company's industry-leading responsible sourcing and global CSR initiatives.
The Signet Corporate Social Responsibility Report focuses on Signet's four key pillars: People, Responsible Sourcing, Environmental Stewardship and Corporate Giving. This is the Company's first formal CSR Report.
"We are committed to ensuring our jewelry is sourced and made responsibly, we continue our long tradition of giving back to the communities in which we live and work, we incorporate environmentally responsible best practices; and we champion our Team Members," said Mark Light, Chief Executive Officer of Signet Jewelers.
Eugenia Ulasewicz, Signet Board Member and 2017 Incoming Chair of the CSR Board Committee said, "I would like to thank Dale Hilpert for all that he accomplished as Chair of Signet's CSR Board Committee over the last three years that made this report possible. For Signet, our tradition of corporate social responsibility has always been about doing the right thing for all of our stakeholders. This is a part of our Core Values. We firmly believe that CSR makes our business stronger and more sustainable over the long-term."
Key highlights from Signet's CSR Report include:
Signet leads the industry as 1 of 4 US companies to have reported a conflict-free gold supply chain for 3 consecutive years to the SEC, as verified through independent audits.
In 2016, the Company launched the Signet Responsible Sourcing Protocol for Diamonds, requiring suppliers to be in full auditable compliance in 2017. The Protocol is another protection to ensure due diligence on the source of all diamonds delivered to Signet.
Signet continues to work with industry, governments, trade associations and NGOs to drive change and ensure supply chain integrity.
Over the past four years, Signet has reduced its energy consumption by 24% in offices and retail space and saved over 2 million gallons of water by implementing efficiency measures.
Ongoing initiatives to further reduce its impact include employing best practices to optimize its transportation services and employing green building principles.
The Company launched a new "On the Move Challenge" in 2016 to encourage and support employees in their health and wellness. More than 4,200 employees around the globe participated in the program by setting personal goals, tracking their movement and sharing their successes.
Signet raised $10 million in 2016 alone through Team Member, Guest and Corporate contributions to support national, regional and local charitable organizations around the world.
Since 1999, Signet has raised nearly $60 million to support the lifesaving work of St. Jude Children's Research Hospital®. This year, Signet expanded the number of US stores participating in its successful give-at-the-register program to help reach its goal of $90 million in contributions to St. Jude.
About Signet Jewelers
Signet Jewelers is the world's largest retailer of diamond jewelry. Signet operates approximately 3,600 stores primarily under the name brands of Kay Jewelers, Zales, Jared The Galleria Of Jewelry, H. Samuel, Ernest Jones, Peoples and Piercing Pagoda.