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Signet Launches Corporate Sustainability Goals for 2030, Accelerating Plan for Long-Term, Sustainable Growth July 05, 2021 (0 comments)


Akron, OH—Signet Jewelers Limited (NYSE: SIG) has released its Corporate Citizenship and Sustainability Report and unveiled its comprehensive set of Corporate Sustainability Goals (CSGs) for 2030. The jeweler has accelerated its plan for long-term sustainable growth. 

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 align with United Nations Agenda 2030 - Decade of Action to achieve the Sustainable Development Goals. One exception is the jeweler’s additional goal of achieving net-zero greenhouse gas emissions in both company operations and jewelry 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, ensuring that it has obtained its supply of the minerals covered by Section 1502 from conflict-free sources. Signet has robust systems and processes for supply chain due diligence and reporting compliance in its supply chain and is committed to continuous improvement in the integrity of the global jewelry supply chain. Signet is proud of its role as a due-diligence leader in the jewelry industry.

Full reports are available on Signet’s website here.

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