Tiffany & Co. today released its annual Corporate Responsibility Report. The full report can be accessed at the company’s website (tiffany.com/sustainability, #tiffanycsr) and details Tiffany’s corporate sustainability initiatives and long history of environmental and social responsibility.
“The report documents our long-held commitment to sustainability and influencing others in the jewelry industry to make environmental conservation a critical part of their operations,” said Tiffany & Co. Chairman and CEO Michael J. Kowalski. “We are proud of our accomplishments and proud too of keeping our promise to our customers to redouble our efforts in protecting the natural world.”
Through its business practices and collaborative efforts, the company strives to positively influence the entire jewelry supply chain. For example, Tiffany & Co. continuously works to promote responsible mining standards and increase awareness about critical issues affecting the industry, such as the environmental concerns surrounding the development of the proposed Pebble Mine in Bristol Bay, Alaska.
The 2012 Corporate Responsibility Report provides an overview of Tiffany’s most material environmental and social challenges and opportunities. The following highlights specific areas of the report, which aligns with the Global Reporting Initiative (GRI) and United National Global Compact (UNGC) reporting frameworks.Responsible Mining: Tiffany strives to source diamonds, gemstones and precious metals from mines that conform to high standards of social and environmental responsibility. Tiffany & Co. sources metals and diamonds used in Tiffany & Co. owned and operated manufacturing facilities directly form known mines when possible. Tiffany & Co. manufactures approximately 60% of its jewelry at these manufacturing facilities. In 2012, Tiffany traced 98% of precious metals procured by Tiffany & Co. owned and operated manufacturing facilities directly to a known mine or recycler. Tiffany & Co. purchases all rough diamonds from countries that participate in the Kimberley Process Certification Scheme. Further, Tiffany & Co. traced 100% of the rough diamonds purchased in 2012 either directly to a known mine or to a supplier that sources from multiple known mines.