HAMILTON, Bermuda--(BUSINESS WIRE)--Signet Jewelers Limited (“Signet”) (NYSE:SIG), the world's largest retailer of diamond jewelry, recently submitted its fifth consecutive Conflict Minerals Report to the SEC in accordance with Section 1502 of the Dodd-Frank Act.
Signet was one of only four companies to have its gold conflict-free filing with the SEC independently audited in line with the Section 1502 requirements in 2014, 2015, 2016 and 2017. Now Signet has extended its “conflict-free” reporting under Section 1502 for a fifth consecutive year.
“We know that our customers care about the responsible sourcing of their jewelry,” said Signet Chief Executive Officer Virginia C. Drosos. “That is why we are committed to continuing our longstanding efforts to advance responsible sourcing throughout the global jewelry industry supply chain.”
Coupled with Signet’s efforts to source responsible and conflict-free gold, we also aim to lead the continuous improvement in the integrity of the global jewelry supply chain. To this end, over the last five years, our accomplishments include:
- Signet is one of the founding members of the Organisation for Economic Co-operation and Development’s (OECD) Multi-Stakeholder Group, which developed the Due Diligence Guidance for Responsible Supply Chains on Minerals from Conflict-Affected and High-Risk Areas and which has been active in its further development and implementation. Signet is also a member of OECD’s expert working group developing the OECD Minerals Handbook covering guidance for all minerals.
- We have collaboratively developed and launched the open source Signet Responsible Sourcing Protocols for Gold, 3Ts, Diamonds, Silver and Platinum Group Metals. We are actively developing a Protocol for Colored Gemstones, thereby covering all of the main materials used in the fine jewelry industry.
- We have instituted a process of ongoing dialogue and collaboration within the jewelry industry, governments, civil society, and other organizations, which has contributed to the consistency and harmonization of responsible sourcing standards for the jewelry industry and beyond.
- Signet is the first major non-electronics industry company to be a member and support development of the Responsible Minerals Initiative (formerly the Conflict-Free Sourcing Initiative).
- Signet’s position as a Founding and Certified Member of the Responsible Jewellery Council (RJC) has enabled us to encourage all of our Suppliers to become RJC members as well. The total number of Signet suppliers who are RJC members has nearly quintupled since 2014 and represents around 95% of all Signet purchases. Moreover, harmonization of industry standards with Signet’s Protocols has resulted in more efficient and consistent verification of responsible sourcing standards across the jewelry industry.
- Active engagement in the development of responsible sourcing from artisanal sources: for diamonds through the Diamond Development Initiative (DDI) and for gold through the Responsible Artisanal Gold Solutions Forum (RAGSF).
For additional information on Signet Jewelers’ Responsible Sourcing efforts, please see our 2017 Corporate Social Responsibility Report: https://www.signetjewelers.com/corporate-responsibility/CSR-Report-2017
About Signet Jewelers:
Signet Jewelers Limited is the world's largest retailer of diamond jewelry. Signet operates over 3,500 stores primarily under the name brands of Kay Jewelers, Zales, Jared The Galleria Of Jewelry, H.Samuel, Ernest Jones, Peoples, Piercing Pagoda, and JamesAllen.com. Further information on Signet is available at www.signetjewelers.com. See also www.kay.com, www.zales.com, www.jared.com, www.hsamuel.co.uk, www.ernestjones.co.uk, www.peoplesjewellers.com, www.pagoda.com, and www.jamesallen.com.