Social, Ethical and Environmental Principles

Objectives

Signet’s objective is to operate as a profitable and responsible specialty jewelry retailer, delivering increasing value to our shareholders, while seeking to uphold our social, ethical and environmental principles and considering the interests of its other stakeholders: customers, employees, those with whom we do business, and society as a whole.

We are committed to the continual improvement of business performance and shareholder value over time. Continual improvement will be sought by the constant refinement of the way we do business, utilizing the best and most effective practices in order to increase productivity. We recognize that it would not be possible to fulfill our responsibilities to our stakeholders without the sustained generation of profits over time. Profitability is a measure both of efficiency and of the value that customers place on our products and services.

In addressing the interests of shareholders and other stakeholders we recognize that there are indirect impacts generated by our activities, in particular through our supply chain. We will use our influence with those with whom we do business directly, in particular our agents and suppliers, to promote the achievement of our social, ethical and environmental principles. We will communicate to suppliers our expectations in this regard. We recognize that our ability to influence and promote these principles, beyond our direct suppliers, is limited and see industry-wide approaches as the most effective mechanism for promoting good practice on issues where we do not have direct influence.

Responsibilities

To our shareholders 
Our aim is to deliver an acceptable growth in value to shareholders which is sustainable, thereby protecting shareholders’ short and longer term interests. Signet is committed to upholding high standards of corporate governance and business ethics. Our Board determines all major policies, seeks to ensure effective strategies are in place to create shareholder value and reviews internal control and risk management systems, including those that relate to social, ethical and environmental matters.

To our customers 
As a retailer, we have a responsibility to our customers. Our mission is to meet, and where possible exceed, customer expectations through a high standard of customer service, high store standards, and offering real choice and value. Our policy is that all customers should be treated with respect and warmth. In doing so we endeavor to maintain our product integrity by ensuring that what we sell is what we say it is and by offering merchandise that is responsibly sourced.

To our employees 
Our employees are key to our ability to achieve our objectives and mission. In recognition of this, teamwork, integrity, communication and fair treatment of employees all play an important part in the success of Signet. We value honest, open and constructive “two-way” communication throughout the organization. It is important to us that our employees are proud of the company they work for. We have a responsibility to provide for all our employees:

  • A healthy and safe work environment
  • Fair terms, conditions of service and rewards
  • A work environment that values diversity and does not tolerate any form of unlawful discrimination on any ground or at any level
  • Equal opportunities
  • Training and career paths, while encouraging employees to take individual ownership of their own development
  • Work-home life balance, respecting our employees’ own commitments and responsibilities to family and friends.

Our employees, in turn, are expected to do their best to contribute towards the attainment of our business objectives.

To those with whom we do business 
In order to maintain sustainable relationships with our suppliers, we recognize our responsibility to treat suppliers fairly, ensuring we operate in accordance with the terms and conditions agreed upon.Our suppliers, agents and business partners have a responsibility to supply us with products and services that meet our requirements with respect to quality, delivery and social responsibility. We encourage our suppliers to, where possible, adopt similar social, ethical and environmental principles and to use their influence to promote the achievement of these principles with their direct suppliers and subcontractors.

To society 
The most important contribution that Signet can make is to perform our basic activity as efficiently as possible. Our duty to society is to conduct business responsibly, complying with applicable laws and regulations in the countries in which we operate, while respecting appropriate environmental, human rights and labor standards.

Principles and Policies Framework

The Board has adopted a Statement of Social, Ethical and Environmental (SEE) Principles outlining Signet’s policy to operate as a profitable and reputable specialty jewelery retailer, Signet’s responsibilities to various stakeholders and the SEE principles by which it operates. The Principles cover the following areas:

  • Accountability to stakeholders
  • Business integrity
  • Human rights
  • Labor standards
  • Health and safety
  • The environment
  • Community

Signet has a Supplier Code of Conduct (“Supplier Code”) and policies on business integrity, health and safety, the environment and labor standards. The Principles, Supplier Code and other policies are now incorporated, as appropriate, into the staff induction process and operational procedures within the business.

Signet’s principles and policies are intended to provide a framework with which the divisional policies and procedures conform. They do not replace detailed divisional policies and procedures.

Did you know?

Quotes delayed at least 20 minutes.
Market data provided by Ticker Technologies. Full Disclaimer.
Quotes powered by SunGard.