Signet has a formal social ethical & environmental (SEE) governance framework with SEE principles and policies. The Board has adopted a Statement of SEE Principles outlining Signet’s policy to operate as a profitable and reputable specialty jewelry retailer, and its responsibilities to various stakeholders and the SEE principles by which it operates. Signet’s SEE Committee has the responsibility for the implementation of the various aspects of the SEE principles and policies, including climate change initiatives, through a program approved by the Board. The Chief Executive Officer has been designated as the director responsible for SEE matters including those relating specifically to climate change, and reports to the Board on a regular basis.
The procedures for SEE risk management are embedded within Signet’s management structure. However, Signet’s share of the worldwide jewelry and watch market is less than 3% of the total. Therefore, it is management’s belief that it can be most effective in influencing improvements in the supply chain by working with other industry representatives who together can, by concentration into a single industry voice, be representative of many aspects of the supply chain and use their combined influence in working to improve the supply chain as a whole. In support of this position, the Chief Executive of the US division is on the Board of Jewelers of America and its Ethical Initiatives Committee and chairs the Industry Affairs Committee. Signet’s Group Company Secretary is a director of the Responsible Jewellery Council and of the World Diamond Council.