HAMILTON, Bermuda--(BUSINESS WIRE)--
Signet Jewelers Limited (“Signet”) (NYSE:SIG), the world's largest
retailer of diamond jewelry, recently submitted its fourth consecutive
Conflict Minerals Report to the SEC in accordance with Section 1502 of
the Dodd-Frank Act.
This Smart News Release features multimedia. View the full release here:
http://www.businesswire.com/news/home/20170601005883/en/
(Photo: Business Wire)
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 and 2016. Now Signet has extended its
“Conflict-Free” reporting under Section 1502 for a fourth consecutive
year.
Signet believes that a responsible, conflict-free supply chain is
fundamental to the reputation of the jewelry industry. Signet is,
therefore, committed to continuing our longstanding efforts to advance
responsible sourcing throughout the global jewelry industry supply chain.
Coupled with Signet’s efforts to source “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 four years, our
accomplishments include:
-
Signet is one of the founding members of the OECD’s 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 on-going 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 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 more than quintupled since 2014.
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.
Signet believes that Section 1502 has been a global driving force in the
supply chains of 3TG to establish and maintain responsible,
conflict-free supply chains. Signet acknowledges that Section 1502 has
had some unintended consequences leading some industry participants to
avoid minerals from the DRC and neighboring countries. However, Signet
believes that this can be corrected by amending Section 1502 to align
with the OECD’s Due Diligence Guidance, whereby US companies are
required to undertake and report on due diligence in their supply chains
in accordance with the OECD Guidance. Thus, supplies from these “covered
countries” can be sourced providing they are verified and certified as
“conflict-free.”
For additional information on Signet Jewelers’ Responsible Sourcing
efforts, please see our 2016 Corporate Social Responsibility Report: http://www.signetjewelers.com/CSRreport2016
About Signet Jewelers:
Signet Jewelers Limited is the world's largest retailer of diamond
jewelry. Signet operates approximately 3,600 stores primarily under the
name brands of Kay Jewelers, Zales, Jared The Galleria Of Jewelry,
H.Samuel, Ernest Jones, Peoples and Piercing Pagoda. 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
and www.pagoda.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170601005883/en/
Source: Signet Jewelers Limited