Signet Trading Limited Gender Pay Information – Publication for the period including 5th April 2023
UK gender pay reporting legislation requires employers with 250 or more employees to publish statutory calculations every year showing how large the average pay gap is between their male and female employees.
The analysis is based on data as of 5th April each year.
The gender pay gap shows the differences in the average (mean and median) earnings between men and women. This is different to equal pay. Equal pay requires that men and women who carry out the same jobs; or equivalent jobs, are paid the same.
Signet Trading Limited has published the following gender pay data on GOV.UK
Please click here to find the full statement.
Finance Act 2016 (UK)
Signet Jewelers Limited, a Bermuda company, is the parent company of a global group of companies engaged in the business of jewelry retailing (“Signet”), including in the U.K. through Signet Group Ltd. and its U.K. subsidiaries (“Signet UK Group”). This tax strategy statement, republished January 31, 2024, applies to all Signet companies, including Signet UK Group. Through its operating subsidiaries, Signet is the world’s largest retailer of diamond jewelry. Signet operates over 2,700 locations globally (in the U.K., predominantly through Ernest Jones and H. Samuel) and via eCommerce/OmniChannel. Through subsidiaries, Signet also has supply chain and technology operations in Botswana, India, and Israel.
This statement sets forth our approach to tax, including the following specific descriptions:
- Overview of our approach to tax
- How we manage tax risks
- Our attitude toward tax planning
- Our relationships with tax authorities
Please click here to find the full statement.
European Union (EU) Conflict Minerals Legislation
In May 2017, the EU passed “conflict minerals legislation” to ensure that minerals and metals exported to the EU do not contribute to conflict, that smelters and refiners in the EU and globally do not use raw materials from sources which may contribute to conflict, and that mine workers are not abused.
The law also supports the development of local communities. The law requires EU companies to ensure they import these minerals and metals from responsible sources only.
The law will be enforced from January 1, 2021 and Signet is confident that our already robust processes and procedures will ensure compliance with this legislation.
Modern Slavery Act 2015 (UK)
Signet Trading Limited expects its business suppliers to comply with the applicable laws and regulations of the United Kingdom and those of the respective country of manufacture or exportation. In accordance with the requirements of the Modern Slavery Act 2015, consumers will find below details of the key steps Signet is taking to address slavery and human trafficking in its direct supply chain.
Engagement in verification of product supply chains to evaluate and address risks of human trafficking and slavery:
Signet conducts risk assessments of its supply chain in its effort to evaluate and address risks of human trafficking and slavery. These risk assessments include work conducted by independent external third parties. If potential risks are identified in respect of a supplier, a course of action is determined to best address them.
Auditing of suppliers to evaluate compliance with company standards for trafficking and slavery in supply chains:
Many of Signet’s largest suppliers are certified members of the Responsible Jewellery Council (RJC), as Signet strongly encourages all its suppliers to be. Suppliers that are certified RJC members receive scheduled audits by independent third-party firms as part of a rigorous and fulsome RJC Code of Practices certification process. For certain select suppliers who are not RJC certified, Signet works with QIMA, third party auditors, to ensure an ethical supply chain for jewellery manufacturing. Signet understands its responsibility to prevent unethical working conditions and working with QIMA allows us to monitor our supply chain and ensure decent working conditions and human rights are met. In addition, for all suppliers, purchase order terms and conditions include statements regarding compliance with all laws. By agreeing to these terms and conditions, our suppliers confirm their understanding and agreement to these compliance standards.
Compliance with the laws regarding slavery and human trafficking of the country or countries in which they are doing business:
Signet suppliers are asked to agree to adhere to the respective laws regarding human trafficking and slavery. In addition, we continue to monitor suppliers’ adherence to laws through Signet’s due diligence program which, in part, identifies “red flags” including sanctions.
Maintenance of internal accountability standards and procedures for employees or contractors failing to meet company standards regarding slavery and trafficking:
Signet expects all employees to adhere to and comply with all laws including those related to human trafficking and slavery. Utilising a communication and mandatory training programme, which is the subject of regular review, management is responsible for ensuring that all employees are aware of and adhere to a code of conduct which includes compliance with all laws. Appropriate disciplinary action is taken following any known incidences where an employee fails to adhere to the code of conduct.
Training on human trafficking and slavery for company employees and management who have direct responsibility for supply chain management, particularly with respect to mitigating risks within the supply chains of products:
All Signet employees responsible for supply chain-related decisions and product purchasing are required to complete training to enhance their knowledge of various compliance matters. These programs include identifying and addressing human trafficking and slavery in Signet direct supply chains.
The ultimate parent of Signet Trading Limited is Signet Jewelers Limited (NYSE: SIG). The policies and approach set out in this Modern Slavery Act statement are adopted across the Signet group. More details on Signet’s social, ethical and environmental principles, and responsible sourcing, can be found in the Sustainability section of www.signetjewelers.com.
This statement applies in respect of the Signet financial year ending 3 February 2024. It was approved by the Board of Directors of Signet Trading Limited on 30 April 2024 and is signed on its behalf by:
Neil Old
Managing Director, Signet Trading Limited
30 April 2024
California Transparency in Supply Chains Act of 2010
Signet Jewelers Ltd expects its business suppliers to comply with the applicable laws and regulations of the United States and those of the respective country of manufacture or exportation. Per the California Transparency in Supply Chains Act of 2010 (SB 657), below consumers will find a disclosure of the efforts Signet is taking to address slavery and human trafficking in its direct supply chain.
Engagement in verification of product supply chains to evaluate and address risks of human trafficking and slavery:
Signet conducts risk assessments of its significant suppliers in its effort to evaluate and address risks of human trafficking and slavery. These risk assessments are conducted by independent external third parties. If potential risks are identified, a course of action is determined to best address them.
Auditing of suppliers to evaluate compliance with company standards for trafficking and slavery in supply chains:
Many of Signet’s largest suppliers are certified members of the Responsible Jewellery Council (RJC), as Signet encourages all its suppliers to be. Suppliers that are certified RJC members receive scheduled audits by independent third party firms as part of a rigorous and fulsome RJC Code of Practices certification process. Significant suppliers that are not certified members of RJC are audited by independent third party firms that conduct audits that, while announced, are only announced with sufficient advance notice to permit access. In addition, for all suppliers, Purchase Order Terms and Conditions include statements regarding compliance with all laws. By agreeing to these terms and conditions, our suppliers confirm their understanding and agreement to these compliance standards.
Compliance with the laws regarding slavery and human trafficking of the country or countries in which they are doing business:
Signet suppliers are asked to agree to adhere to the respective laws regarding human trafficking and slavery.
Maintenance of internal accountability standards and procedures for employees or contractors failing to meet company standards regarding slavery and trafficking:
Signet expects all employees to adhere to and comply with all laws which would include such laws related to human trafficking and slavery. Management is responsible for ensuring that all employees are aware of and adhere to a code of conduct which includes compliance with all laws. Any known incidences where an employee does not do so, appropriate disciplinary action is taken.
Training on human trafficking and slavery for company employees and management who have direct responsibility for supply chain management, particularly with respect to mitigating risks within the supply chains of products:
All Signet employees responsible for supply chain-related decisions and product purchasing are required to complete training and assessment programs that are geared to enhance their knowledge of various compliance matters. These programs will be supplemented in 2012 to include identifying and addressing human trafficking and slavery in Signet direct supply chains.
Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act
Signet Jewelers Limited filed a “DRC Conflict Free” Conflict Minerals Report (“CMR”) with the U.S. Securities and Exchange Commission (“SEC”) as part of its Specialized Disclosure Report (“Form SD”) filed on May 31, 2017.
Please follow this hyperlink to see Signet’s Form SD and the attached CMR.
In accordance with Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (“Dodd-Frank Act”), Signet filed a Form SD and an accompanying, independently audited CMR stating that Signet has determined that its jewelry and gift products containing gold, tin, tungsten, or tantalum (“3Ts”) are “DRC conflict-free” as defined by Section 1502 of the Dodd-Frank Act (which added a new Section 13(p) to the Securities Exchange Act of 1934) and Rule 13p-1 and Form SD promulgated by the SEC under this statute.
The CMR states that through the exercise of due diligence, Signet has identified sources of gold and 3Ts in its supply chain which originated, or may have originated, in the Democratic Republic of the Congo and neighboring countries, and has determined that all of these sources qualify as DRC conflict-free for purposes of Section 1502 of the Dodd-Frank Act, the SEC’s rules thereunder and internationally recognized industry guidance and standards.
Signet believes that a responsible, conflict-free supply chain is fundamental to the reputation of the jewelry industry, not just to Signet and is, therefore, committed to continuing our longstanding efforts to advance responsible sourcing throughout the jewelry industry supply chain.