Signet Con­firmed As Con­flict-free For Five Con­sec­u­tive Years

Solitaire - - SPECTRUM -

Ber­muda-head­quar­tered Signet Jewel­ers Lim­ited, the world’s largest re­tailer of di­a­mond jew­ellery, re­cently sub­mit­ted its fifth con­sec­u­tive Con­flict Min­er­als Re­port to the SEC in ac­cor­dance with Sec­tion 1502 of the Dod­dFrank 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 jew­ellery,” said Signet chief ex­ec­u­tive of­fi­cer Vir­ginia C. Drosos. “That is why we are com­mit­ted to con­tin­u­ing our long-stand­ing ef­forts to ad­vance re­spon­si­ble sourc­ing through­out the global jew­ellery in­dus­try supply chain.”

Signet also aims to lead the con­tin­u­ous im­prove­ment in the in­tegrity of the global jew­ellery supply chain. To this end, over the last five years, its 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. • Signet has col­lab­o­ra­tively de­vel­oped and launched the open source Signet Re­spon­si­ble Sourc­ing Pro­to­cols for Gold, 3Ts, Di­a­monds, Sil­ver and Plat­inum Group Met­als. It is ac­tively de­vel­op­ing a Pro­to­col for Coloured Gem­stones, thereby cov­er­ing all of the main ma­te­ri­als used in the fine jew­ellery in­dus­try. • The com­pany has in­sti­tuted a process of on­go­ing di­a­logue and col­lab­o­ra­tion within the jew­ellery in­dus­try, gov­ern­ments, civil so­ci­ety, and other or­gan­i­sa­tions, which has con­tributed to the con­sis­tency and har­mon­i­sa­tion of re­spon­si­ble sourc­ing stan­dards for the jew­ellery 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 Con­flic­tFree Sourc­ing Ini­tia­tive). • Signet’s po­si­tion as a found­ing and cer­ti­fied mem­ber of the Re­spon­si­ble Jew­ellery Coun­cil (RJC) has en­abled it to en­cour­age all of its 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, har­mon­i­sa­tion of in­dus­try stan­dards with Signet’s Pro­to­cols has re­sulted in more ef­fi­cient and con­sis­tent ver­i­fi­ca­tion of re­spon­si­ble sourc­ing stan­dards across the jew­ellery in­dus­try. • Signet is known for its 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).

Signet is one of only four com­pa­nies to au­dit and re­port on con­flict-free gold in 2014, 2015, 2016, 2017 and 2018 (Graphic: Busi­ness Wire)

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