Signet Jewelers Limited
Climate Impact & Sustainability Data (2022)
Reporting Period: 2022
Environmental Metrics
Total Carbon Emissions:67,698 tCO2e/year (FY2021)
Scope 1 Emissions:4,769 tCO2e/year (FY2021)
Scope 2 Emissions:37,937 tCO2e/year (FY2021)
Scope 3 Emissions:24,992 tCO2e/year (FY2021)
Renewable Energy Share:0%
Total Energy Consumption:122,316,974 kWh/year (FY2021)
Water Consumption:222,684,476 liters/year (FY2021)
ESG Focus Areas
- Environmental
- Social
- Governance
Environmental Achievements
- Reduced greenhouse gas emissions by 28.4% from FY2020 to FY2021 due to temporary store closures, remote working, and business travel restrictions related to the COVID-19 pandemic.
- Expanded Signet Responsible Sourcing Protocol to include environmental and social policy-specific questions.
Social Achievements
- Raised $7.6 million for St. Jude Children’s Research Hospital® in 2021.
- Donated $1 million to the American Red Cross for humanitarian aid in Ukraine.
- Increased minimum wage to $15 per hour for US retail team members.
- Launched Brilliant University, a new platform for team member training and education.
- Named a Great Place to Work-Certified™ company for the second year in a row.
- Named to the Bloomberg Gender-Equality Index for the fourth consecutive year.
Governance Achievements
- Established a cross-functional Climate Action and Sustainability Committee.
- Signet reporting is in line with Sustainability Accounting Standards Board (SASB) standards.
- Suspended all business interactions with Russian-owned entities following the invasion of Ukraine.
Climate Goals & Targets
Long-term Goals:
- Achieve net-zero greenhouse gas emissions by 2050.
- Have a net positive water impact in water-stressed basins where we operate by 2050.
Medium-term Goals:
- Increase our Great Place to Work® Trust Index© Survey results average score by 10 points by 2030.
- By 2025, management teams to better reflect customers and communities served.
- Use at least 50% recycled content for pulp- and paper-based packaging and collateral and 30% recycled content in plastic-based packaging by 2030.
Short-term Goals:
- By 2025, be certified as a Great Place to Work® for five consecutive years.
- Improve Field and Support Center retention by 10% by 2025.
- Increase diversity in leadership positions at Director and above by 25% by 2030.
- 100% of key suppliers to be certified Responsible Jewellery Council (RJC) members by 2025.
Environmental Challenges
- Setting science-based emission reduction targets.
- Ensuring responsible sourcing of precious metals and diamonds.
Mitigation Strategies
- Making steady progress toward the systems and capabilities needed for ambitious climate targets.
- Implementing a rigorous and collaborative approach to responsible sourcing based on a four-layered consumer confidence approach.
- Developing and implementing the Signet Responsible Sourcing Protocol (SRSP).
Supply Chain Management
Supplier Audits: 17 ethical audits and 10 SRSP data verification audits in FY2022
Responsible Procurement
- Signet Responsible Sourcing Protocol (SRSP)
- Responsible Jewellery Council (RJC) Code of Practices
- Kimberley Process Certification Scheme (KPCS)
- OECD Due Diligence Guidance
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: SASB
Certifications: Great Place to Work-Certified™, RJC
UN Sustainable Development Goals
- Goal 3
- Goal 4
- Goal 5
- Goal 10
The Signet Love Inspires Foundation aligns its grant-making policy with the UN SDGs.
Sustainable Products & Innovation
- Remixed Reimagined line using reclaimed gold and repurposed diamonds