Signet Jewelers CEO Emphasizes Female Empowerment in the Jewelry Supply Chain at U.S. Department of State
August 08 2019 - 11:41AM
Business Wire
CEO Virginia C. Drosos highlights the
role of responsible sourcing in building consumer trust, unveils
new commitment to strengthen diversity across Signet’s supply
chain
Signet Jewelers Limited (“Signet”) (NYSE: SIG) Chief Executive,
Virginia C. Drosos, today delivered the keynote address at a U.S.
Department of State conference in Washington, D.C. titled “Women’s
Economic Empowerment: Minerals, Responsible Sourcing, and the
Jewelry Supply Chain.”
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Signet Jewelers CEO, Virginia C. Drosos,
offers keynote remarks at the U.S. Department of State "Women's
Economic Empowerment: Minerals, Responsible Sourcing, and the
Jewelry Supply Chain" conference held Thursday, August 8, 2019, in
Washington, D.C. (Photo: Business Wire)
“As the world’s largest retailer of diamond jewelry, we
recognize that customers trust us to ensure that the products and
services we provide are sourced responsibly and respect human
rights,” said Drosos. “Our industry must continue to take actions
to secure our supply chain and empower women at all levels to meet
our customers’ expectations and maintain their trust.”
Within her remarks today, Drosos announced that Signet is
undergoing a comprehensive review of its global supply chain to
catalog and audit existing supplier relationships, and ensure that
it maintains a supply chain that respects and empowers women at all
levels.
Drosos continued, “We see this program as the first step in
developing a more fulsome supplier diversity strategy that builds
on two of our key corporate social responsibility areas, People and
Responsible Sourcing. We take the opportunity very seriously to
make lasting and positive change within the industry, and for all
the participants in our supply chain.”
Signet Jewelers has a long history of taking actions to lead its
jewelry supply chain. Among Signet’s responsible sourcing
accomplishments are:
- For the past six years, Signet filed Form SD and Conflict
Minerals Report with the U.S. Securities and Exchange Commission
(SEC) in accordance with Section 1502 of the Dodd-Frank Act of
2010, becoming one of only four companies—and the only retailer—to
have its SEC gold and 3Ts (tin, tantalum, and tungsten)
conflict-free filing independently audited every year since
2013.
- In April 2019, Signet updated its award-winning Signet
Responsible Sourcing Protocol (SRSP) to include Colored Gemstones,
providing assurance that Signet fine jewelry containing rubies,
sapphires, and emeralds will be verified as responsibly sourced.
This adds to the SRSP previously in place for Gold, 3Ts, Diamonds,
Silver and Platinum Group Metals.
- Signet’s Vice President of Corporate Affairs, David Bouffard,
was elected chair of the Responsible Jewellery Council (RJC) in
2018, the global standards-setting and certification organization
for the jewelry industry. The RJC has more than 1,100 members
supporting human rights, business ethics, and social and
environmental performance throughout the industry. In 2005, Signet
was one of 14 founding members of the RJC.
- In 2018, SIGWATCH, an unaffiliated NGO tracking company based
in the United Kingdom, ranked Signet as one of the top five most
praised companies in the world – the only jewelry company on the
international list – for the company’s responsible sourcing
efforts.
- In 2018, as part of the Responsible Artisanal Gold Solutions
Forum (RAGSF), Signet received jewelry including gold from the
first supply chain designed to source conflict-free artisanal gold
from the DRC for use in products sold to consumers in the United
States. Signet is a founding member of the RAGSF, a
multi-stakeholder coalition which seeks to learn about and address
critical barriers to the production and trade of artisanal gold
from the Great Lakes Region of Central Africa.
- Signet joined the Public-Private Alliance for Responsible
Minerals Trade in 2018, which includes representatives from
government, industry, and civil society. Signet joined as the first
jewelry retailer among leading companies such as Apple, Boeing,
Dell, Ford, Google, Hewlett-Packard, Intel, LG Electronics,
Microsoft, Sony and Verizon.
- Signet was also recognized by Bloomberg’s Gender-Equality Index
(GEI) for its commitment to transparency in gender reporting and
advancing women’s equality. Signet celebrates diversity and
empowers women at all levels of the company. Currently, Signet’s
board of directors is 45 percent women, its C-suite is 50 percent
women, and its store management is 70 percent women.
To learn more about Signet’s ongoing responsible sourcing
efforts, visit the company’s 2018 Corporate Social Responsibility
report.
About Signet Jewelers:
Signet Jewelers Limited is the world's largest retailer of
diamond jewelry. Signet operates approximately 3,300 stores
primarily under the name brands of Kay Jewelers, Zales, Jared,
H.Samuel, Ernest Jones, Peoples, Piercing Pagoda, and
JamesAllen.com. 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, www.pagoda.com, and
www.jamesallen.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20190808005656/en/
David Bouffard Vice President, Corporate Affairs +1 330 668-5369
david.bouffard@signetjewelers.com
Jason Lindesmith Manager, Corporate and Sustainability
Communications +1 330 201-4306
jason.lindesmith@signetjewelers.com
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