Signet Jewelers Joins United Nations Global Compact, Underlining Commitment to Sustainable Development

Strategic Insights -

Signet Jewelers, the world's largest retailer of diamond jewelry, has taken a significant step towards achieving the United Nations' Sustainable Development Goals by joining the United Nations Global Compact. This move cements the company's purpose-driven growth strategy, which emphasizes the importance of environmental, social, and governance (ESG) initiatives. By aligning its operations with the UN's principles, Signet aims to drive business awareness and action in support of the SDGs by 2030.

Key Takeaways:

  • Signet Jewelers has joined the United Nations Global Compact, a global corporate sustainability initiative, with over 12,000 member companies in more than 160 countries.
  • The company has strengthened its commitment to sustainability by accelerating its long-standing Corporate Social Responsibility strategy, including ESG initiatives.
  • Signet has been recognized for its efforts, including being included in the Bloomberg Gender Equality Index for the third consecutive year, raising its minimum wage to $15/hour for all U.S. employees by 2022, and becoming Great Place to Work-Certified.
  • The company has also increased its Board's representation of women and persons of color to 59%, added two new directors, and deepened its commitment to Diversity, Equity, and Inclusion.
  • Signet has been a Founding and Certified Member of the Responsible Jewellery Council and has provided support to the Diamond Development Initiative, Diamonds Do Good, and the OECD Conflict Minerals Working Group.

Statistics:

  • Signet Jewelers operates approximately 2,900 stores under various brand names, including Kay Jewelers, Zales, Jared, H.Samuel, Ernest Jones, Peoples, Piercing Pagoda, and JamesAllen.com.
  • The company has implemented the UN Guiding Principles on Business and Human Rights since 2011 and OECD Due Diligence Guidance since 2016.
  • Signet has led hundreds of suppliers in implementing the UN Guiding Principles for over a decade.
  • The company has raised its minimum wage to $15/hour for all U.S. employees by 2022.

Sources:

  • Signet Jewelers Ltd. (Copyright 2017 Contify.com)
  • United Nations Global Compact
  • Bloomberg Gender Equality Index
  • Organization for Economic Cooperative Development (OECD)
  • Responsible Jewellery Council
  • Diamond Development Initiative
  • Diamonds Do Good
  • OECD Conflict Minerals Working Group