Tiffany & Co. Releases Re-Designed 2013 Corporate Responsibility Report

(IDEX Online News) – Tiffany & Co. has released its fourth annual Corporate Responsibility Report. The company said the re-designed report and website have been changed to ensure the information is meaningful, robust and allows it to connect to its diverse stakeholders on the issues they care about.

Tiffany said that uniquely within the jewelry industry, it has taken an “innovative approach to our sourcing by forming direct relationships with many of the mines that supply our diamonds and precious metals.”

In 2013, Tiffany said it received all of its rough diamonds either directly from a known mine or a supplier with multiple known mines. In addition, the company traced 98 percent of raw precious metals procured by its manufacturing facilities directly to a mine or recycler.

The company’s board of directors also adopted a Conflict Minerals Policy, which articulates principles for responsible gold mining to its vendors.

As well as its business practices, the report also highlighted Tiffany’s charitable contributions, which totaled more than 2 percent of pre-tax earnings. The company also stressed that the Tiffany & Co. Foundation continues to play a key role in its sustainability efforts, supporting leading organizations working in areas such as responsible mining and coral conservation.

“The report details our strong, industry-leading commitment to business practices that are socially and environmentally responsible,” said Tiffany & Co. chairman and CEO Michael J. Kowalski. “As leaders in the jewelry industry, we believe there is both a business imperative and a moral obligation to look beyond our own practices to support responsible behavior throughout the entire jewelry supply chain.”

The full report can be seen at tiffany.com/sustainability.