Signet Jewelers Releases its Fiscal 2022 Corporate Citizenship and Sustainability Report

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Jun 07, 2022, 08:30 ET

Highlights Progress Towards its 2030 Corporate Sustainability Goals Showcases Notable Leadership in DEI

AKRON, Ohio, June 7, 2022 /PRNewswire/ -- Today, Signet Jewelers Limited, the world's largest retailer of diamond jewelry, released its Fiscal 2022 Corporate Citizenship and Sustainability Report highlighting progress the company is making towards its 10-year Corporate Sustainability Goals. Signet's holistic focus on its Three Loves—Team Members, People, Planet and Products—includes comprehensive environmental, social and governance (ESG) data leveraging the Sustainability Accounting Standards Board (SASB) standards.

Signet Jewelers Fiscal 2022 Corporate Citizenship and Sustainability Report highlights progress towards its 2030 Corporate Sustainability Goals and showcases notable leadership in diversity, equity and inclusion.

"I am proud of the strong progress we are consistently making toward our 2030 goals," said Signet Jewelers CEO Virginia C. Drosos. "As we continue to elevate our sustainability efforts, our Purpose of Inspiring Love and our Three Loves continue to be not only sources of pride, but also drivers of action and impact." She added, "Our progress on DEI over the past four years is particularly notable with 76% of Signet's store assistant managers and above being women as well as 42% of Signet's VPs and above, the cornerstone for our recognition in Bloomberg's Gender-Equality Index four years running."

In addition to its own framework, Signet is a member of the UN Global Compact, which affirms the company's long-standing dedication to responsible, ethical business practices and upholding the Ten Principles of the UN Global Compact on human rights, labor, environment, and anti-corruption.

"Our Purpose – our whole reason for being – is Inspiring Love. That focus ignites our entire team and guides our Corporate Sustainability Goals. By working together with our Signet colleagues and our global partners we're taking action ourselves while also driving positive change in the jewelry industry and as advocates for a better world," added Colleen Rooney, Chief Communications & ESG Officer, Signet Jewelers.

Background and Progress

In 2021, Signet announced its 2030 Corporate Sustainability Goals, which deepened the company's commitment to leading as a purpose-driven and sustainability-focused organization. Signet established a total of 44 Corporate Sustainability Goals with the goal of accomplishing three in the past year as follows:

Establishing the Signet Love Inspires Foundation, focused on underserved women and children, and social change advocacy;
Aligning the Signet Love Inspires Foundation grant-making policy with the United Nations Sustainable Development Goals to meaningful measure Signet's impact toward solving the world's most pressing problems; and
Increasing Signet's base wage to $15/hour by Spring 2022 in the US. (Completed ahead of schedule in Q3 FY22)

Signet organizes its sustainability efforts through a framework it refers to as its "Three Loves": Love for All People, Love for Our Team and Love for Our Planet and Products. Over the past year, Signet has made meaningful progress and strengthened the company's impact in all three of these pillars:

Love for All People: Inspiring Love into the world through marketing, charitable donations, and participation in social advocacy as Signet and through its ten consumer-facing banners. Since the start of their 23-year partnership with St. Jude Children's Research Hospital®, Signet has raised nearly $89 million for the organization. Signet also recently announced that it was suspending business interaction with Russian-owned entities in response to the crisis in Ukraine.
Love for Our Team: Amplifying its focus on being an employer of choice for all, including underrepresented populations and highlighting the significant presence women have within Signet's leadership team. Signet is a twice awarded Great Place to Work-Certified™ Company and has also been listed on the Bloomberg Gender-Equity Index for four consecutive years – the only specialty jewelry retailer on the Index. In addition, Signet reports using the Human Rights Campaign Foundation's Corporate Equity Index, the national benchmarking tool on corporate policies, practices and benefits pertinent to lesbian, gay, bisexual, transgender and queer employees.
Love for Our Planet and Products: Defining Signet's commitment to business practices and policies to address human rights, climate change and committing to further developing the circular economy. In 2021, Signet recovered and resold over 120,000 carats of diamonds, and 89% of all Signet Jewelry was sourced from Responsible Jewellery Council (RJC) members.

To see Signet's entire 2022 Fiscal Corporate Citizenship and Sustainability Report, click here.

ABOUT SIGNET JEWELERS
Signet Jewelers Limited is the world's largest retailer of diamond jewelry. As a purpose-driven and sustainability-focused company, Signet is a participant in the United Nations Global Compact and adheres to its principles-based approach to responsible business. Signet is a Great Place to Work–Certified™ company and has been named to the Bloomberg Gender-Equality Index for four consecutive years. Signet operates approximately 2,800 stores primarily under the name brands of Kay Jewelers, Zales, Jared, Banter by Piercing Pagoda, Diamonds Direct, JamesAllen.com, Peoples, H. Samuel, Ernest Jones and the jewelry subscription service, Rocksbox. Further information on Signet is available at www.signetjewelers.com.