Signet Jewelers unveils sustainability goals for 2030

By

Jennifer Braun

Published
Jul 1, 2021

International jewelry retailer Signet Jewelers released on Wednesday its 'Corporate Citizenship and Sustainability Report', unveiling a set of 'Corporate Sustainability Goals' (CSGs) including both purpose-driven and sustainability-focused initiatives. 

The reports unveils a new set of 44 goals, under three main themes: 'Love for All People', 'Love for Our Team' and 'Love for Our Planet and Products'. The goals are aligned with the UN Global Compact, the world’s largest corporate sustainability initiative, which Signet joined in March 2021.

As part of its commitments for Love for All People, Signet said it will continue to be advocates for social change by leading innovative and inclusive marketing campaigns. Likewise, it will establish the 'Signet Love Inspires Foundation' with an emphasis on team member engagement with social causes important to the communities where team members live and work, and will align the Signet Love Inspires Foundation grant. 

Under Love for Our Team, the retailer is aiming to become an employer of choice by becoming a Fortune 100 Best Companies to Work For by improving its scores on Great Place to Work by 2025 and becoming an employer of choice for LGBTQ+ communities recognized by the Human Rights Campaign Corporate Equality Index. Moreover, the retailer revealed goals to be more inclusive, and to increase its base wage to $15/ hour by spring 2022 in the U.S.

Finally, as part of its commitment to Love for Our Planet and Products, Signet has committed to goals to operate practices and policies to address climate change. Goals include partnering with leading transportation suppliers in order for Signet to achieve net-zero greenhouse gas emissions by 2050, and creating sustainable packaging options for consumer selection in stores and online.

"Our 2030 Corporate Sustainability Goals provide a roadmap for the next decade of our journey as a company. From prioritizing our team in creating a rewarding and welcoming culture to protecting human rights throughout our supply chain and innovating in ways such as embracing the circular economy and continually reducing carbon emissions, we're committed to operating in ways that create positive change for our planet and people," said Signet CEO, Virginia C. Drosos. 

"We're the world's largest diamond retailer, and every day we help people create memories that last a lifetime. Our efforts support global cooperation from the private and public sectors to address pressing issues such as climate change, social injustice and more. I couldn't be prouder to embrace this direction — a True North that our customers, employees and investors want — and be the change we want to see in the world.”

In June, Signet reported total first-quarter sales of $1.7 billion, an increase of 98.2 percent from $852.1 million in the same period in the previous year, led by strong growth in North America.