ur commitment to hold suppliers to higher standards is embodied in our industry-leading, open-source Signet Responsible Sourcing Protocol (srsp). This protocol has been developed through a collaborative, multi-stakeholder process that incorporates input from more than 80 suppliers, producers, major jewelry trade associations, civil society, auditors, customers, governments and banks.
In 2018, we consolidated the core elements of the srsp into one document with appendices for each mineral and included a special section on human rights, developed in line with the Responsible Jewellery Council’s (rjc) Code of Practices’ references to human rights and through extensive consultation with outside stakeholders. Our silver and platinum group metals srsp requirements are aligned with the London Bullion Market Association (lbma) Responsible Sourcing Standards. In 2019, we are publishing the srsp for Colored Gemstones (cg-srsp), providing assurance that Signet fine jewelry containing rubies, sapphires and emeralds will be verified as responsibly sourced.
Throughout 2018, we collaborated with the top 25 suppliers specializing in colored gemstones to develop this protocol. Drafts also were shared with civil society organizations and jewelry trade associations. The cg-srsp is aligned with the rjc code of practices (CoP) and reiterates the Signet ban on all rubies sourced from Myanmar. We anticipate full supplier compliance with this latest addition to the srsp in 2020.
Our 2017 acquisition of R2net, including James Allen, has been integrated into Signet’s rjc recertification in 2018. R2net has contributed to the 2018 srsp compliance reporting process and is developing a responsible sourcing protocol for James Allen and R2Net D-Market participants that is consistent with the srsp and the Diamond Appendix.
Courtesy of SIGWATCH, an unaffiliated NGO tracking company based in the United Kingdom
Signet’s industry-leading responsible sourcing program, including its SRSP, has placed us among the top five companies in the world most praised by NGOs.
SIGWATCH is a private research organization and consultancy that tracks NGO campaigns around the world. Signet's ranking improved from below #40 in 2017 to #5 in 2018 of the world’s top companies, primarily as a result of our responsible sourcing policies and practices.
|Top 10 for ngo praise in 2018||2017 Ranking||reasons for ngo praise in 2018|
|1||Unilever||1||Palm oil, animal welfare, fragrance disclosure, sustainability|
|2||Allianz||Below 40||Climate commitments (coal)|
|3||AXA||34||Climate commitments (coal)|
|4||Swiss Re||Below 40||Climate commitments (coal)|
|5||Signet Jewelers||Below 40||Responsible gem & mining sourcing|
|6||McDonald’s||14||Animal welfare, plastics, climate & forest commitments|
|7||Aldi||9||Animal welfare, plastics, forest commitments, “healthy checkouts”|
|8||lldi||12||Tobacco, ‘ghost gear’ (discarded plastic fishing nets), fair trade, plastics, caged eggs|
|9||Nestlé||4||Palm oil, ‘ghost gear’, animal welfare, GMOs, cocoa sourcing|
|10||H&M||2||Supply chain transparency & standards, stance on mohair and viscose|