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Signet Responsible Sourcing Protocol for Diamonds
David BouffardSignet Vice President, Corporate Affairs
World Diamond Congress
Dubai, UAE
May 2016
Signet FY15 Full
Agenda• Introduction
• Signet’s Corporate Affairs Structure
• Corporate Social Responsibility at Signet
• Signet’s Commitment to Responsible Sourcing
• Diamond SRSP
• OverviewSignet FY15 Full
Year Results
• Overview
• Categories
• Working Towards Compliance
• Development Timeline
• Compliance Reporting Timeline
• RJC Membership and Provenance
Claims
Introduction
• Signet’s Corporate Affairs Structure
• Corporate Social Responsibility at Signet
• Signet’s Commitment to Responsible Sourcing
Signet Corporate Affairs Structure
Strategic Corporate
Communications
Government
Relations
Industry Relations Corporate Social
Responsibility / Corporate
Giving
David Bouffard
Vice President
Signet Corporate Affairs
Communications
Planning
Relations Responsibility /
SustainabilityGiving
Corporate Social Responsibility at Signet
PillarsPeople Charitable
Giving
Responsible
Sourcing
Environmental
Stewardship
Signet’s Commitment to Responsible Sourcing
A two-pronged approach
For
CompaniesFor
ProductsRJC Certified Members *
Products
RJC membership and RJC certification
reassures Signet of our suppliers
responsible sourcing practices
Compliance with the SRSPs
reassures Signet of the integrity of
our supply chain and the products we sell
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Signet’s Commitment to Responsible Sourcing
• Signet believes that a responsible supply chain is fundamental to the reputation of the jewelry industry and its future.
• Signet has been active in the development of harmonized industry guidance and standards:Organisation for
Economic Co-operation
and Development (OECD)
Dubai Multi
Commodities Centre (DMCC)London Bullion
Market Association (LBMA)
Responsible Jewellery
Council (RJC)
Conflict-Free
Sourcing Initiative (CFSI)
• Conflict-free sourcing has been a part of a broader initiative around responsible sourcing.
• The objective is to ensure all Signet jewelry materials are responsibly sourced as defined by reference to the OECD Due Diligence Guidance (DDG) for Minerals from Conflict-Affected and High Risk Areas.
Signet Responsible Sourcing
Protocol for Diamonds
(D-SRSP)
• Overview
• Summary
• Categories
• Working Towards Compliance
• Annual 3TG and Diamond SRSP Compliance
Reporting Timeline
• SRSPs Development Timeline
Overview: Signet Responsible Sourcing Protocol for
Diamonds (D-SRSP)
• The D-SRSP was developed in a process of collaborative research with
40 diamond suppliers, as well as industry associations, NGOs and
governments.
• The objective of the D-SRSP is to ensure all Signet jewelry materials
are responsibly sourced.
• Based on the application of due diligence by suppliers to identify and
minimize supply chain risks, using the OECD DDG Five Step
Framework* (same as 3TG-SRSPs) covering labor practices, human
rights and responsible sourcing.
• Applies to all diamonds supplied to Signet including loose, rough and
polished diamonds, and diamonds set into finished jewelry.
* www.oecd.org/corporate/mne/GuidanceEdition2.pdf
The D-SRSP establishes 4 categories of diamonds, covering all types of diamond supply:
• Parcels of diamonds supplied by or sourced from identified and verified diamond
producers such as DeBeers, ALROSA, Rio Tinto or Dominion, not individually
tracked but verified to have derived from all or any of these producers.
Category 2
Parcel Tracking
• Individual diamonds supplied by or sourced from identified and verified diamond producers such as DeBeers, ALROSA, Rio Tinto or Dominion.
Category 1
Single Stone
Tracking
tracked but verified to have derived from all or any of these producers.
• This category allows for the mixing of diamonds deriving from a number of different sources, with some percentage of the diamonds deriving from identified and verified sources.
• This category applies to diamonds which derive from a producer country or particular mine, originally sourced from other than DeBeers, ALROSA, Rio Tinto or Dominion.
Tracking
Category 3
Mixed Sources
Category 4
Other Identified &
Verified Sources
How To Work
Towards D-SRSP
Compliance
Annual 3TG and Diamond SRSP Compliance Reporting Timeline
Timeline of SRSP Development
OECD Due Diligence Guidance – Applicable to All Minerals
CSR and Responsible Sourcing
CSR and Responsible Sourcing
The Responsible Jewellery
Council
• Membership Expectation
RJC Provenance Claims and Harmonization with SRSPs
• The Provenance Claim provision in the RJC Code of Practices enables Members that make
Provenance Claims to have these claims audited as part of their RJC Code of Practices
Certification.
• RJC does not require Members to make Provenance Claims so this is voluntary.
• Compliance to Signet’s diamonds and gold SRSPs are an example of a relevant “Provenance
Claim”.
• If a Signet supplier is a certified RJC Member which includes a Provenance Claim that directly • If a Signet supplier is a certified RJC Member which includes a Provenance Claim that directly
references the SRSPs in their RJC Certification, the RJC Certification will suffice for future
Signet audit purposes, for SRSPs and factory/social audits (i.e., no need to do subsequent
Signet audits).
• RJC certification audits are valid for 3 years.
• The cost saving from not having to do the Signet audit(s) will often cover the annual RJC
membership costs.
• We recommend that once compliant with the SRSPs, Signet suppliers add them as Provenance
Claims to RJC Certification – this can be a “bolt-on” to existing certification.
Thank You!Thank You!David A. Bouffard
Signet Vice President
Signet Corporate Affairs
Signet Jewelers Ltd.
davidb@jewels.com
330.668.5369 | 375 Ghent Road
330.665.7944 | Akron, OH 44333
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