Luxury jeweler Tiffany & Co. recently released its sixth annual Sustainability Report, which outlines the company’s commitments to and achievements in corporate social responsibility.
The 2015 Sustainability Report provides an overview of the company’s efforts around its commitment to the environment, social issues and contributions to the communities in which it operates across more than 30 countries.
Highlights of the report include the company setting a new target to achieve net-zero greenhouse gas emissions by the year 2050 as part of the non-profit coalition of business leaders and the announcement of a multi-million dollar internal Green Fund dedicated to global energy efficiency, renewable energy and other projects that generate cost, carbon and resource savings.
The company has also supported the creation of Marine Protected Areas through the Tiffany & Co. Foundation, now totalling 14, which since 2014 protect more than 4 million square kilometers of ocean – an area twice the size of Mexico. Tiffany appointed Anisa Kamadoli Costa as its first chief sustainability officer, to set the strategic sustainability agenda.
The company now runs more than 100 stores that have energy efficient LED lighting. It has committed to remove commodity-driven deforestation from key supply chains by 2020, consulting with the Rainforest Alliance and focusing on consumer packaging including Tiffany Blue Boxes and bags, as well as catalogs and products. Tiffany has also joined the US World Wildlife Trafficking Alliance to encourage the jewelry industry to eliminate the use of illicit products such as coral and ivory from its supply chains.
“Of the many reasons to take pride in Tiffany, none is more important than our long-held commitment to the environment and its people,” said Tiffany & Co CEO Frederic Cumenal. “World-class leadership in sustainability among great luxury brands is rooted in a humble understanding of our impact on, and thus responsibility to, the world.”