The Signet Responsible Sourcing Protocols
In 2018, the Signet Responsible Sourcing Protocols (SRSPs) and our Supplier Code of Conduct will include requirements for all suppliers to respect Human Rights and observe the United Nations Guiding Principles on Business and Human Rights.
Suppliers must have a policy commitment to Human Rights, including a verifiable due diligence process that identifies, prevents and mitigates risks relating to Human Rights. Suppliers will be required to verify that their own suppliers respect these requirements.
To support our Supplier Code of Conduct, our SRSPs and our commitment to respecting and protecting Human Rights, manufacturing sites of significant jewelry suppliers that have not been included in a recent RJC certification are required to undergo social audits conducted by an independent, accredited auditor. Any non-conformances are addressed by the same independent auditor. Failure to reach the desired improvements results in termination of business.
All our suppliers are required to report annually to ensure that we only source our raw materials responsibly in accordance with the SRSPs. Reports are subject to third-party auditing, either directly by Signet’s accredited auditors or through the supplier’s certification audit, including compliance with the SRSPs by the RJC. All suppliers must address all non-conformances in these audits before continuing business with Signet.
The SRSPs enable Signet to ensure that all supplies of these minerals are responsibly sourced, in conformance with international standards, such as the OECD Due Diligence Guidance and the London Bullion Market Association’s Responsible Standard.
These standards operate at key points in the supply chain (for example, for gold at refineries). As a result, when a Customer purchases jewelry from a Signet banner, they can be assured that our jewelry has been responsibly sourced.
The Signet Responsible Sourcing Protocol For Diamonds
The Signet Responsible Sourcing Protocol for Diamonds (D-SRSP) became compulsory for all Signet diamond suppliers in 2017. The D-SRSP requires suppliers to apply a due diligence process to their diamond supply chains and to ensure that all diamonds come from an identified and verified source. A key aim of the D-SRSP is to increase the transparency of our diamond supply chain over time, via a process of continuous improvement. Among other important benefits, this ensures that our diamonds are never associated with conflict or human rights abuses of any kind. The results of this initial reporting period will be used to establish a baseline from which all Signet diamond suppliers are expected to demonstrate improvement.