Signet’s commitment to responsible sourcing is not possible without the support of our suppliers. Ensuring the integrity of our supply chain is achieved through collaborative engagement. We are proud to be working with suppliers that are RJC Certified Members, committed to sustainability and to ensuring that our raw materials are responsibly sourced. Some examples of our suppliers’ corporate social responsibility are outlined below.*
A World Leader in Responsible Diamond Mining
With a 30% share in the global production of rough diamonds, ALROSA recognizes its responsibility to the community and the environment.
The company has approximately 38,000 employees that earn three times the average Russian salary and ensures safe working conditions and compliance with environmental standards of operation. In 2016, ALROSA allocated more than $180 million, or about 3% of its revenue, to community investments. $100 million was spent on environmental projects. Furthermore, the company annually pays more than $1 billion in taxes and dividends to Yakutia, accounting for almost 40% of the regional budget.
Journey to Carbon-Neutral Mining
In 2017, De Beers Group announced a ground-breaking research project to deliver carbon-neutral mining at a number of its operations in as little as five to 10 years. Through its studies, the company has found that kimberlite tailings at diamond mines offer the ideal properties for storing carbon dioxide through a process known as ‘mineral carbonation’.
The project aims to accelerate this natural and safe process, with estimates suggesting that the carbon storage potential of kimberlite tailings produced by a diamond mine every year could offset up to 10 times the emissions of a typical mine.
De Beers Group is already conducting studies at its Venetia mine in South Africa and Gahcho Kué mine in Canada. Further research across its other mines will continue in 2018.
Ethics, Passion and Compassion
As a wholly owned subsidiary of Berkshire Hathaway, Richline is held to the highest ethical standards of the firm’s Code of Ethical Practices. Richline Group, through our Richline Responsible initiative, has established a social conscience of ethics, passion and compassion. Richline Responsible creates and supports a convergence of business and social values. It’s a commitment to minimizing the impact our operations have on the world around us. It means taking care of the health and well-being of our associates. And, it’s a dedication to helping and guiding our full community of stakeholders to thrive.
The Richline Responsible criteria advocate that “Truly sustainable business models are linked to fundamental human values — an ideal of improving people’s lives.” The Richline Responsible Oath reflects our shared values and commitment to the broadest definition of sustainability. The oath recognizes “Richline must serve the greater good by bringing together people and resources to create economic value with a world-conscious accountability.” The Richline Group Code of Conduct clearly delineates all details of the rights and responsibilities of all Richline associates, vendors and stakeholders.
Rio Tinto: Beauty with Integrity
As the world’s largest producer of natural colored diamonds and a major gem diamond producer, Rio Tinto aims for a high benchmark when it comes to operating in an ethical and sustainable way. Rio Tinto’s operating model is not just focused on the integrity of its diamond mining practices in Australia and Canada, but also support for its partners across the whole diamond and jewelry supply chain. Rio Tinto wants the consumer to be confident that the journey their diamond takes from the mine to the market, is a worthy one; that landscapes and cultures are treated respectfully; that local communities around their mines prosper; that safe and fair working conditions are provided for employees; and that industry partners are dealt with honestly and fairly.
*This content is from the named suppliers. Signet did not help prepare, nor did it have any involvement on these statements.