In accordance with Section 1502 of USA’s Dodd-Frank Act, Signet Jewelers Limited recently submitted its fourth Conflict Minerals Report to the SEC.  

“Signet was one of only four companies to have its Gold “Conflict-Free” filing with the SEC independently audited in line with the Section 1502 requirements in 2014, 2015 and 2016,” the Company announced. “Now, Signet has extended its “Conflict-Free” reporting under Section 1502 for a fourth consecutive year.”

Believing as it does that “a responsible, conflict-free supply chain” is the foundation upon which the reputation of the jewellery industry is based, Signet is committed to continuing its longstanding efforts “to advance responsible sourcing throughout the global jewellery industry supply chain”, the retailer stressed.

Together with its efforts to source conflict free gold, Signet also aims “to lead the continuous improvement in the integrity of the global jewellery supply chain”.

The Company has several achievements under its belt towards this goal.

It is one of the founding members of the OECD’s Multi-Stakeholder Group which developed the “Due Diligence Guidance for Responsible Supply Chains on Minerals from Conflict Affected and High-Risk Areas”. Signet has also been working for the “further development and implementation” of this Guidance. It is also a member of OECD’s expert working group developing the OECD Minerals Handbook covering guidance for all minerals.

“Signet has collaboratively developed and launched the “open source” Signet Responsible Sourcing Protocols for Gold, 3Ts, Diamonds, Silver and Platinum Group Metals,” the Company noted. It is   also actively developing a Protocol for Coloured Gemstones, thereby covering all of the main materials used in the fine jewellry industry.

The Company has instituted a process of on-going dialogue and collaboration within the jewellery industry, governments, civil society, and other organisations. This has helped create a consistency and harmonisation of responsible sourcing standards for the jewellery industry and beyond, Signet believes.

“Signet is the first major non-electronics industry company to be a member and support development of the Conflict Free Sourcing Initiative,” the retailer announced proudly.

As a Founding and Certified Member of the Responsible Jewellery Council (RJC) Signet has been able to encourage all its suppliers to become RJC members as well. “The total number of Signet Suppliers who are RJC members has more than quintupled since 2014,” the Company noted. Further, the aligning of industry standards with its own Protocols has resulted in a more efficient and consistent verification of responsible sourcing standards across the jewellery industry, Signet feels.

“Signet believes that Section 1502 has been a global driving force in the supply chains of 3TG to establish and maintain responsible, conflict-free supply chain,” the Company said. “Signet acknowledges that Section 1502 has had some unintended consequences leading some industry participants to avoid minerals from the DRC and neighbouring countries. However, Signet believes that this can be corrected by amending Section 1502 to align with the OECD’s Due Diligence Guidance, whereby US companies are required to undertake and report on due diligence in their supply chains in accordance with the OECD Guidance. Thus, supplies from these “covered countries” can be sourced providing they are verified and certified as “conflict-free”.”