The Tiffany & Co. Corporate Responsibility Report is based on our performance for Fiscal Year 2011 (February 1, 2011–January 31, 2012). This online report is our second annual Corporate Responsibility Report, and we plan to report on our progress annually.
Our goal is to be open, transparent and honest in our reporting and to continuously improve our reporting over time. Tiffany & Co. reports on the corporate responsibility aspects of our business that we deem material to our business and our stakeholders. In 2009, Tiffany & Co. conducted a materiality analysis with assistance from BSR and input from nongovernmental organizations. Tiffany & Co. performs an annual review of this analysis. The framework for the materiality analysis includes a review of business risks and opportunities, priorities, industry benchmarks, CSR leader benchmarks, comparison with leading reporting frameworks and stakeholder engagement.
The content of this website was derived in accordance with the Global Reporting Initiative (GRI) G3.1 framework and the United Nations Global Compact.
Tiffany & Co. has chosen to voluntarily report on our corporate responsibility performance. Tiffany & Co. has designed processes to collect and/or estimate, assess and report on this data. Tiffany & Co. Management is responsible for the completeness, accuracy and validity of the information contained in the 2011 Corporate Responsibility Report (website). We engaged PricewaterhouseCoopers LLP (PwC), our independent registered public accounting firm, to review and report on select sustainability metrics set forth in this report. The individual metrics that PwC has assured are marked with an asterisk (*) on our Definition of Metrics page and can be found in the Report of Independent Accountants. PricewaterhouseCoopers LLP’s Report of Independent Accountants on these assertions is included herein. As we continuously improve our reporting processes, we plan to expand the scope of metrics assured.
All of the consolidation and calculation rules are defined in the Fiscal Year 2011 Tiffany & Co. Corporate Responsibility Metric Collection Criteria Document (Criteria Document), which is updated annually. The Criteria Document provides global guidance on the data and information collected, including definitions, scope, units of measure, reporting period, calculation methodology and potential information sources. Corporate responsibility data can be measured using various measurement techniques. The selection of different but acceptable measurement criteria can result in materially different measurements. Standardized calculations have been used to convert units of measure where appropriate. A summary of the information in the Criteria Document can be found on the Definition of Metrics page of this website for metrics included within this report. The report covers Tiffany & Co. and its subsidiary operations, unless otherwise specified. Data was collected from all Tiffany & Co. global locations including retail stores, offices and manufacturing, distribution and warehousing locations. Source data used in the calculation of metrics is obtained from direct measurements, third-party invoices or industry and geographic specific estimates.