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United Nations Global Compact -
Communication on Progress 2012

In 2011, Tiffany & Co. joined the United Nations Global Compact. The UN Global Compact is a strategic policy initiative for businesses committed to aligning their operations and strategies with ten principles in the areas of human rights, labor, environment and anti-corruption. The table below shows how we are communicating on progress for the Ten Principles. For further information on the UN Global Compact, please see http://www.unglobalcompact.org.

Human Rights

Global Compact Principles Communication on Progress
Principle
1
Businesses should support and respect the protection of internationally proclaimed human rights.
Tiffany adheres to key policies and procedures in order to safeguard human rights within the Company and throughout our supply chain. These policies and procedures are detailed on the Governance page of this website. Within the Company, we welcome diversity and strive to offer all employees an equitable and respectful working environment (see Beneficiation and Our Employees). The Company’s Social Accountability Program (see Supplier Responsibility) rigorously evaluates vendors, ensuring the protection of human rights in our supply chain. Beyond these spheres of influence, Tiffany & Co. is committed to protecting human rights throughout the industry and seeks to advance the highest standards in responsible mining (see Industry Leadership).
Principle
2
Businesses should make sure they are not complicit in human rights abuses.

Labor Standards

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Global Compact Principles Communication on Progress
Principle
3
Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining.
Tiffany recognizes and respects the importance of stringent labor standards to protect workers worldwide. The Tiffany & Co. Internal Audit Department provides oversight and guidance to ensure compliance with applicable laws and regulations to foster a positive and ethical work environment for Company employees (see Governance and Our Employees). The Company’s Social Accountability Program carefully monitors vendor performance in relation to labor standards, specifically evaluating freedom of association and collective bargaining, forced labor, child labor and discrimination (see Supplier Responsibility). Additionally, Tiffany & Co. supports the strengthening of industry-wide labor standards beyond our immediate operations (see Industry Leadership).
Principle
4
Businesses should uphold the elimination of all forms of forced and compulsory labor.
Principle
5
Businesses should uphold the effective abolition of child labor.
Principle
6
Businesses should uphold the elimination of discrimination in respect of employment and occupation.

Environment

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Global Compact Principles Communication on Progress
Principle
7
Businesses should support a precautionary approach to environmental challenges.
Tiffany & Co. draws on the natural world for both design inspiration and the precious materials used in our products. At the Company’s core is a commitment to preserve, protect and responsibly manage the environment on which we rely for our long-term success. The Company promotes environmental responsibility by leveraging the Tiffany brand. For example, the Company plays a leadership role in industry-wide collaborative efforts to prevent environmental damage across the supply chain (see Industry Leadership), raises awareness of risks associated with mining in ecologically-sensitive areas (see Preservation) and sources from mines which uphold high standards of environmental performance (see Responsible Mining). These efforts are strengthened by the Foundation’s support of scientific research, conservation and multistakeholder collaboration to promote the most environmentally-responsible standards in mining operations (see The Tiffany & Co. Foundation). In addition to addressing the impacts of mining, we are continuously looking to reduce our environmental footprint in other ways, from using recycled content and FSC-certified sources for our bags and boxes to reducing our greenhouse gas emissions (see Paper & Packaging and Building Footprint).
Principle
8
Businesses should undertake initiatives to promote greater environmental responsibility.
Principle
9
Businesses should encourage the development and diffusion of environmentally friendly technologies.

Anti-Corruption

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Global Compact Principle Communication on Progress
Principle
10
Businesses should work against corruption in all its forms, including extortion and bribery.
The Tiffany & Co. Business Conduct Policy sets forth expectations of Tiffany employees, including compliance with all relevant laws and regulations. This policy prohibits payment of bribes or the acceptance of payments or other inappropriate gifts. All employees are required to review the policy upon hire and thereafter on an annual basis to make sure that they understand these standards (see Governance). Within our supply chain, Tiffany & Co. requires vendors to annually review the Vendor Code of Conduct, which outlines expectations for ethical conduct and compliance with all applicable laws (see Supplier Responsibility).