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Executive Summary

Corporate responsibility is integrated into every aspect of Tiffany & Co. Our commitment to sustainability is embedded in our promise to our customers and embodied by our employees, delivering excellence for over 175 years.

Through our business practices and collaborative efforts, we strive to positively influence the entire jewelry supply chain. Tiffany & Co. continuously works to promote responsible mining standards and increase awareness about issues affecting our industry, such as bringing to light the environmental concerns around the development of the proposed Pebble Mine in Bristol Bay, Alaska.

Our 2012 Corporate Responsibility Report provides an overview of our most material environmental and social challenges and opportunities. We are proud of our accomplishments and will continue to share our efforts and progress.

Below are highlights of our 2012 Corporate Responsibility Report, which aligns with the Global Reporting Initiative (GRI) and United Nations Global Compact reporting frameworks.

Please read our full report for further details about our 2012 corporate responsibility performance, our positions on timely issues affecting our industry and our long history of commitment to sustainability.


Program Highlight
Responsible Mining Tiffany & Co. strives to source diamonds, gemstones and precious metals from mines that conform to high standards of social and environmental responsibility. We source metals and diamonds used in Tiffany & Co. owned and operated manufacturing facilities directly from known mines when possible. Tiffany & Co. manufactures approximately 60% of its merchandise at these manufacturing facilities.

Tiffany & Co. purchases all rough diamonds from countries that participate in the Kimberley Process Certification Scheme. Further, Tiffany & Co. traced 100%* of the rough diamonds purchased in 2012 either directly to a known mine or to a supplier that sources from multiple known mines.

Over the last few years, Tiffany & Co. has financed diamond mines to assure access to high-quality diamonds. Specifically, we finance projects in Sierra Leone and South Africa, which allows us access to a new supply of diamonds that meet Tiffany & Co. standards and allows for increased traceability.

In 2012, Tiffany & Co. traced 98%* of raw precious metals procured by Tiffany & Co. owned and operated manufacturing facilities directly to a known mine or recycler.
Paper & Packaging In 2012, 100%* of paper suppliers of Tiffany Blue bags and Tiffany Blue Boxes were Forest Stewardship Council™ (FSC®)-certified.

We recently introduced a new Tiffany Blue bag, with 50% post-consumer recycled content in selected cities in the United States. Based on the success of this program, we plan to roll out these new bags in additional cities in the U.S. and abroad.
Industry Leadership Tiffany & Co. was added to the FTSE4Good® Index in 2012 which identifies businesses that meet globally recognized corporate social responsibility standards.
Governance Tiffany & Co. performed our first annual disclosure in accordance with the Tiffany & Co. Principles Governing Corporate Political Spending, adopted by the Board of Directors in 2011. These principles apply globally to Tiffany & Co. and our controlled affiliates.

Tiffany & Co. has received Responsible Jewellery Council (RJC) Member Certification for our global operations for 2011-2014, demonstrating that we operate in conformity with the RJC Principles and Code of Practices.

Employees globally performed their annual review of the Tiffany & Co. Business Conduct Policy, which sets forth expectations of Tiffany employees including compliance with all relevant laws and regulations.
Building Footprint Tiffany & Co. received the United States Environmental Protection Agency’s Excellence in Greenhouse Gas Management (Goal Achievement Award) for surpassing our goal to reduce our U.S. Scope 1 and 2 greenhouse gas emissions by 10% per square foot from 2006 to 2011.

Between 2010 and 2012, the Tiffany & Co. New York affiliate’s headquarters were consolidated into a LEED-CI Platinum office space, reducing emissions by 23%.
Our Employees Tiffany performs periodic surveys of our global employee population. The 2012 Global Employee Survey had a 90% participation rate.

The total recordable incidence rate—the number of recordable workplace injuries or illnesses per 100 full-time equivalent employees—in 2012 for our U.S. facilities was 2.17*, which represents a 31.5% reduction from 3.17 in 2011.
Charitable Giving In 2012, Tiffany & Co. made charitable contributions totaling nearly 1% of pre-tax earnings.

*Metric included in the Report of Independent Accountants