Tiffany’s the clear choice when it comes to diamonds
How Tiffany & Co.’s sustainability and transparency initiatives are shaping the future of the diamond industry.
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Those shopping for diamond jewellery tend to fall into two categories. There are those who know exactly what they want, and there are those who don’t even know where to get started. But for both groups, the search for the right diamond ring should go beyond the so-called ‘4Cs’ of diamond jewellery – cut, clarity, colour and carat. There are a couple of other important values that everyone should consider: sustainability and responsibility.
While many companies are quick to tout their green credentials, for Tiffany, sustainability is part of the company philosophy that governs every aspect of how they do business. The fact is, when you’re investing in something as special as a diamond ring, you want to ensure its lasting impact is a positive one.
Tiffany is also a world-leader in the responsible sourcing of diamonds, giving you, the customer, full transparency at every stage of the process – from the mine, to Tiffany’s workshops and onto the boutique itself.
It’s all part of Tiffany’s commitment to not only avoid damaging our planet, but to leave it in a better place than they found it. Here’s how they are making a real difference.
The science is in: the climate crisis is accelerating, and if we are going to work to reverse it, we need to act now. That’s why, for Tiffany, sustainability is far from just another marketing fad; they’ve made it the foundation of the way they operate.
This commitment goes back at least 25 years, when Tiffany opposed the expansion of a gold mine that threatened America’s cherished Yellowstone Park. In the years since, Tiffany has been active in environmental causes, from supporting initiatives that have helped restore the environments around abandoned mines, rehabilitate areas in Alaska that have been threatened by historical mining sites, and awarding tens of millions of dollars in grants to ocean and marine conservation.
“Sustainability lies at the heart of the Tiffany & Co. brand – it’s both our legacy and our future,” CEO Alessandro Bogliolo has said. “Tiffany’s promise to the world is to protect its beauty, nurture its people and conduct our business with care.”
But Tiffany is not just looking to places as far-flung as Botswana, Russia, Namibia, Canada and South Africa – where they source only the finest rough-cut diamonds – they’re doing it inside the business, too. More than simply cutting carbon emissions, Tiffany has reduced overall energy use, by implementing a series of strict measures to achieve their environmental targets. Over 80 per cent of the company’s energy now comes from clean, efficient sources – including purchased renewable energy and solar energy generated by Tiffany itself. Tiffany is also committed to reach net-zero greenhouse emissions, worldwide, by 2050. Even as the business continued to expand, Tiffany reduced its emissions per square foot by 10 per cent between 2013-2018.
As with any business, some energy use is unavoidable. That’s why Tiffany has off-set any emissions they have been unable to cut, with a range of global measures, including investment in a major forest conservation and sustainable development initiative in Kenya’s Chyulu Hills.
But Tiffany’s commitment to creating a better world is not just about external efforts. It begins with the diamonds themselves. Let’s give you an example. Tiffany is not only one of the major supporters of the Kimberley Process, outlawing “conflict diamonds”, but has gone even further, pushing for the regulations to be expanded into areas of human rights and the environment.
Tiffany was the founding member of the Initiative For Responsible Mining Assurance (IRMA), and was a driving force behind the creation of the 2018 Standard for Responsible Mining. Today, the company sources 100 per cent of its rough diamonds, directly from either responsibly managed mines or from responsible suppliers.
Tiffany believes in transparency – and we’re not just talking about the clarity of the diamonds themselves. Last year, the company announced it would be sharing the provenance of all its newly sourced diamonds with customers, through its Diamond Source Initiative. All of Tiffany’s diamonds above 0.18 carats will be registered with a unique “T&Co” serial number, etched by laser and otherwise invisible to the eye. Because it’s one thing for a company to tell customers their diamonds are “conflict free” – it’s another to show them it’s true, by providing geographic sourcing information about their specific diamond.
From later this year, Tiffany will go even further, adding information about your diamond’s full craftsmanship journey. So next time you buy a Tiffany diamond ring, you’ll be able to find out not only where it originated, but which cutting or polishing workshop it was refined at before it made its way to your Tiffany boutique. As for any diamonds whose provenance is in question or unable to be determined, Tiffany doesn’t use them. It’s as simple as that.
They have achieved these rigorous standards of responsibility and sustainability, while insisting on only the highest quality standards for their diamond jewellery. For all the diamonds that are pulled out of the ground each year, just 0.4 per cent of them ever make it into the hands of Tiffany’s 1500 expert cutters and polishers. And because they operate their own workshops, Tiffany can ensure the highest standards for its diamond jewellery are met, throughout the process – from the ground, to their boutiques and onto you.
Employees may be one of the most crucial elements in any business, but they’re often also one of the most often overlooked. But Tiffany recognises that building a celebrated brand with more than 180 years of heritage is down to the people who work there. The company is committed to safe and healthy work environments in each of its five workshops around the world, adhering to standards that go well beyond the local guidelines. Tiffany is also committed to speaking out against human rights abuses in the areas it operates and is helping to create real change not just for current employees, but for whole populations, in the countries in which it operates.
Last year, Tiffany also strengthened its living wage program to ensure regular full-time employees at its manufacturing facilities – whether skilled or unskilled – have the opportunity to earn a living wage. It’s a commitment not just to you, but to the people who have helped make Tiffany the world’s finest supplier of diamond jewellery, since it first launched back in 1837. It’s an approach that has not only helped build the brand’s heritage, but will ensure its future, too.
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Like anything, making the right decision about sustainable, ethical diamond jewellery starts with getting the facts. For more information on Tiffany’s sustainability initiatives and to see their full collection of sustainable and responsibly sourced diamond rings , head to tiffany.com.au
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