Global luxury jeweller Tiffany & Co. has announced its commitment to achieve net zero greenhouse gas emissions by 2040 in line with the Science-Based Targets initiative (SBTi).
That includes emissions reductions across its own operations – i.e. Scope 1 and 2 emissions – as well as its supply chain, i.e. Scope 3 emissions.
By 2030, the company has pledged to reduce emissions from its own operations, such as stores, distribution centres, manufacturing and offices, by 70%.
In addition, it has committed to slash emissions generated in its supply chain by 40% during the same period.
Its net zero commitment will be supported by various initiatives, including moving towards sourcing 100% of precious materials – gold, silver and platinum – from known recycled sources and constructing and retrofitting more sustainable buildings, with all key new construction, expansion and renovations being designed for LEED Silver certification and above.
It also plans to invest in sustainable transport and energy efficiency initiatives and aims to use 100% renewable electricity by 2030.
The company said in a statement: “Tiffany & Co. believes that a net zero emissions future is not only possible—it is an urgent priority. Beyond these ongoing efforts, the House will continue to advocate for responsible climate action throughout its supply chain and the broader jewellery industry.”