Tiffany & Co. understands that the sourcing of raw precious metals and gemstones, and the social and environmental impact of mining, is both our greatest challenge and opportunity for impact. For that reason, Tiffany has long aimed to address the most pressing issues facing the mining sector. We believe that due diligence and transparency is critical, and that by supporting rigorous, standards-setting efforts and by advocating for more effective oversight, we can help improve global mining conditions over the long term.
As such, Tiffany & Co. strongly supports the promotion of responsible supply chains that are free of conflict, which is the intent of Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the corresponding Securities and Exchange Commission’s Conflict Minerals Rule.
When managed responsibly, mining can be a source of social and economic development. The situation in the Democratic Republic of Congo (DRC) and its adjoining countries represents both the challenge and the promise of mining, and we are committed to contributing to solutions in the region. We aim to achieve this both through our own voluntary initiatives including a Conflict Minerals Policy adopted by the Tiffany & Co. Board of Directors, and by continuing to conduct conflict minerals diligence and to publicly report on sustainability.
While we intend to maintain the guiding principles of our Conflict Minerals Policy regardless of regulation, we firmly believe that the continued existence of Federal regulation that addresses the sourcing of conflict minerals provides an important framework for industry, laying the foundation for protection of human rights and responsible sourcing efforts in the DRC and beyond.
We urge Congress to support legislation that effectively promotes due diligence and transparency for the sourcing of all conflict metals and gemstones.
As an industry leader, we are devoted to better understanding our social, economic and environmental impact, so that we can work to create a positive influence along the supply chain, all the way from the mine to our customers.
Tiffany is the internationally renowned jeweler founded in New York in 1837. Through its subsidiaries, Tiffany & Co. manufactures products and operates TIFFANY & CO. retail stores worldwide, and also engages in direct selling through Internet, catalog and business gift operations. For additional information, please visit Tiffany.com.