Tiffany & Co. Becomes the First Luxury Jeweler to Receive SBTi Approval on Net-Zero Emissions Target
American heritage jewelry house Tiffany & Co has officially become the first ever luxury jeweler to receive approval from the Science Based Targets initiative on its net-zero emissions target. Tiffany & Co first announced their targets and environmental goals in 2022,
And they are now on target to reach net-zero emissions by 2040, meeting the urgent need to keep warming to 1.5 degrees Celsius, a goal in line with the Paris Agreement, a global agreement to avoid dangerous climate change, signed by countries all over the world.
Alongside the 2040 targets, Tiffany has set out targets for 2030, a near-term target that will help propel the House to its 2040 goal. Tiffany & Co already achieved their emission reduction goal for 2022, a sure sign that they are well on their way to their future goals. Alongside the emission reduction goal, Tiffany & Co has also pledged to move toward sourcing 100% of precious metals, including gold, silver, and platinum, from recycled sources.
Other goals include utilizing 100% renewable electricity by 2030 and investing in other energy-efficient initiatives. The brand recently installed on-site solar at five locations across the globe and two office and distribution facilities. They plan on expanding with more solar installations coming to its famous diamond polishing facility in Botswana and jewelry manufacturing site in Lexington, Kentucky.
Tiffany & Co’s new Landmark opening was a significant moment for the brand, with celebrities and important industry figures all in attendance at the opening event to celebrate the brand and its legacy. What many may not have realized at the time is that the building itself is on track to receive both WELL Platinum certification and Leadership in Energy and Environmental Design, better known as LEED, Gold Certification.
Additionally, Tiffany & Co is investing even more in nature-based solutions and prioritizing projects that protect and restore natural ecosystems and empower local communities. The brand is also working on partnering with sustainable service and delivery company TOSHI in London and New York with more cities to come. TOSHI offers client-scheduled deliveries for online orders and completes all deliveries with net-zero carbon emissions.
The new targets are certainly ambitious but Tiffany is working hard to decarbonize its entire value chain, planning on focusing on swift emission cuts according to climate science and industry best practices.
Setting a high standard, we can’t wait to see how Tiffany & Co’s admirable environmental and sustainability efforts make an impact in the industry at large.
