2Sustain

Tiffany & Co. has launched its first annual web-based Corporate Responsibility Report.

Developed in accordance with the Global Reporting Initiative’s voluntary sustainability reporting framework, the online report includes highlights regarding environmental and social performance, and also provides intriguing insight into the jewelry giant’s standards and operations for the sourcing of precious materials.

For example, Tiffany says that:

• In order to minimize environmental and social risks, gold, silver and platinum used in its workshops are sourced from responsibly mined metal deposits and recycled sources in the US.
• The company has implemented a multiphase assessment process of its supply chain. Accordingly:
  • Vendors are required, when applicable, to complete a self-assessment of their performance against the Tiffany Vendor Code of Conduct.
  • Tiffany performs internal audits of its vendors.
  • Tiffany contracts with a third-party social responsibility auditing firm to provide audits on its suppliers.

In addition: (more…)

GE has released its seventh annual Citizenship Report, titled Sustainable Growth.

The 57-page document includes:

• An analysis tracing the source of GE’s long-term value creation through the lens of good citizenship, by identifying global challenges, GE’s expertise and contribution and the relationship to value creation.
• Expert perspectives from more than 20 global thought leaders on key issues, on topics such as climate change, human rights, labor and supply chain.
• A ten-year retrospective, drawing on perspectives from the expert panel, reflecting upon the evolution of citizenship as well as opportunities for the future.
• List of key challenges and GE’s value to address the challenges. The GE Priority Matrix is introduced to highlight the areas where GE can have an impact, through its products and services or its business operations.
• Perspectives of GE CEO Immelt, Board Member Nunn, Senior Vice President and General Counsel Brackett Denniston and Vice President of Corporate Citizenship Bob Corcoran.
• A new redesigned and re-launched website www.gecitizenship.com, with more interactive, user-friendly navigation and narratives. (more…)

I received a few interesting responses to my last blog posting so I thought it may be fun to keep the dialogue going. The comments I received are pretty consistent with what I hear from many friends and colleagues here in the Bay Area – namely that companies need to be regulated in order to really take progressive, proactive action on social, environmental and labor issues. In particular, I believe most folks feel that companies need regulation to take meaningful action on global warming via hard-hitting new regulation on energy usage and GHG emissions reduction. While I think there is some truth to the fact that companies do need to be “motivated” by regulation (a.k.a. the “cattle prod approach”), I also see companies taking proactive steps independent of regulations, and I think that this should be acknowledged. I also think that such proactive steps if/when taken for the right reasons represent our best shot at truly meaningful, lasting, long-term change.

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