2023 Annual Sustainability Report Statement
During early 2023, The Samuel B Collection began a process of embedding sustainable and responsible business practices into its day-to-day operations. As a member of the Responsible Jewelry Council (RJC), The Samuel B is committed to implementation of the Code of Practices (COP) standard and as such we have developed a range of policies and procedures to ensure our ongoing compliance with its requirements.
We are also committed to developing and nurturing strong relationships with suppliers and other business partners to promote responsible business practices throughout our supply chain. This includes taking steps to identify and, where applicable, mitigate negative social and environmental impacts with a particular focus on addressing issues related to human rights, child labor and forced labor.
To achieve this, we carry out due diligence on all of our suppliers in alignment with the UN Guiding Principles on Business and Human Rights and the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas (OECD Guidance). In 2023 we took the following initial steps on this journey:
o Adopted a supply chain policy in alignment with the OECD Guidance which is available on our website.
o Developed internal control systems and processes for collecting and recording information on the origin of jewellery materials supplied to us and, where available, information relating to due diligence carried out by suppliers.
o Reached out to all of our suppliers to communicate to request information (covering suppliers we have sourced from in the previous 24-month period).
o Developed a system for identifying risks in our supply chain and ´red-flag locations’.
To understand the potential and/or actual human rights risks that might be present in our upstream supply chain, we asked all of our suppliers to complete a survey questionnaire. This questionnaire asked suppliers to provide information on their legal compliance, labor practices, controls to manage child and forced labor risks, how they manage their impacts to the environment, the controls they have in place to ensure adequate workplace health & safety and the due diligence processes they have in place to address risks related to minerals originating from Conflict-Affected and High-Risk Areas (CAHRAs).
We did not identify any serious risks associated with the labor practices of our suppliers and our due diligence did not identify any CAHRAs in our emerald, sapphire or ruby supply chains.
We will continue to work with our supply chain throughout 2023 to build on these efforts which will include, where applicable, steps to appropriately manage identified risks in alignment with our policies and the requirements of the RJC Code of Practices standard.
We also completed an internal human rights risk assessment of our own labor practices, and how we treat our employees. This assessment encompassed key aspects of our business, including employee terms and conditions, working hours, disciplinary and grievance procedures, health and safety measures, and more. Through this evaluation, we were able to identify several areas where we can enhance our internal systems, policies, and procedures, thus reinforcing our commitment to promoting a fair and supportive work environment.
In addition, we have established processes and controls to effectively manage and mitigate the environmental impacts stemming from our direct business operations. These initiatives encompass a range of actions, including waste reduction measures, enhanced paper recycling practices, and the implementation of energy efficiency measures. By pursuing these strategies, we aim to reduce our environmental footprint and contribute to a more sustainable future. Looking ahead, we remain committed to further enhancing our environmental performance. We will actively seek out new opportunities and innovative approaches to bolster our sustainability efforts, striving to minimize our environmental impact.