Signet Jewelers – Kimberly Ludena Acevedo – 2024

Summary

Kimberly Ludena modeled Scope 3 emissions and revised the Environmental and Social Questionnaire at Signet Jewelers.

Goals

As the world’s largest diamond jewelry retailer, Signet Jewelers’ commitment to sustainability is reflected in its Corporate Sustainability Goals, which include establishing a plan to decarbonize its operations. Signet enlisted Kimberly to measure its Scope 3 emissions using methodologies consistent with the GHG Protocol and recommend reduction strategies. Kimberly also assessed the company’s Environmental and Social Questionnaire, which is part of the Signet Responsible Sourcing Protocol, to improve supplier engagement.

Solutions

Kimberly approached the projects using a two-phased process:

1. Research and data gathering on Scope 3 emissions categories and upstream suppliers. Kimberly engaged with team members to collect data on purchased goods and services, upstream transportation, business travel, and employee commuting. She also researched LCAs, peers, industry standards, and previous supplier responses to identify emission factors, Scope 3 strategies, and responsible sourcing practices.
2. Modeling and Analysis of upstream emissions and supplier impacts. Kimberly calculated Signet’s Fiscal Year 2024 Scope 3 emissions and outlined key methodologies and assumptions. She also forecasted future Scope 3 emissions and recommended reduction pathways for the most material activities. Kimberly redesigned the Environmental and Social Questionnaire, mandatory for all merchandise suppliers, to help Signet better assess supplier emissions, environmental impacts, and claims.

Potential Impact

The Scope 3 inventory serves as a foundation for conducting more complete and accurate calculations in the future and adopting a mid-to-long-term reduction strategy and target. The redesign of the Environmental and Social Questionnaire provides Signet with better insights into the environmental performance of its suppliers, supporting future collaboration strategies and Scope 3 actions plans. Both projects contribute to Signet’s Corporate Sustainability Goal of integrating carbon management in business planning to reduce GHG emissions.