Tiffany And Co Sustainability Profile
Tiffany & Co., often referred to simply as Tiffany, is a prestigious American luxury jewellery and specialty retailer headquartered in New York City, US. Founded in 1837, the company has established itself as a leader in the fine jewellery industry, renowned for its exquisite diamond engagement rings and iconic blue boxes. With a rich heritage marked by key milestones, including the introduction of the Tiffany Setting in 1886, Tiffany & Co. has consistently set the standard for quality and craftsmanship. The brand's core offerings encompass a wide range of products, including sterling silver, watches, and home accessories, all distinguished by their timeless elegance and superior artistry. As a market leader, Tiffany & Co. is celebrated for its commitment to ethical sourcing and sustainability, further enhancing its reputation as a symbol of luxury and sophistication.
DitchCarbon Score
How does Tiffany And Co's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Retail Trade Services industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Tiffany And Co's score of 61 is higher than 77% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Tiffany And Co's reported carbon emissions
In 2022, Tiffany & Co. reported total greenhouse gas emissions of approximately 428,000,000 kg CO2e, comprising 2,926,000 kg CO2e from Scope 1, 5,524,000 kg CO2e from Scope 2, and a significant 418,850,000 kg CO2e from Scope 3 emissions. This data reflects a comprehensive approach to emissions reporting, including all relevant scopes. Tiffany & Co. has set ambitious climate commitments, aiming to achieve a 90% reduction in absolute Scope 1, 2, and 3 greenhouse gas emissions by FY2040, using FY2019 as the baseline year. Additionally, the company has established near-term targets to reduce absolute Scope 1 and 2 emissions by 70% and Scope 3 emissions by 40% by FY2030. These targets are aligned with the Science Based Targets initiative (SBTi) and are designed to support the global effort to limit warming to 1.5°C. The company's commitment to net-zero emissions across its value chain by FY2040 further underscores its dedication to sustainability. This commitment is part of a broader strategy to enhance environmental responsibility within the luxury goods sector, which is increasingly scrutinised for its carbon footprint. Tiffany & Co.'s emissions data and climate commitments are cascaded from its parent company, LVMH Moët Hennessy - Louis Vuitton, indicating a structured approach to sustainability across its corporate family.
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| 2013 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | |
|---|---|---|---|---|---|---|---|---|
| Scope 1 | 2,556,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 2 | 39,773,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 3 | - | - | - | - | - | - | - | 000,000,000 |
How Carbon Intensive is Tiffany And Co's Industry?
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Tiffany And Co's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Tiffany And Co has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
