A More Energy-efficient Tiffany & Co.
The first priority of our three-pronged approach to achieve net-zero emissions is to reduce our energy use and emissions through operational efficiency initiatives.
Tiffany operates manufacturing operations, including diamond cutting and polishing workshops, in addition to our retail stores, offices and distribution facilities, which enables us to directly reduce our emissions connected to our core business through energy efficiency projects.
We seek high-impact efficiency improvements when we build new facilities and renovate existing ones. As of June 2020, 16 of our new and renovated retail stores in our Asia-Pacific region received LEED (Leadership in Energy and Environmental Design) Silver or Gold certification, demonstrating excellence in sustainable building design and construction. All new retail stores are equipped with LED systems and in 2019, we converted lights at 16 of our existing retail locations. Globally, we have LED lights now at 36 of our retail stores. We are also improving efficiency by incorporating more efficient heating and cooling systems, installing building energy-management systems and upgrading to energy-efficient computers and office equipment. In 2020, we began renovations to the New York flagship store that incorporate additional ways to minimize our environmental footprint and make the Tiffany New York flagship store a model of our company’s broad sustainability commitment.
Separate from our purchases of renewable electricity, our global greenhouse gas emissions decreased by 8% between 2013 and 2019 even as our global operations grew, and we reduced our emissions per square foot by 21% over the same period. We are also taking steps to better understand our carbon footprint outside our direct operations (Scope 3 emissions), including from sourcing, transportation and third-party manufacturing. In 2018, we completed a baseline assessment of our Scope 3 emissions and are currently assessing our approach to reducing those emissions.