Achieving Net-zero Emissions

To support our commitment to achieve net-zero greenhouse gas (GHG) emissions, we have implemented a three-pronged strategy to reduce, avoid and offset our emissions.

Prioritising Renewable Energy

Sourcing and using clean and renewable energy is a key component to our climate strategy. Our ultimate aim is to reach 100% renewable electricity globally, increasing both renewable energy generation and purchases.

 

Today, we purchase the majority of our renewable electricity, and we generate solar energy at Tiffany & Co. locations in the Dominican Republic, Cambodia, New Jersey and Rhode Island. In Fiscal Year 2020, we purchased renewable electricity equivalent to 100% of our electricity use in 29 of our markets, including the U.S., China and the EU; and 85%* of our global electricity use came from clean, renewable sources, including purchased renewable energy and solar energy generated at Tiffany & Co. locations.

 

We set a new 2025 goal to reduce total Scope 1 and Scope 2 GHG emissions by 70% compared to 2018 levels. Our previous goal was to reduce emissions by 15% from 2013 through 2020, regardless of how much our business grows. We exceeded that goal and reduced emissions by 17% through a combination of our energy-efficiency initiatives and renewable energy sourcing.

 

*See the Report of Independent Accountants

“In addition to reducing our greenhouse gas emissions, Tiffany & Co. is working to evaluate the different dimensions of risk climate change poses to our business."