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Finally, we are actively building and refining our strategic roadmap to meet our GHG reduction commitments and have begun to execute on these strategies.
This new working group includes our CSR and community relations leaders to better understand the needs and the impacts of EVs on our communities.
In keeping with our outstanding commitments to environmental stewardship, we will continue to invest to ensure CarMax is a leader in the used EV space.
To help manage the environmental impact of our retail footprint, our buildings are designed with energy efficiency in mind, and we integrate best practices from the Leadership in Energy and Environmental Design (“LEED”) principles in our new store construction and store upgrade plans.
Responsibility Report When designing new stores for our growing business, we optimize for function and size, which helps to reduce energy use throughout the useful life of the building.
► Using white thermoplastic polyolefin reflective roofs, which reduce cooling energy use and heat island effects; and ► Using special fixtures and materials to improve air quality in our buildings, including low-VOC (volatile organic compounds) interior paint, flooring materials, adhesives, and sealants.
Our energy management program allows our team to track energy usage and adjust building conditions based on occupancy, weather conditions, and seasonal changes.
In addition, we actively participate in the U.S. Environmental Protection Agency’s ENERGY STAR® partner program and use its recommended energy management and analysis principles to identify reduction opportunities.
Finally, our HVAC systems are designed to ensure we are providing our associates and customers with an environment that is safe and comfortable, while using the least amount of energy possible.
This is achieved through multi-stage heating and cooling, multi-speed fans, energy recovery wheels, variable frequency drives, and demand control ventilation.
These efficiencies help reduce diesel use and corresponding emissions from our fleet operations.
For example, we have piloted the use of a natural gas-powered vehicle within our fleet and plan to continue similar efforts going forward.
Waste Our thorough vehicle reconditioning process improves the quality of the cars we sell and often extends their useful life.
However, the reconditioning process and general car maintenance can generate various types of waste.
We look for ways to reduce and recycle waste from across the business and have dedicated recycling programs for a variety of materials including used oil, non-automotive batteries, automotive battery cores, tires, scrap metal, as well as paper products.
Water CarMax implements water conservation practices at all retail and office locations.
We apply xeriscape principles in all our new stores, which includes limiting the use of grass lawn to appropriate, functional areas, and planting water-efficient, drought-tolerant plants.
We view effective corporate governance as key to overall business success and to strong ESG and CSR programs, as it provides the necessary framework and accountability to ensure progress and sound execution on environmental and social priorities.
Aligned with our approach to associate diversity, we believe a Board comprised of Directors with diverse viewpoints, experiences, and backgrounds is fundamental to the organization’s ability to problem-solve, identify and capitalize on new business opportunities, and ultimately expand the Company’s competitive advantag...
Our Directors’ backgrounds collectively encompass a wide range of skills and experiences that equip the Board with varied perspectives and diversity of thought in order to lead CarMax with integrity and sound judgement.
These meetings covered topics important to our shareholders, including: environmental, social, and governance matters; our unique CarMax culture; Board refreshment, qualifications and diversity; and cybersecurity, among other topics.
To effectively identify vulnerabilities and remediate risks that could impact our business operations and the integrity of the information we store, we utilize technologies and processes that align with leading industry standards for enumerating and remediating our environment.
Given the potential impact and ever-changing nature of cybersecurity threats, our management team briefs either the full Board or its Technology and Innovation Committee on a quarterly basis on CarMax’s security posture and the latest and most relevant issues related to technology and cybersecurity risk.
We will continue to monitor industry trends, including the unprecedented rise in ransomware and extortion, to drive even more impactful investment, prioritization, and risk mitigation practices for our customers, associates, and business.
When deciding to contribute, we consider the candidate’s: ► Policy views on issues important to CarMax; ► Leadership position within their jurisdiction; ► Character and moral integrity; and ► Commitment to diversity and inclusion.
While we recognize that a trade association’s viewpoints do not agree with ours on every issue, we evaluate our trade association memberships annually to ensure that they promote the long-term interests of the Company, including our commitment to diversity, equity, inclusion, and environmental responsibility.
Appendix *Certain materials throughout this responsibility report and the above table reference GRI 102-21 – Consulting stakeholders on economic, environmental, and social topics, 102-22 – Composition of the highest governance body and its committees, 102-23 – Chair of the highest governance body, 102-24 – Nominating a...
been designed to be read digitally, to encourage conservation of paper.
create and foster a culture that embraces diversity, we’re strengthened by the new perspectives and experiences that comprise our growing team.
That adaptation is driven by relentless pursuit of innovation in design, craftsmanship and the world’s finest gemstones.
We have set a long-term target to achieve net zero greenhouse gas emissions across all our business operations by 2040.
From constructing and retrofitting more sustainable buildings to increasing our investment in renewable electricity sourcing, our commitment is clear— and our achievements speak for themselves.
Tiffany & Co. values and embraces diversity, equity and inclusion.
dial, with all the proceeds going to The Nature Conservancy to accelerate conservation efforts in five key regions facing the dual crises of climate change and biodiversity loss.
We are proud of the continued efforts of The Tiffany & Co. Foundation and their impact, supporting responsible mining and coral conservation, with over USD $ over the past two decades.
Tiffany & Co. has a long-standing commitment to conducting its business responsibly; sustaining the natural environment; prioritizing diversity, equity and inclusion and positively impacting the communities in which it operates.
We continue to operate our business in a responsible way by strengthening our environmental, social and governance efforts to foster long term benefits for our Company, our clients, our employees, our business partners and broader society.
Members of the Company’s senior management play an active role in Tiffany & Co.’s sustainability across economic, environmental and social areas, by driving forward progress towards our goals in their respective teams.
to our business and our stakeholders, such as the arts; environmental conservation; and diversity, equity and inclusion.
With a mission to preserve the world’s most treasured seascapes and landscapes, the Foundation’s grantmaking today focuses on two program areas: Responsible Mining and Coral Conservation.
We prioritize diversity, cultivate inclusive environments and foster growth to positively impact our employees, clients and communities.
We are committed to protecting the natural world by taking bold action on climate change and conservation.
Building on that success, we are now moving toward sourcing and platinum from recycled sources.
This sourcing strategy enables Tiffany & Co. to drive additional progress towards reducing climate impacts, specifically in reducing greenhouse gas emissions.
As impacts of climate change accelerate, Tiffany & Co. is accelerating its commitment to the planet by pledging to achieve net-zero greenhouse gas emissions across Scope by the Science Based Targets initiative.
This commitment builds on two of our previous Planet goals: to reduce total global Scope from 2018 to 2025; and, starting in 2021, to implement a strategy to reduce Scope 3 GHG emissions.
environmental integrity at every step of our sourcing and crafting process.
Tiffany & Co. is committed to improving mining standards around the world, respecting the environment and supporting mining communities.
Much of our recent efforts to advance progress in the mining industry are focused on protecting ecosystems potentially affected by mining.
supported a number of organizations around the world who work to reclaim abandoned mining sites, mitigate the impact of mining on biodiversity and advocate for more ethical and sustainable practices.
IRMA offers independent third-party verification and certification against a comprehensive standard for all mined materials, covering the full range of issues related to the impacts of industrial scale mines.
comprehensive set of requirements for responsible mining, which incorporate environmental, social, ethical and transparency considerations.
In to operate in conformity with the RJC Code of Practices, which addresses human rights, labor rights, environmental impact, mining practices and product disclosure.
the Maendeleo Development Standards, the first responsible mining standards for the artisanal diamond industry, and the International Institute for Environment and Development, in building collaborative action among large-scale and small-scale miners and governments.
When it comes to crafting our products, Tiffany & Co. holds both our internal manufacturing facilities and our contracted manufacturing partners to high social and environmental standards.
We prioritize the protection of human rights and respect for the environment.
We maintain rigorous standards when it comes to diamond traceability, mitigating the potential impact of our raw materials on the environment and the communities that mine and source them.
diamonds from areas that do not meet our social and environmental standards.
free” to better protect human rights, stem environmental threats and stop exploitative labor practices.
Building on our toward sourcing 100% of gold, silver and platinum from recycled sources.
that we can continue to advance traceability and improve social and environmental impacts.
In the Gemstones and Jewellery Community Platform, an online resource for stakeholders across the value chain to share knowledge, due-diligence tools, training materials and other resources in an effort to create a more transparent and sustainable industry.
to advance our traceability efforts in the colored gemstone supply chain and have begun to build a roadmap to improve social and environmental impacts in three gemstone-sourcing countries.
We have set goals to reduce the environmental effects of Tiffany & Co. packaging by minimizing material use, prioritizing reuse and recycling, and selecting materials sustainably.
We believe environmental and social stewardship is an important aspect of responsible pearl farming and, where possible, we choose to source directly from suppliers and pearl farmers that share our beliefs.
We value biodiversity and consider the impacts of our materials sourcing on wild species and ecosystems.
We are determined to protect species such as coral and elephants, which are the cornerstones of healthy ecosystems but have historically been threatened in part due to the jewelry industry’s use of coral and ivory.
impacts of Reefs for the Future, a program that takes a holistic approach to coral conservation to strengthen the management strategies of fisheries and ensure local We are determined to protect species such as coral and elephants, which are the cornerstones of healthy ecosystems.
communities benefit from sustainable access to food and livelihoods without damaging coral reef ecosystems.
By the end of $36 million to support ocean conservation.
were donated to the Wildlife Conservation Network for the protection of these endangered species.
, we believe that fine craftsmanship means embedding social and environmental integrity at every step—from sourcing to processing to crafting our jewelry.
we place on all of our suppliers for labor rights, health and safety, environmental protection and compliance with applicable laws.
The framework evaluates product and process innovations across a number of key environmental and social criteria.
Looking forward, Tiffany & Co. will continue to identify and prioritize innovations with equal or improved sustainability impacts.
In support of The Nature Conservancy, a donation generated from the historic auction of the first-ever Patek Philippe Ref.
This funding is designed to accelerate conservation efforts in five key regions facing dual crises of climate change and biodiversity loss.
Belize’s Maya Forest and Alaska’s Tongass National Forest.
This program builds on Tiffany & Co.’s existing commitment to sustainability and conservation, including over of grantmaking from The Tiffany & Co.
inclusive practices in our marketing activities to continue to reflect the diversity of our client base.
→ Tiffany & Co. continues to embed bias mitigation training throughout learning and development opportunities.
→ In an inclusive workplace culture that acknowledges and supports employees’ broad dimensions of diversity.
For example, Tiffany & Co. sponsored content in Bloomberg Equality and Fairchild Media Group’s virtual Diversity Forum: The New Face of Fashion and Beauty.
Starting in inclusive practices in the omni-channel experience and after-sales service to ensure a welcoming environment for a diverse client base.
In to maintain a welcoming and safe environment for all people—including our employees, visitors, suppliers and clients—regardless of their race, ethnicity, national origin, sex, sexual orientation, gender identity and expression, immigration status, religion or disability.
We are now involved in an Open to All Inclusive Retail campaign that helps both employees and clients experience an inclusive store environment.
At Tiffany & Co., we endeavor to drive diversity, equity and inclusion (DEI) in all its forms to fully leverage the power of all our people—employees, clients and communities—to make Tiffany & Co.
opportunities to increase diversity not only in hiring, but in areas of employee retention and promotion.
Through our talent pillar, we aim to advance diversity, equity and inclusion (DEI) initiatives for the benefit of our business, our clients and our communities.
Throughout upon and leverage our Employee Resource Groups (ERGs), harnessing diverse voices from our community for increased input into our business practices and the products we create.
In added two floating holidays, Juneteenth and a Culture Day, in support of our continued efforts to build an inclusive workplace culture that honors the diversity of our talent.
Tiffany & Co.’s brand pillar advances our work to be recognized as the most inclusive luxury brand by implementing successful diversity, equity and inclusion practices that grow our business.
Our marketing activities and product design process reflect the systemic integration of inclusive practices to continue to reflect the diversity of our clients.
, we continue to expand our diverse workforce and other diversity, equity and inclusion (DEI) initiatives to deliver for our business, our clients and our communities.
We capture data to drive progress toward our goal of being an employer of choice, recognized as the most inclusive luxury brand by highly engaged workforce empowered by an innovative workplace culture.
We find value in the intersectionality of diversity; that difference makes our workforce stronger.
We expect this number will continue to increase as we expand bias mitigation and awareness training offerings and further integrate them into all global learning and development opportunities.
Employee Resource Groups are voluntary, employee-led groups formed around aligned interests that provide employees with the opportunity to engage more deeply, learn from one another and share ideas openly to influence the business.
In the LatinX ERG partnered with global Tiffany & Co. human resource teams and La Nueva Link, a digital and in-person community for LatinX creatives and media professionals, to start building a LatinX talent pipeline for the creative fields.
members of the LGBTQIA+ community to foster a strong community that embraces and supports the diversity of the group’s members, celebrates unique identities within a safe space and amplifies voices/perspectives and shares stories to influence change.