2014 · Tiffany & Co. Investor Relations website. ‡ For the purposes of this Report, the terms “Tiffany & Co.,” the “Company,” and “we,” “us,” “our” are used

SUSTAINABILITY RepoRT 2014

Table of ContentsI. EXECUTIVE SUMMARY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

II. CEO MESSAGE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9

III. RESPONSIBLE MINING . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 1

Responsible Mining Standards . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 4 Tiffany Diamonds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 7 Gemstones . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Metals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 5 •PositiononConflictMinerals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 7 Mining and the Environment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 9

IV. ETHICAL SOURCING . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 3

Paper&Packaging . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 3 RawMaterialSourcing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 6 •Leather . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 6 Supplier Responsibility . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 8 •CaliforniaTransparencyinSupplyChainsAct(SB657) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 8

V. GOVERNANCE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 1

VI. BUILDING FOOTPRINT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 5

VII. OUR EMPLOYEES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 1

VIII. CHARITABLE GIVING . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 9

Corporate Giving . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 0 The Tiffany & Co. Foundation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 3

IX. ABOUT THIS REPORT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 7

DefinitionofMetrics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 0 GlobalReportingInitiative(GRI)Index . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 7 UnitedNationsGlobalCompact—CommunicationonProgress . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 6

Forward-LookingStatement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 9

X. APPENDIX: REPORT OF INDEPENDENT ACCOUNTANTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 0 1

Please consider the environment before printing this report, available online at Tiffany.com/sustainability.

http://www.tiffany.com/CSR/

Welcome to the Tiffany & Co. 2014 Sustainability ReportOurrelationshipwithnaturehasarichhistory.Forover175years,thenaturalworldhas

inspiredTiffany&Co.designers,customersandemployeeswhileprovidingtheprecious

materialsthatgivelifeandformtoourdesigns.Webelievethatwehaveamoralimperative

tohelpsustainthenaturalenvironment,andaredeeplycommittedtoresponsible

corporatecitizenshipandbuildingastrongerbusiness.

Tiffany&Co.hasintegratedsustainabilityintomanydimensionsofitswork—fromthe

socialandenvironmentalpracticesofthemineswesourcefromtothepaperinouriconic

BlueBoxesandbags.WealsousethepoweroftheTiffany&Co.brandtoraiseawareness

aboutcriticalissuesandleadthejewelryindustrytowardamoresustainablefuture.

“Over the past 20 years, Tiffany & Co. has made a strong, industry-leading

commitment to business practices that are socially and environmentally responsible.

We have long challenged both the mining and jewelry industries to improve—to

increase transparency, and prioritize environmental protection and human rights.

Jewelry consumers deserve to know that we have taken every effort to ensure that

their jewelry is sourced and crafted responsibly.” —MIChAeLJ. KOWALSKI–ChAIRMANOFTheBOARD,TIFFANy&CO.

Executive Summary | 3

TIFFANY & CO.’S APPROACH TO STAKehOLDeReNGAGeMeNTSustainabilityisinherentlycollaborativeandstakeholder-driven.Wehavelongrecognizedandembracedtheintegralrolethatstakeholdersplay inourbusiness,includingouremployees,stockholders,nongovernmentalorganizations(NGOs),industrymembersandsupplychainpartners.Wevalue ourstakeholders’involvementinimprovingpracticesacrosstheindustryandthroughoutthejewelry supplychain.

Longstanding relationships with NGOs provide us withimportantperspectivesonenvironmentalandlaborissuesfacingourindustry.Weco-hostandparticipateindialoguesandmultistakeholderinitiativesconvenedbyNGOsonavarietyoftopicsaffectingourindustryandbeyond.engaging withminingcompanies,theluxuryindustry, localcommunitiesandindustryassociationsgives usanopportunitytoshapebestpracticesacross thesector.Italsoensuresthatdiversepointsof viewareconsideredineffortstoraisethebaronresponsibleminingstandardsandsupplychainmanagement matters.

Tiffany&Co.willcontinuetoworkwithitsstakeholders,includingthosethatchallengeustooperate in a more responsible and progressive manner. WewillcontinuetoharnessthepoweroftheTiffanybrandtopositivelyinfluencethejewelryindustry andpartnersalongoursupplychain.

OURSUSTAINABILITyOBJeCTIVeSAcrosstheCompany,weunderstandthatourbusinessactivitiesaffecttheearth,itsresourcesandthecommunitieswhereweoperate.Wewillcontinuetoleadourindustrybyconductingourbusinessethicallyandmaintainingourstandardsforquality,design and sustainability.

WeSTRIVeTO:

•Protecttheinterestsofourshareholders,customersandotherstakeholdersthroughresponsiblebusinessdecisionsthatreflecttheintegrityofthebrandinboththe short- and long-term •enhancethecommunitiesinwhichwesource,operateandsellourmerchandise •Improveourenvironmentalperformance •Promoteresponsiblepracticeswithinoursupplychainandindustry

TOAChIeVeTheSeReSULTS,We:

•Continuouslyseektoimprovesustainabilityprogramsinallaspectsofourbusiness •Setsustainabilitygoalsandtargetsandmeasureperformance •engagewithourdiversestakeholderstostrengthenoursocialimpactandminimizeourenvironmentalimpact •Seektoimplementindustrybestpracticesandmeaningfulvoluntarycompliancestandards

4 | Executive Summary

THE 2014 SUSTAINABILITY REPORTOur Tiffany & Co.‡ 2014 Sustainability Report includes discussion of our material** environmental and social challenges and opportunities.

Oursustainabilityeffortsfocusonourmostmaterialissuessuchasresponsibleminingandsourcingofrawmaterials,rangingfromdiamondsandgoldtothepaperusedforouriconicBlueBoxesandbags.Ourmostrecentassessmentofsustainabilityobjectiveswasconductedin2013,whichreaffirmedthemostimportantissuesthatwecontinuetofocusonasaCompany. Our 2014 report details progress towards ourgoalsandhighlightsadvancesandevolutionsin our programs.

Leadingcompaniestodayhaveanobligationtospeakoutinsupportofpositiveenvironmentalandsocialchange.Tothatend,wehaveahistoryofraisingawarenessofcriticalissuesfortheearthandsociety.Whetherit’sprotectingpristinelandscapeslikeyellowstoneNationalParkandBristolBayfromthedamagingeffectsofmining,orvoicingsupportforthoseprotectinghumanrightsinAngolaandZimbabwe,webelievethatwemustusethepoweroftheTiffanybrand,andourvoice,toencourageresponsibleandethicalbehavior.

In2014,wemadesignificantprogresstowardthedevelopmentofagloballyrecognizedstandardforresponsiblemining.AsafoundingmemberoftheInitiativeforResponsibleMiningAssurance(IRMA),wehavecollaboratedwithrepresentativesfromindustry,NGOs,impactedcommunities,labororganizationsandotherstodeveloptruethird-party,multistakeholderstandardsforresponsiblemining.Afteryearsofimportantdialogue,debateandproductivecompromise,IRMAreleaseditsfirstdraftstandardforpubliccommentin2014.In2015,IRMAplanstopilotthedraftstandardandreleaseareviseddraftforasecondroundofreview,commentsandrevisionsbeforeafinalstandardisadopted.Wevaluetherolethattruethird-partyprocessesplayinraisingthebarforourindustryandbelievethisprocessiscriticaltoimprovingstandardsforresponsiblemining.

Our 2014 Sustainability Report aligns with the Global ReportingInitiative(GRI)G4andUnitedNationsGlobalCompactreportingframeworks.Whileweareproudoftheresultswehaveachieved,wecontinuetorecognizethatthereismuchmoretobedone.UndertheCompany’sfirstChiefSustainabilityOfficer,appointedbyournewCeO,wewillstrivetoaccelerateprogressonkeysocialandenvironmentalissuesand

furtheralignoursustainabilityobjectiveswithourlong-termbusinessobjectives.Wewanttoshareouraccomplishments,challengesandagendaforchange,andlookforwardtocontinuingtoreportonoureffortsand progress.

‡ For the purposes of this Report, the terms “Tiffany & Co.,” the “Company,” and “we,” “us,” “our” are used interchangeably and mean Tiffany & Co. and its subsidiaries. The terms may be used to refer to the activities and operations of one or more of Tiffany & Co.’s subsidiaries.

** For the purposes of this Sustainability Report, materiality is defined as that which is most important to the Company and reflects our most significant environmental and social impacts, as well as that which most substantively influences the assessments and decisions of our stakeholders.


http://www.responsiblemining.net/

6 | Executive Summary

TIFFANY & CO. FINANCIAL HIGHLIGHTS†

Tiffany & Co.‡,acorporationpubliclytradedontheNewyorkStockexchange,designs,manufacturesandretailsjewelrythroughitssubsidiariesworldwide.Itsotherproductsincludetimepieces,leathergoods,sterlingsilvergoods(otherthanjewelry),china,crystal,stationery,fragrancesandaccessories.MorethanhalfofTiffany&Co.merchandiseiscraftedintheCompany’sownmanufacturingfacilitiesoperatedbyitsprincipalsubsidiary,TiffanyandCompany.Thebalance,includingalmostallnon-jewelryitems,ispurchasedfromthirdparties.TheCompanyalsocutsandpolishesroughdiamondsatsixstate-of-the-artfacilitieslocatedinBelgium,Botswana,Cambodia,Mauritius,NamibiaandVietnam.AttheendofFiscalyear2014,thereweremorethan295Tiffany&Co.storesacross25countriesandapproximately12,000Tiffany&Co.employeesaroundthe world.

† Data and graphs in the Financial Highlights section are from the Company’s Form 10-K filed on March 20, 2015. To view the Company’s financial filings, please visit the Tiffany & Co. Investor Relations website.

‡ For the purposes of this Report, the terms “Tiffany & Co.,” the “Company,” and “we,” “us,” “our” are used interchangeably and mean Tiffany & Co. and its subsidiaries. The terms may be used to refer to the activities and operations of one or more of Tiffany & Co.’s subsidiaries.

http://investor.tiffany.com/


Selected Financial DataEARNINGS DATANet salesGross profitSelling,general&administrativeexpensesNet earningsNet earnings per diluted share

OTHER DATACompany-operated Tiffany & Co. storesNumberofemployees

2013$4,031,130,000 $2,340,443,000 $1,555,903,000

$181,369,000 $1.41

289 10,600

2014$4,249,913,000 $2,537,175,000 $1,645,746,000

$484,179,000 $3.73

29512,000

Sales By Category2014

92% JeWeLRy

7% NON–JeWeLRyCATeGORIeS (e.g. , TIMePIeCeS,LeATheRGOODS,ChINA)

1% OTHER

our Retail Locations

U.S.

9495

CANADA & LATIN

AMERICA

2727

ASIA-PACIFIC

7273

JAPAN

5456

EUROPE

3738

EMERGING MARKeTS

56

TOTAL

289295

20132014

AMERICAS

“As a leader in sustainable luxury, Tiffany & Co. has an obligation

to protect the natural environment. We need to make sure we

honor the earth, which provides us with so much beauty, by doing

everything we can to leave it whole.”—FRÉDÉRICCUMeNAL,CeO,TIFFANy&CO.

CEO MEssagEas Tiffany & Co.’s new CEO, I am proud to assume leadership of a company with such a rich heritage, iconic designs and a legacy of sustainability and corporate responsibility.

Our global sustainability efforts are both a priority for the Company and for me personally. as a revered house of luxury and an iconic brand, the world looks to us to define trends and set standards—from the innovative and unapologetically modern style of the Tiffany T collection to rigorous purity requirements adopted for the sterling silver and platinum standards. Today, I see an opportunity and responsibility for Tiffany & Co. to set the standard for sustainable luxury. Ours will be an example for others to follow in the materials we choose to use, as well as those we don’t, in the way we treat our employees and in the impact we have on the earth. We need to make sure we honor the earth, which provides us with so much beauty, by doing everything we can to leave it whole.

One of my earliest actions as CEO was to appoint Tiffany & Co.’s first Chief sustainability Officer. I believe that sustainability is a critical element of a successful business strategy and that sustainable principles should be woven into every department’s responsibilities. Under my leadership, sustainability will be a significant priority for Tiffany & Co. as such, the Chief sustainability Officer reports directly to me and is positioned to advance a cohesive, integrated agenda in this important area.

as part of the Company’s sustainability strategy, I have asked our business leaders to set aggressive goals to advance sustainability practices. These goals will serve to further align our sustainability practices with our business growth strategies.

I am also pleased to renew Tiffany & Co.’s commitment to, and declare my personal support of, the Ten Principles of the United Nations global Compact in the areas of Human Rights, Labor, Environment and anti-Corruption.

Looking ahead, promoting and supporting responsible mining practices continues to be our greatest area of impact and opportunity. We are committed to working with our suppliers, the jewelry and luxury industries, the nonprofit community, the mining sector and others to drive progress. Through leadership and participation in the Initiative for Responsible Mining assurance (IRMa), we are helping to make significant progress towards a

global standard for responsible large-scale mining. I am delighted that IRMa’s draft standard is being piloted in 2015.

During 2014 there were significant expansions at Tiffany & Co. We opened stunning new retail locations, from a store on the Champs-Elysées in Paris to our first store in Russia. We also debuted Tiffany swiss Watch operations in switzerland, a polishing facility in the Dominican Republic and our newest Laurelton Diamonds facility in Cambodia. This growth in production capacity helps us ensure greater control over the responsible manner in which our extraordinary products are designed and crafted.

In 2014, Tiffany & Co. also began another important initiative—to reframe our diversity and inclusion strategy. We have long held diversity as a core value. Being a global organization, we are excited about the potential opportunities that can be capitalized on from a talent and business perspective. My senior management team and I are committed to this initiative and we look forward to sharing our progress.

as I begin my journey as CEO, I am humbled when I think of Tiffany’s journey from a New York City fancy goods store to a global luxury house operating in 32 countries—a remarkable evolution. Many things have changed over the course of these 178 years, but one thing remains constant: the natural world is a source of inspiration for Tiffany designers, employees and customers. Over the last two decades, this connection to nature blossomed as Tiffany & Co. led the industry in responsible business practices. I am proud to lead a company with such a strong legacy of responsibility. But let me be clear—I am committed to going beyond this tradition to accelerate our sustainability progress and industry leadership. I encourage our customers to expect excellence from us always.

I invite you to read about our environmental and social commitments in our fifth annual sustainability Report.

Frédéric Cumenal Chief Executive Officer Tiffany & Co.

CEO Message | 9

Responsible MiningTiffany&Co.iscommittedtoobtainingpreciousmetalsandgemstonesandcraftingourjewelry

inwaysthataresociallyandenvironmentallyresponsible.Butoureffortsextendbeyondour

ownsupplychain.Aslong-timeleadersinthejewelryindustry,weworktoadvancerigorous

responsibleminingstandards.Wealsoinvestindiamond-producingcountries,activelyadvocate

forpreservationeffortsandencouragemoreeffectivegovernmentoversight.

A MODEL OF RESPONSIBLE SOURCINGDiamondandpreciousmetalsupplychainscanbelong,complexandoftenlackingintransparency.Asaresult,mostpeople—includingmanyjewelryretailers—traditionallyknewlittleaboutwhominedtheirjewelrymaterials and how. As the industry evolved and we learnedmoreaboutthelong-termimpactsofmining,Tiffany&Co.adaptedoursourcingpracticesandmadeastrongcommitmenttotraceabilityandsustainability.

Tiffany&Co.craftsmorethanhalfofitsmerchandiseatitsmanufacturingfacilities.Wehavealsoformeddirectrelationshipswithmanyoftheminesthatsupplyourdiamondsandpreciousmetals—aninnovativeapproachwithinthejewelryindustry.Weobtaintheremainderofthediamondsandpreciousmetalsthatwedirectlysourcefromminesorsupplierscommittedtoresponsibleminingpractices,whichweverifythroughthird-partycertification,internalorthird-partyauditsandothermeans.Thishelpsustoprotecttheintegrityofoursupplychainandupholdourstandardsforsocialand environmental responsibility.

Beyondrefiningourlong-termsourcingstrategytoserveasamodelfortheresponsiblesourcingofdiamonds,gemstonesandpreciousmetals,weworktowards industry-wide improvements by:

•Collaboratingwithotherforward-lookingleadersinthejewelryindustryandwithnongovernmentalorganizations(NGOs)toheightenpublicawarenessofresponsibleminingissuesandsupportthedevelopmentofbroadlyacceptablestandardsforresponsible metal and gemstone mining •Raisingourvoicetopubliclyopposenewminedevelopmentsthatthreatenplacesofhighenvironmentalandculturalvalue •Participatinginpublicpolicydebatesasadvocates forenhancedregulatoryoversightoftheminingindustry,wherewebelieveadditionaloversightisin thepublicinterest •Investingindiamond-producingcountriestoensurelocalcommunitiesreceiveskilledjobsandsustainableincomefromtheseresources

Responsible Mining | 11

•Newminedevelopmentorexpansionofexistingminesshouldneveroccurinareasofhighecologicalorculturalvalue.Specifically,minesshouldneverbedevelopedinWorldheritageSites,protectedareascategorizedbytheInternationalUnionforConservationofNature(IUCN)asI–IV,AllianceforZeroextinctionSitesorKeyBiodiversityAreas.

•Air,waterandsoilcontaminationshould be prevented.

•Theprincipleofinformedcommunity participationinminedevelopmentandexpansionshouldbeembraced.

•Workers’rights,laborstandardsandhumanrightsshouldberespectedbyallparties.

•Mineoperatorsshouldprovideforappropriateandfiscallysoundguaranteestocoverthecostsofmineclosure,cleanupandrestoration.

•Minewastes(tailings)shouldnotbeplacedinrivers,streams,lakesoroceanwatersandshouldbedisposedofresponsibly.

CORE PRINCIPLES FOR THE RESPONSIBLE DEVELOPMENT AND OPERATION OF LARGE-SCALE MINES:

MANUFACTURING

PRIMARY SOURCES OF ROUGH DIAMONDS

PRIMARySOURCeSOFRAWMeTALS

MAURITIUS

THAILAND

NAMIBIABOTSWANA

VIETNAMCAMBODIA

BELGIUM

SIERRA LEONE

UNITEDSTATES

DOMINICAN REPUBLIC

CANADA

RUSSIA

AUSTRALIA

Tiffany & Co. primary Sourcing and Manufacturing Diamonds and Metals

2014

12 | Responsible Mining

photograph © copyright, Robert Glenn Ketchum, 2015 Bristol Bay, Alaska

“I have yet to come across another company as committed to sustainability

and as serious about conservation as Tiffany & Co. Tiffany & Co. has done

more than any other private company to address the issue of abandoned

mines, and they are an instrumental advocate in the fight to protect some

of the last best places such as Bristol Bay, Alaska. There are those who talk

about sustainability, and those who lead. Tiffany & Co. is a leader.”

—ChRISWOOD,PReSIDeNT/ChIeFexeCUTIVeOFFICeR,TROUT UNLIMITED

http://www.tu.org/

COLLABORATING ON RESPONSIBLE MINING STANDARDSTogetherwithoursuppliers,customersandemployees,weareproudtodrivepositivechangerelatedto keysustainabilityissues.Wepartnerwithjewelry industryassociationsandconcernednongovernmental organizationssuchaseARThWORKS and Human RightsWatch,toleadthejewelryindustryin responsible mining.

INITIATIVE FOR RESPONSIBLE MINING ASSURANCe(IRMA)

Webelievethejewelrysectorneedsanindependentlyverifiableminingassurancesystemthatestablishesrigorousstandardsforsocialandenvironmentalperformance.Tothatend,Tiffany&Co.isafoundingmember,andcontinuestoserveonthesteeringcommittee,ofIRMA.

Wearehopefulthatbyworkingcollaborativelywithadiversegroupofstakeholders,IRMAwillbesuccessfulindevelopingaconsensus-based,third-partycertificationstandardthatwillbewidelyembracedbycompaniesthatuseminedmaterials,theminingsector,civilsocietyand,mostimportantly,consumers.

IRMAreleaseditsdraftStandardforResponsibleMiningforpubliccommentin2014andsolicitedfeedbackfromdiverseaudiences.Thisprocessrepresentsacriticalmilestoneforthemultistakeholderinitiative.In2015,IRMAplanstopilotthedraftstandardandreleaseareviseddraftforasecondroundofreview,commentsandrevisionsbeforeafinalstandardisadopted.

IRMAseekstolaunchastandardthatincludes: •Acertificationstandarddevelopedthroughamultistakeholderapproachwithparticipationfromminingcompanies,retailers,nonprofits,laborgroupsand indigenous peoples •Independentthird-partyverification •Fairandequitabledistributionofbenefitstoaffectedminingcommunitiesandtheprotectionoftheirrights •Theavoidanceof,andeffectiveresponsivenessto,potentialnegativeimpactstotheenvironment,health,safetyandculture •enhancementofshareholdervalue

ReSPONSIBLeJeWeLLeRyCOUNCIL(RJC)

Tiffany&Co.isafoundingmemberofthe ResponsibleJewelleryCouncil(RJC).TheRJCisaninternationalnonprofitorganizationestablishedtoadvancebusinesspracticesthroughoutthediamond,goldandplatinumjewelrysupplychain.TheRJCdevelopedthePrinciplesandCodeofPractices,whichoutlineresponsiblebusinesspracticestowhich allRJCmembersmustadhere.Wewereinitially certifiedin2011.In2014,Tiffany&Co.againreceivedRJCMemberCertificationforitsglobaloperations

“IRMA’s strength lies in the authentic engagement of both corporate and civil society stakeholders, and its commitment to raising the bar on environmental and human rights standards for mining. This kind of debate and dialogue between parties who don’t always see eye to eye isn’t easy—but it’s essential to building a robust, credible system for improving mining practices.” —PAyALSAMPAT,INTeRNATIONALPROGRAMDIReCTOR,eARThWORKS


http://www.earthworksaction.org/

http://www.hrw.org/

http://www.hrw.org/

http://www.responsiblejewellery.com/


through2017.Thiscertificationdemonstratesthatwe operateinconformitywiththeRJCPrinciplesand CodeofPractices.

however,weencouragetheRJCtostrengthenitsstandard—fromdevelopingatruemulti-stakeholdergovernancemodelthatincorporatescivilsocietytoraisingthebarforminimumcertificationrequirements.

NO DIRTY GOLD

Tiffany&Co.wasthefirstjewelertoembracetheobjectivesofeARThWORKS’No Dirty Goldcampaign10 years ago. No Dirty Gold established aspirational social,humanrightsandenvironmentalstandardsfortheextractionofgoldthatretailjewelerscanuseastheyseekresponsibleminingsources.

FRAMeWORKFORReSPONSIBLeMINING: A GUIDE TO EVOLVING STANDARDS

In2003,Tiffany&Co.helpedleadapioneeringmultistakeholderconference—includingNGOs,retailers,investors,insurersandtechnicalexperts—toidentifybestpracticesacrosstheentirejewelrysupplychain.Theresultingdialogueledtothepublicationof the Framework for Responsible Mining: A Guide to Evolving Standards. The Framework’sgoalwastoadvanceproductivedebate—and,ultimately,action—bygovernments,retailers,civilsociety,theminingindustry and others.

THE TIFFANY & CO. FOUNDATION: SUPPORTING RESPONSIBLE MINING STANDARDS

The Tiffany & Co. Foundation’s Responsible Mining Programprovidesstrategicgrantstosupportthedevelopmentofstandardsfortheresponsiblemining ofpreciousmetalsandgemstonesnotonlyatthe large-scalelevel,butalsoattheartisanallevel.

Thereare20to25millionartisanalminersaroundtheworld,andtheFoundationsupportsnonprofitorganizationsworkingdirectlywithartisanalminingcommunitiestoimproveworkingconditionsandprovideequitablelivelihoods.Giventheoftendecentralizedorinformalnatureofartisanalmining,certificationandstandardsrequirementspresentuniquechallengesforthissector.Forthisreason,artisanalstandards-settingrequiresadifferentapproachthanlarge-scalestandardsefforts.Thedevelopmentofconsensus-basedthird-partystandardsisalong-termprocess,butessentialinmovingtheindustrytowardsaresponsibleandsustainablefuture.


http://nodirtygold.earthworksaction.org/

http://www.frameworkforresponsiblemining.org/

http://www.frameworkforresponsiblemining.org/

http://www.tiffanyandcofoundation.org/

Tiffany DiamondsTiffany & Co. is committed to sourcing diamonds in an ethical and environmentally responsible manner.

Tohelpmaintaintheintegrityofoursupplychain,Tiffany&Co.establishedLaurelton

Diamondsin2002.Thiswhollyownedsubsidiaryprocuresroughdiamondsandmanagesour

worldwidesupplychainthatsources,cuts,polishesandsuppliesfinishedstonestoTiffany&Co.

TheCompanysourcesthemajorityofitsroughdiamondsdirectlyfromminesinAustralia,

Botswana,Canada,Namibia,RussiaandSierraLeone.Wepurchaseroughdiamondsonlyfrom

thosecountriesthatarefullparticipantsintheKimberleyProcessCertificationScheme(KPCS).


http://www.kimberleyprocess.com/

TheKIMBeRLeyPROCeSS

WeapplaudedthecreationoftheKPCS,builtuponthecooperativeeffortsofgovernments,thediamondindustryandnongovernmentalorganizations.Weareencouragedbytheprogressthathasbeenmadesincethesystemwasputinplacein2003.Nevertheless,itisclearthatmuchworkremainstobedone.

Mostimportantly,Tiffany&Co.believes—alongwithmanyinthediamondindustry—thattheKimberleymandateshouldbeexpandedtoensurethathumanrightsabusesarenotassociatedwithdiamondmininginanymembercountry.Wealsourgechangesinthepeerreviewprocesstoprovideforindependentcomplianceassessmentandmonitoringthatavoidsconflictsofcommercialandpoliticalinterests.Finally,itisprudenttoreconsiderthecurrent“consensus”decision-makingprocessthatgovernstheKimberleyProcessandhas,attimes,provenchallengingforappropriateandtimelyresponsestononcompliance.

CONCeRNINGZIMBABWe

Tiffany&Co.joinsotherresponsiblejewelersincondemningthewidelyreportedhumanrightsabusesintheMarangediamonddistrictofZimbabweandurgesotherindustryparticipantstorefusetopurchasediamondssourcedfromthisdistrict.AlthoughthequalityofMarangediamondsgenerallyfallsbelowTiffany&Co.’sminimumqualitylevels,anddespitethefactthat,in2012,ZimbabwewasreinstatedasKimberleyProcesscompliant,wehaveadvisedallofourbusinesspartnersofourzero-tolerancepolicyfordiamonds fromZimbabwe.

DIAMOND SOURCING

In2014,Tiffany&Co.received100%*ofitsroughdiamondseitherdirectlyfromaknownmineorasupplierwithmultipleknownmines.OurroughdiamondsarecutandpolishedatLaureltonDiamondsfacilitiesaroundtheworld,orbyapprovedsubcontractorsthatparticipateintheTiffany&Co.SocialAccountabilityProgram.

Inrecentyears,approximately65–75%(bydollarvalue)ofthepolisheddiamondsusedinourjewelryhavebeenproducedfromroughdiamondsthattheCompanyhaspurchased.Tiffany&Co.purchasestheremainingpolisheddiamondsfromthird-partysuppliersthatcomplywiththeWorldDiamondCouncil’sSystemofWarranties,whichwasdevelopedtoextendtheKPCSassurancetopolisheddiamonds.OurpolisheddiamondsaresourcedinaccordancewithTiffany&Co. standardsforqualityandenvironmentalandsocialresponsibility,throughvendorparticipationintheTiffany&Co.SocialAccountabilityProgram.

TheKIMBeRLeyPROCeSS

TheKimberleyProcessCertificationScheme(KPCS)isaninternationalcooperativemonitoringsystemcreatedbygovernments,industryandcivilsocietytoeliminatetheflowof“conflictdiamonds”—roughdiamondsthataresold(andoftensmuggled)byrebelmovementstofinancewarsagainstlegitimategovernments.TheKPCSrequiresparticipatingcountriestotightlycontroltheimportandexportofroughdiamonds.Also,theKPCSrequiresgovernmentstoestablishcontrolsystemsoverprivatesectortradeinroughdiamonds.Tocomplywiththisprocess,roughdiamondsmayonlymoveamongparticipatingcountriesinsealedcontainerswithaccompanyingdocumentationevidencingthecountryofexport.

“As a prominent player in an industry that has a range of human rights challenges, Tiffany has been aggressive about ensuring respect for human rights in its supply chain.” —ARVINDGANeSAN,DIReCTOR–BUSINeSSANDhUMAN

RIGhTS,hUMANRIGhTSWATCh

*See the Report of Independent Accountants


http://www.hrw.org/

Diamond Sourcing at Tiffany & Co.

POLISHED DIAMONDS

JeWeLRyMANUFACTURING

ROUGH DIAMONDS PurchasedbyLaureltonDiamondsfromknownminesorsupplierswithmultipleknownmines,onlyfromthosecountriesthatareparticipantsintheKimberleyProcess

CertificationScheme

ThemajorityofroughdiamondspurchasedbyLaureltonDiamondsarecut

and polished internally

InternalManufacturing Approved Vendors

Tiffany&Co.purchasesremainingpolisheddiamondsfromsuppliersthat complywiththeWorldDiamondCouncil SystemofWarranties


Employees at the Laurelton Diamonds facility in Cambodia.Jean–Francois Perigois

DIAMOND CUTTING AND POLISHINGBy investing in diamond cutting and polishing, we seek to maintain the integrity of our supply chain while creating jobs, training unskilled workers, benefiting local economies and securing a critical supply of raw materials.

Tiffany&Co.cutsandpolishesroughdiamondsatstate-of-the-artLaureltonoperationsworldwide,whicharelocatedinBelgium,Botswana,Namibia,Mauritius,VietnamandCambodia.OurLaureltonlocationshirelocally,providerobusttrainingprograms,payfairwagesandofferasafeandrespectfulworkenvironmentforour employees.

FAIRWAGeS

Laureltoncollaborateswithoutsideconsultantsandacademicstoensurethatweprovideourskilledworkforceatouroverseasmanufacturinglocationsfairwagesforitswork.In2009,webeganconductinglivingwagestudiesatLaureltonlocationsoverseastoensurethat trainees are paid at or above minimum wage in the areaandskilledworkersreceivesalariesatandabovethe living wage.

Tiffany&Co.definesalivingwageastheratewhichisrequiredtosupportanemployee,meetfinancialobligationsoftheemployee’sdependentsandprovidesomediscretionaryincome.Thelivingwagereflectstheexpectationsoftheparticularsocietyatthetimethecalculationismade.Weadjustlivingwagesannually,basedonthecostoflivingineachlocation,andrefreshthefulllivingwageassessmentsevery5-7years.Laureltonmanagementrecentlyconductedanin-depthanalysisofourlivingwageprogramtoensurethattheprogramismeetingitsintendedgoaltoprovideworkerswithfairandequitablecompensation,andwecontinueto evaluate opportunities to evolve the program.

DIAMOND-PRODUCING COUNTRIES

Diamondscanbeagreatsourceofeconomicbenefitforcountrieswiththisrareresource.Infact,diamond-producingcountrieslikeBotswanaaremakingsurethattheircitizensbenefitfromtheseresourcesbykeepingmoreoftheirdiamondinfrastructure—andrelatedjobs—athome.

Ourstate-of-the-artdiamondcuttingandpolishingfacilityinthecityofGaboroneprovidesskilledjobsandsustainableincomestonearly150Batswana(citizensofBotswana),alongwithtraininganddevelopmentprogramsthathelpimprovethecapabilitiesof

individualworkersandtheeconomicpotentialofentirecommunities.eachyear,thewageswepayourworkersindiamond-producingcountriesprovidemillionsofdollarsinbeneficiation.

InCalendaryear2014,weprovidedover$79million*inbeneficiationtolocaleconomiesinBotswanaandNamibia,includingpaymentstolocalsuppliers,payroll,donationsandtaxes.Thisfigureissimilarto2013asBotswanaandNamibiahaveincreasedtheircapacityincuttingandpolishingoperationsasaresultoftheSouthAfricaclosurein2014.

Further,wehirelocalemployeestoworkin,andultimatelymanage,ourfacilities.Localemployeesmakeup86%*oftheworkforceinLaurelton’sfacilitiesinBotswana and Namibia.



GemstonesTiffany&Co.hasstrictprotocolsforthesourcingofgemstones.Wecurrentlysellapproximately

100varietiesofgemstonesinrelativelysmallquantitiesascomparedtothequantitiesof

diamondswesell.Duetothehighlyfragmentedandcomplexnatureofthegemstoneindustry,

traceabilitylevelsarenotthesameforgemstonesastheyarefordiamondsandpreciousmetals.

Byparticipatinginvariousdialogues,wehopetoimprovesector-widetraceabilitysothatthe

jewelryindustrymaybetterunderstandthepotentialsocial,environmentalandgovernance

risksofpreciousstonesupplychains.

Meanwhile,wecontinuouslyreviewoursupplychain,engagewithoursuppliersandconduct

researchonvariousgemstonesandproducercountriestoattempttofindwaystoachieve

greatertransparencyandbetterassureresponsiblesourcing.

BURMESE GEMSTONES

Rubies are among the world’s most desirable gemstones andmanyofthefinestspecimensareminedinBurma(Myanmar).In2003,theUnitedStatesenactedtheBurmeseFreedomandDemocracyActinresponsetothatnation’shumanrightsviolations,forbiddingtheimportationofproductsfromBurma,includingjadeiteandrubies.In2008,thepassageoftheTomLantosBlockBurmeseJunta’sAnti-Democraticefforts(JADe)Actstrengthenedthisprohibitionandclosedamajorloophole in the previous law that had permitted the importationofBurmeserubiesandjadeiteiftheywerecutandpolishedinothercountries.

Tiffany&Co.isoneofthefewretailjewelersthathaslongrespectedboththeletterandthespiritofthe2003Act.Sincethattime,wehaverefusedtobuygemstonesthatwecanreasonablyidentifyasbeingofBurmeseorigin,regardlessofwherethegemsarecutorpolished.WhiletheU.S.governmenthasrecentlyrelaxedthebanonmostimportsfromBurma,prohibitionsontheimportationofjadeiteandrubiesfromBurmaremainineffect.


MetalsTiffany & Co. is committed to using the influence of the Tiffany brand among consumers and within the jewelry industry to support responsible sourcing practices in the large-scale, recycled and artisanal mining sectors.

Thesilver,goldandplatinumsourceddirectlybyTiffany&Co.foruseinitsownworkshops

comefromtwoprincipalsources:in-ground,large-scaledepositsofmetalsthathavebeen

responsiblyminedandmetalsfromrecycledsources.Weobtainourdirectlysourcedmetals

primarilyfromtheU.S.inordertominimizeenvironmentalandsocialrisksinoursupplychain.

Wearealsoexploringthepossibilityofsourcingresponsiblymanaged,artisanallyminedmetals.

Theformalizationoftheartisanalminingsectorhasthepotentialtodramaticallyimprove

workingconditionsandwagesforitsminers.Webelievethatasustainablefutureforprecious

metalconsumptionultimatelydependsontheresponsibledevelopmentofallthreesourcesof

metals:large-scale,recycledandartisanal.

Responsible Mining |25

In2014,Tiffany&Co.traced99%*ofrawpreciousmetalsprocuredbyourmanufacturingfacilitieseitherdirectlytoamineorrecycler.

SILVERIn2014,Tiffany&Co.purchasedtherawsilverusedinourownmanufacturingfacilitiesfromtwoU.S.sources.65%*ofthissilverwassourcedfromtheBinghamCanyonMineinUtahasaby-productofanopen-pitcoppermine.Weprocuredtheremaining35%*fromrecycledsources,downfrom54%in2013.

GOLDIn2014,Tiffany&Co.purchasedtherawgoldusedinourownmanufacturingfacilitiesfromtwoU.S.sources.22%*ofthisgoldwassourcedfromtheBingham CanyonMineinUtahasaby-productofanopen-pitcoppermine.Weprocuredtheremaining78%*fromrecycledsources,upfrom64%in2013.

TheBinghamCanyonMineisanexistingminethatproducesgoldasaby-productofcopperminingusinganon-cyanideleachingextractionmethod.WhiletherearelegacyenvironmentalissuesfromoveracenturyofminingatBinghamCanyon,themine’sownersdeserverecognitionforactingresponsiblyandaggressivelytoaddress these issues.

PLATINUMIn2014,Tiffany&Co.purchasedtherawplatinumusedinourownmanufacturingfacilitiesfromtwocompanies.73%*ofthisplatinumwassourcedfromStillwaterMininginMontana.Weprocuredtheremaining27%fromaU.S.refinerwhichsourcesplatinumfromamixtureofminedandrecycledsources,downfrom35%in2013.

VeNDOR-CRAFTeDJeWeLRyANDCOMPONENTS

Tiffany&Co.manufacturesmorethanhalfofitsmerchandiseinitsownmanufacturingfacilitiesand,aspreviouslynoted,predominantlypurchasestherawmetalsdirectly.TheCompanyalsopurchasesfromthird-partyvendorscertaincomponentsforuseininternalmanufacturingaswellascertainfinishedgoods,andthesilver,goldandplatinuminthesecomponentsandfinishedgoodsarelargelyindependentlysourcedbythesethird-partyvendors.Weareworkingwithourvendorstoincreasinglysupplythemwithpreciousmetalsfromthesamesourcesthatweprocureourmetals.ThesevendorsparticipateintheTiffany&Co. SocialAccountabilityProgramandoperateinaccordancewithTiffany&Co.standardsforquality andenvironmentalandsocialresponsibility.

Traceability of Raw Metals Directly purchased*2014


63% TRACEABLE TO MINE

1% TRACEABLE ONLY TO SUPPLIER

36% RECYCLED


POSITION ON CONFLICT MINERALSTiffany&Co.hastakenaglobalapproachtoaddressingthemostpressingsocialandenvironmentalissuesfacingtheminingsector,withafocusonpreciousmetalsandgemstones.Webelievethatparticipatingin,andsupporting,rigorousstandards-settingeffortsandadvocatingformoreeffectiveoversightwillleadtoimprovedminingconditionsglobally,inthelongterm.

Wehavelongrecognizedthatinsomeplacesmininghasbeenassociatedwithviolence,humanrightsabuseandenvironmentaldegradation.however,whenmanagedresponsibly,miningcanbeasourceofsocialandeconomicdevelopment.ThesituationintheDemocraticRepublicofCongo(DRC)anditsadjoiningcountriesrepresentsboththechallengeandthepromiseofmining.Whilerecentestimatesindicatethatonly3–4%oftheworld’sgoldcomesfromthisregion,wearecommittedtodoingourparttocontributetoasolutionintheregion—boththroughourownvoluntaryinitiativesandbycomplyingwiththeconflictmineralsdiligenceanddisclosurerequirementsofSection1502oftheDodd-FrankWallStreetReformandConsumerProtectionAct(Dodd-Frank).Whileourcompany-wideconflictmineralscomplianceprocessaddressesgold,tantalum,tinandtungsten—themineralsidentifiedbySection1502ofDodd-Frankas“conflictminerals”—webelievethat,asajeweler,wehavethemostsignificantopportunitytoaddresstheimpactofgoldsourcing.

Tiffany & Co. has longstanding relationships with most ofitsvendorsandmanufacturesmorethanhalfofitsmerchandiseinitsownmanufacturingfacilities.For themajorityofourgold,theCompanyhasknowledgeofthemine,smelterorrefinerfromwhichthatgoldissourced.InconnectionwithourrequirementsunderDodd-Frank,wedevelopedaprocesstoevaluatetheriskofwhetherthegold,tantalum,tinandtungsteninoursupplychainwasoriginatingfromtheDRCanditsadjoiningcountriesandfuelingconflictinthatregion.Tiffany&Co.’sdisclosureunderDodd-Frank,includingboththeFormSDandtheConflictMineralsReport,canbefoundontheTiffany & Co. Investor Relations website.

TheBoardofDirectorsofTiffany&Co.hasalsoadoptedaConflictMineralsPolicyfortheCompany.ThispolicysetsforththeCompany’sexpectationsthatitsapplicablevendorscompleteannualtrainingonthepolicy,submitanannualconflictmineralssurveyandsourcefromasmelterorrefinerthathasobtaineda“conflict-free”designationwithanindependentprivatesectoraudit,suchasthosefromtheConflict-FreeSmelterProgram,the“GoodDelivery”listoftheLondonBullionMarketAssociationandtheResponsible

JewelleryCouncil’sChain-of-CustodyStandard.Thispolicyalsoincludesamechanismforvendors,employeesandotherstoreportconcernsregardingpotentialpolicyviolations.TheTiffany&Co.ConflictMineralsPolicydoesnotbanourvendorsfromsourcingmineralsfromtheDRCoradjoiningcountries;webelievesuchabanwouldadverselyimpacttheminingcommunitiesandbusinessesoperatingresponsiblyinthe region.

Further,theConflictMineralsPolicyarticulatesprinciplesforresponsiblegoldminingtoourvendors.Specifically,weencouragethem,whenselectingsourcesandminesoforiginforgold,toevaluatepotentialsourcesbyreferencetotheGolden Rules. The Golden Rulesareasetofcriteriaformoresociallyandenvironmentallyresponsiblemining,developedbyeARThWORKS’NoDirtyGoldcampaign.Tiffany&Co.wasthefirstjewelertoembracetheprinciplesofthe NoDirtyGoldcampaignin2005,andtheGoldenRules arebasedonbroadlyacceptedinternationalhumanrightslawsandbasicprinciplesofsustainabledevelopment.Tiffany&Co.iscommittedtoprovidingongoingtraininginlocallanguagestoitsvendors,andemployeeswholiaisewiththesevendors,whichhelps toensureanunderstandingoftheTiffany&Co.ConflictMineralsPolicy.

In2014,Tiffany&Co.wasidentifiedbytheenoughProjectasajewelryindustryleaderfortakingactiontosupportpeaceandconflict-freegoldtradeineasternCongo.WearepleasedthattheenoughProject,asarepresentativeofthenongovernmentalcommunity,recognizedourrobustconflictmineralprogramsandourcommitmenttosourcingandcraftingjewelryinwaysthataresociallyandenvironmentally responsible.



http://nodirtygold.earthworksaction.org/retailers/golden_rules/

“Tiffany & Co. has been an industry leader and an ally in

pushing for more responsible mining and metals production and

in taking action to protect Alaska’s Bristol Bay watershed from

large-scale mineral development.”—JeNNIFeRKRILL,exeCUTIVeDIReCTOR,eARThWORKS

Bristol Bay, Alaskaphotograph © copyright, Robert Glenn Ketchum, 2015


Mining and the environmentWeaspiretoleavebehindaworldeverybitasbeautifulandabundantastheonewe

inherited.Asaleaderinthejewelryindustry—boththroughadvocacyandexample—we

activelysupportmitigatingtheenvironmentalimpactsofminesbefore,duringandafter

theirusefullife.

PRESERVATION

AnintegralpartoftheTiffanybrandishelpingpreservethenaturalbeautythatsoclearlyinspiresus.Simplyput,webelievethattherearecertainspecialplaceswhereminingshouldnottakeplace.Wesaythisinspiteofitsimportancetoourbusinessandtheeconomic andsocialbenefitsthatminingcancontribute tocommunities.

LocatedinthefarnorthwestcorneroftheUnitedStates,BristolBay,Alaskaishometooneoftheworld’sgreatestremainingwildsalmonwatersheds—animportantsourceofincomeandfoodforlocalfishermen.Theproposed Pebble Mine would be among the world’s largestopen-pitgoldandcoppermines,sittingattheheadwatersofthiswatershed.Despitethebestofintentions,morethan175yearsofexperiencesourcingpreciousmetalstellsusthattherearecertainplaceswhereminingcannotbedonewithoutforeverdestroyinglandscapes,wildlifeandcommunities.

Thisecosystem,andthethousandsofjobsitprovides, istoopreciousandvaluabletoputatrisk.Tiffany&Co. wasoneofthefirstjewelerstosigntheBristolBayProtectionPledge,anddeclarethatshouldtheproposedPebbleMinebedeveloped,wewillnotsourcegold fromit. WeareproudtoworkwithBristolBaynativecommunities,concernedscientists,sportandcommercialfishermen,theconservationcommunity andthemanyAlaskanscommittedtoprotectingthis pristineandproductiveecosystem.Wealsosupport

theeffortoftheU.S.environmentalProtectionAgency(ePA)toexerciseitslegitimateauthorityundertheCleanWaterActtoprotecttheBristolBaywatershedbyprohibitingthedevelopmentofthePebbleMine.

Throughtheyears,wehaveworkedtoensurethatspecialplaceslikeBristolBayarepermanentlyprotectedfromminingandpreservedfortheenjoymentoffuturegenerationsbyraisingourvoiceinpublicforums:

•In1995,Tiffany&Co.urgedtheU.S.DepartmentoftheInteriornottoallowtheconstructionofagoldminethatthreatenedyellowstoneNationalPark. •In2004,Tiffany&Co.urgedtheU.S.ForestService,throughafull-pageadvertisementinThe Washington Post,todenyapermitfortheproposedRockCreekMineintheCabinetMountainsWildernessinMontanabecauseitwouldthreatentheregion’swaterandwildlife. •In2009,Tiffany&Co.placeditsfirstadvertisementinoppositiontotheproposedPebbleMineinBristolBay,AlaskainNational Jewelermagazine. •In2010,weplacedanotherfull-pageadinNational Geographicmagazinetoincreasepublicawarenessof this issue. •In2014,weplacedfull-pageadsinThe Washington Post, The Seattle Times and the San Francisco Chronicle applauding theePA’sprotectionofthispristineecosystem.


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SPACE: Washington Post PRINTED: 3/4/2014 16:57CATEGORY: PRINT SCALE: 65% IMAGES: TCo_Logo3_NewYorkSince1837_CMY100K.eps @ 116%FONTS: Sterling Display Roman, Sterling Text Roman, Sterling Text BoldTRAFFIC: Eloise PRODUCTION: Hall, Tyrone PLEASE CONTACT JENNIFER MCLAUGHLIN WITH PRODUCTION QUESTIONS 212-230-6790

WARNING: The fonts used in this ad are custom-designed fonts that have specific text ligatures and other custom specifications. Use of any substitution fonts will result in space and text errors

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ALL OThER COLORS.BLACK TYPE & LOGOS OVERPRINT ALL OThER COLORS IN TIFFANY & CO. ADS.

ALTERING OR FAILING TO FOLLOW ThE OVERPRINT SETTINGS WILL BE

CAUSE FOR A FULL MAKEGOOD.

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PROTECTING BRISTOL BAY

Tiffany & Co.’s 177 years of experience in sourcing exquisite gemstones and precious metals has taught us there are

certain places where mining cannot take place without damaging landscapes, wildlife, businesses, and communities.

Alaska’s Bristol Bay is one such place.

The Environmental Protection Agency has completed its final watershed assessment of the likely impact

of the proposed Pebble Mine on Bristol Bay, the world’s most productive salmon fishery. The science is clear

and leaves no doubt. The EPA’s comprehensive scientific review has confirmed that developing an enormous

gold and copper mine in the very heart of this healthy, productive ecosystem cannot be done without

destroying the streams and wetlands essential for a healthy salmon fishery, and endangering the livelihoods

of the thousands of people who depend upon it.

We applaud the Environmental Protection Agency’s responsible and prudent use of its clear authority under the

Clean Water Act to protect —for the benefit of all Americans for generations to come —this extraordinary

natural resource and the thousands of commercial and sport fishing jobs it supports. We know there will be other

gold and copper mines to develop. But we will never find a more majestic and productive place than Bristol Bay.

©T&

CO. 2

014

The Tiffany & Co. advertisement, which ran in TheWashingtonPost, The Seattle Times and the SanFranciscoChronicle in March 2014


STATeMeNTONhARDROCKMINING

historically,irresponsibleminingpracticesscarredoncebeautifullandscapes,andabandonedmineshaveleftbehindtoxiclegacies.Tiffany&Co.supportslegislativereformtoholdminesaccountableforresponsibleclosure.

WesupportreformingtheantiquatedU.S.GeneralMiningLawof1872andlegislationtoassistincleaningupabandonedhardrockmines.Weagreewithmanyintheenvironmentalcommunity,theminingindustryandCongressthatanoverhauloffederalmininglawis long overdue. Tiffany & Co. also understands that achievingmininglawreformwillrequirehardwork,negotiation,compromiseandcreativityinapublic,transparentprocess.

Miningonpubliclandsshouldbeaprivilegeandmustbecarefullymeasuredagainstalternativeuses,includingrecreationandconservation.Mostimportantly,werecognizethatsomepubliclandsaresimplynotsuitableformining,andtheirvalueforrecreationandconservationisfargreaterthantheirvalueasasourceofminerals.

Ifreformsaretosucceed,webelievethattaxpayersmustbefairlycompensatedformineralstakenfrompubliclands,protectionoftheenvironmentmustbeenhancedandbusinesscertaintyforcompaniesandcommunitiesdependentonminingmustbeimproved.

ThetoxiclegacyofabandonedminesintheAmericanWestisalsoamatterofgreatconcerntoTiffany&Co.Wesupporttheimportantworkof“GoodSamaritans”—governmententities,NGOs,privatepartiesandotherorganizations—whovoluntarilycleanupmine-relatedpollution.WeareencouragedbyrecentePApolicychangestoprovideadditionallegalprotectionsforthese“GoodSamaritans”andarehopefulthatthesechangeswillproveeffectiveontheground.Still,werecognizethatmuchworkremainstobedonetoeffectivelydealwiththeseminesandtoestablishapermanentsourceoffundingfortheircleanup.

THE TIFFANY & CO. FOUNDATION: ABANDONED MINE RECLAMATION

The Tiffany & Co. Foundation’s Responsible Mining Programsupportsnonprofitorganizationsastheyremediatelandandwatershedsaffectedbyhistoricmining.TheseorganizationshavemadegreatstridesinsettinganexampleforhowGoodSamaritancleanupcanbedonewithcollaborationfromlocalcommunitiesandgovernment.Thesecollaborationsarereversing theeffectsofabandonedmineswhichpreviouslyleacheddamagingchemicalssothatnearbybodiesofwaterandwildlifehabitatsaresafe,healthyecosystemsonceagain.

photograph © copyright, Robert Glenn Ketchum, 2015 Bristol Bay, Alaska



photograph © copyright, Robert Glenn Ketchum, 2015

ethical SourcingTiffany&Co.understandsthatourbusinessactivitiesaffecttheearth,itsresourcesandthe

communitieswhereweoperate.Werecognizetheimportanceofhavingaclearunderstanding

ofoursupplychainandtheoriginsofourmaterials.Therefore,weworktoensurethatall

merchandiseandpackagingmeetthesameethicalstandardsasthesourcingofourprecious

metals and gemstones.

PAPeR&PACKAGING

Wearecommittedtosourcingourpackagingmaterialsandproducingourcataloguesfromresponsiblesources,includingFSC®-certifiedforestsandrecycledmaterials.

BLUE BOXES AND BAGS

Wearecommittedtoresponsiblysourcingnotonlyourjewelry,butalsotheiconicBlueBoxesandbagsinwhichitispresented.

ToensurethatthepaperforouriconicTiffanyBlueBoxesandbagsisresponsiblysourced,100%*of papersuppliersforBlueBoxesandbagsin2014were FSC®-certified.

In2014,theTiffanyBlueBox®wasmadewithmorethan89%ofcontentfromrecycledsources,including81%frompost-consumerrecycledcontent.Today,notonlyisourTiffanyBluebagsourcedresponsibly,itisalsomadewith50%post-consumerrecycledcontent.

Wecontinuouslystrivetoreduceourenvironmentalfootprintaswesetanexampleforourindustrypartnersandencouragethepreservationofendangered forestsworldwide.

FOReSTSTeWARDShIPCOUNCIL®(FSC®)

The ForestStewardshipCouncil®isanindependent,nongovernmentalorganizationestablished to promote the responsible managementoftheworld’sforests.TheFSC®isathird-partycertificationsystemthatevaluatesforestmanagementactivities(forestcertification)andthetrackingofforestproductsthroughfactoriestothemarketplace(chain-of-custodycertification).FSC®certificationassuresthatwoodandpaperproductscomefromrenewableandwell-managedresources.

FSC® and the FSC® logo are registered trademarks of the Forest Stewardship Council.

“Tiffany & Co. has demonstrated proactive leadership in minimizing its forest footprint. Tiffany & Co. responds quickly to global supply chain challenges; we’ve seen the company fast track a review of its suppliers and eliminate controversial fiber and suppliers in its procurement. This leadership was further evidenced when it engaged peers publicly, describing what Tiffany & Co. had done and why, and encouraged its colleagues to join in helping to protect endangered forests in Indonesia and around the world.” —LAFCADIOCORTeSI,ASIADIReCTOR,RAINFOReSTACTIONNeTWORK


Ethical Sourcing | 33

https://us.fsc.org/

http://www.ran.org/

Tiffany & Co. Blue Bag2004–Today

2004Toensurepaperproducts arefromresponsiblesources, Tiffany&Co.beginsrequestingthird-partycertifications,withapreferenceforForestStewardshipCouncil®(FSC®)certification

2010100%ofTiffanyBluebagsareFSC®-certified

2005Tiffany&Co.collaborateswith a leading paper mill to developanFSC®-certifiedpaperforuseinhigh-endprinting,whichbecomestheindustrystandard

2008ThecoatingontheTiffanyBluebagisswitchedtoabiodegradablefilm,makingit100%recyclable

Today Tiffany Blue bags areFSC®-certified,madewith50%post-consumerrecycledcontentand fullyrecyclable

2007 Tiffany & Co. begins usingFSC®-certifiedpaperin the Tiffany Blue bag

CATALOGUES AND STATIONERY

Recognizingtheenvironmentalandsocialimpactsofpaperproductsovertheirlifecycles,weaimtoconsiderfactorssuchasresponsibleforestmanagement,recycledcontent,cleanproduction,carbonemissionsandthesocialresponsibilityofsuppliersinourcatalogueandstationerypurchasingdecisions.In2015,wewillcommunicatethisPaperPromisetooursupplierstoencouragecontinualimprovement.Wealsoplantodevelopatrainingandguidanceprogramonresponsiblepapersourcingpracticesforapplicableemployees and suppliers.

Already,thevastmajorityofourcataloguesareproducedcentrallyusingpaperfromFSC®-certifiedpapersuppliers.In2014,weformalizedourprocessesandnowrequireallnewglobalpapervendorsforprintpiecestohaveFSC®certification.

Our goal is to use 100% FSC®-certified paper in all of our print pieces.

Wecontinuallymonitoradvancementsintheproductionofrecycledpapertoidentifyopportunitiestoincorporatehighqualitypaperwithgreater recycledcontent.

Thisyear,webeganaregionalprintingstrategyforcataloguesandcollateral.Byprintingmaterialsclosertothepointofdistribution,wecanreducetheenvironmentalimpactsofshipping.Justasimportantly,weworktolimitthenumberofcataloguesproducedandmailed.Customerswhopreferdigitalmedia

overtraditionalcataloguesareofferedemailcommunicationsandelectroniccatalogues.WealsoparticipateintheCatalogChoiceprogram,whichallowscustomerstocontrolthecataloguestheyreceive.

IntheUnitedStates,weintroducedathermographystationeryprogramwhichusesmoreenvironmentallyresponsible,water-basedinks.Wearecontinuing toexpandthisprograminternationallyin2015tofurtherreducetheenvironmentalimpactofourprinted materials.

PACKINGANDShIPPINGMATeRIALS

Weworktominimizetheenvironmentalimpactofourpackingandshippingmaterials.Thecorrugatedboxes,tissuepaperandbubblewrapweusecontainbetween60–100%recycledcontent,andarerecyclablewherefacilitiesexist.

Duetotheintroductionofmoreefficientpackagingmethodsin2012,productslikeourcrystalandchinaarenolongerpackagedwithtissuepaperandarenowprotectedbybubblewrapmadewithapproximately50%lessrawmaterialscomparedtopreviousyears.

34 | Ethical Sourcing

https://www.catalogchoice.org/

AFRAMeWORKFORRAWMATeRIALSOURCINGThechoiceofcomponentsandrawmaterialsusedinourproductsiskeytosafeguardingthenaturalresourcesandenvironmentalserviceswetreasure andrelyon.Asaleaderinsustainableluxury, Tiffany&Co.mustcarefullymanagethesechallengeswhilemaintainingourunsurpassedstandardsforqualityanddesign.Formanyyears,theseprincipleshaveweighedheavilyindecisionsonhowtosource,orwhetherornottouse,certainmaterialslikeleather,pearlsorcoralinourdesigns.

eachmaterialrequiresthoughtfulduediligence,withdifferentchallengesandopportunitiesfordifferentsupplychains.Itisimportanttoconsiderhowtherawmaterialisprocured,howitiscrafted,thesustainabilityofthesourceandculturalimplications,amongotherfactors.Forexample,specialconsiderationsneedtobemadeforthesustainabilityandviabilityoforganicorlivingmaterials,takingintoaccountlistingssuchasthe Convention on International Trade in Endangered Species(CITeS)AppendicesandtheInternationalUnionforConservationofNature(IUCN)RedList.

Toenhanceourresponsiblesourcinginitiatives,wearesettingthegroundworkforearlyreviewsofenvironmental,socialandgovernanceimpactsduringproductdevelopmentanddesign.

LEATHERTraceabilityofourleatheriskeytoensuringthatsuppliersmeetthemostethicalandenvironmentalstandards.In2014,forourleatheraccessoriesline,wewereabletotracethesourceofallleathertoatleastthetannerylevelandallexoticleathers(crocodileandostrich)totheirfarmoforigin.

TheLeATheRWORKINGGROUP(LWG)

Tiffany&Co.isamemberoftheLeatherWorking Group.TheLeatherWorkingGroupwasformedin 2005tocreateaprotocoltoaccuratelyassessthecomplianceandenvironmentalstewardshippractices oftanneriesandtopromotesustainableandappropriateenvironmentalbusinesspractices within the leather industry.

PEARLS Tiffany&Co.sourcesnaturalandculturedfreshwaterandsaltwaterpearlsproducedbyavarietyofmolluskspecies.AmongourpearlcollectionarefineSouthSea,TahitianandAkoyavarietiesfromaroundtheworld.Recentdemandforpearlshasfocusedattentiononthepotentialenvironmentalrisksoffreshwaterpearlfarmingincludingimproperdisposalofnutrients,chemicalsandwaste.yetexcellentwaterqualityatapearlfarmleadstoexcellentqualitypearls,andhealthieroceans.Infact,pearlfarmersareoftenleadersoftheirlocalenvironmentalmovement.Webelieveenvironmentalstewardshipcanbeanintegratedaspectofresponsiblepearlfarming,leadingtosustainablelong-term growth in vulnerable areas.

IVORY

Tiffany&Co.hasnotusedivoryformanyyears.however,historically,weregrettablyusedelephantivoryinourdesignsatatimewhentheconsequencesoftheivorytradewerepoorlyunderstoodbythejewelryindustryandbroaderglobalcommunity.Whiletheimpactsarenowwellunderstoodanddeplorable,ouruseofivoryisapartofourhistory.Astheindustrycontinuestoevolveandembracesustainableandresponsiblesourcingprinciples,demandforivorymustbecurbedinordertoseerealchange.Wecommendrecentinternationaleffortstobothstemthedemandofivoryandtocurbpoaching.

CORAL

One-thirdofmarinespeciesspendpartoftheirlifecycleincoral,whichitselfisalivinganimal.Recognizingthatunsustainablecoralharvestingcandamagecriticallyimportantmarineecosystems,andthatmanycoralspeciesfaceavarietyofthreats,Tiffany&Co.hasrefusedto usecoralinjewelrysince2002.In2008, MichaelJ.Kowalski,ourChairmanandtheformerCeOofTiffany&Co.,testifiedbeforeCongressabouttheneedfortheprotectionofcoral.


http://www.leatherworkinggroup.com/

http://www.leatherworkinggroup.com/

SUPPLIER RESPONSIBILITY Tiffany&Co.facilities—includingthosefordiamondcuttingandpolishing,jewelrycraftinganddistribution—operateatthehigheststandards.TherigorousstandardsoftheTiffany&Co.SocialAccountabilityProgramandourVendorCode ofConducthelpustoensurethatourvendorsdo the same.

THE TIFFANY & CO. SOCIAL ACCOUNTABILITY PROGRAM

Allofoursuppliersareexpected,ataminimum,toconductbusinessinanethicalmannerandtocomplywithapplicablelawsandregulations.

TheSocialAccountabilityProgramhelpsto furtherensurethatvendorsprovidingtheCompanywithfinishedgoods,components,leather,polisheddiamondsandpackagingmaterialsareheldto theexactingstandardsthatTiffany&Co.isproud to uphold.

Forexample,ithelpstoensurethatoursuppliersprotectbasichumanrights.Theprogramreviewsoursuppliers’performanceinrelationto:hoursofwork,wagesandbenefits,healthandsafety,freedomofassociationandcollectivebargaining,transparency,childlabor,forcedlabor,harassmentorabuse,disciplinarypractices,discriminationandenvironmentalprotection.

In2014,Tiffany&Co.begananinternalassessmentoftheSocialAccountabilityProgram,recognizingthatourbusinessandglobalsupplychainscontinuouslyevolve.Asaresult,wearecurrentlyaddressingprogramenhancementopportunitiessothattheyareinplaceforthestartofthe2016–2017auditcycle.Thesechangesincluderefiningandexpandingcriteriaforinclusionandtheprocessforintroducingnewvendorsintotheprogram.Continuousevolutionofthisprogramwillhelpustofurtheridentifyandassessrisksinourglobalsupplychain.

VENDOR CODE OF CONDUCT

Toensurethatasuppliermeetsourrigorousdemands,suppliersintheSocialAccountabilityProgrammustabidebytheTiffany&Co.VendorCodeofConduct—adocumentwhichcommunicatesourvaluesandexpectationsforourbusinesspartners.Weexpectvendorstoholdtheirsub-contractorstothesesamestandards,whicharedisclosedthroughourVendorCodeofConduct.

Tiffany&Co.auditsareconductedoveratwo-yearcycle.Duringanauditcycle,weplantoconducta third-partyauditofallhigh-riskandselectlow-andmedium-riskvendorstocomplementourinternalaudits.Theriskclassificationisdeterminedbyareviewofthevendor’sself-assessment,industryandgeographic location.Thecurrentauditcycleis2014–2015.Bytheendofthefirstquarterof2015,88%ofhigh-riskvendorswereaudited.TheCompanyisontracktoaudittheremaininghigh-riskvendorsbytheendof2015.

CALIFORNIA TRANSPARENCY INSUPPLyChAINSACT(SB657)

Aspreviouslyreferenced,Tiffany&Co.hasasupplychainauditingprogram.ThisprogramaddressestherisksofhumantraffickingandslaveryforsuppliersintheSocialAccountabilityProgram.Ourauditsareconductedbothinternallyandbyathirdparty.Third-partyverificationisrequiredofallofourhigh-risksuppliersintheSocialAccountabilityProgram,determinedbyareviewofthevendor’sself-assessment,industryandgeographiclocation.

AuditsareconductedtoevaluatecompliancewiththeTiffany&Co.VendorCodeofConductaswellaslocaland international labor laws and regulations.

WhenavendorfailstomeetTiffany&Co.requirements,everyeffortismadetoworkwithsuchvendortoimplementcorrectiveaction.Ifthevendorcontinuestofailtomeetourrequirements,therelationship may be terminated.

Tiffany&Co.supplychainmanagementhasreceivedtrainingonourSocialAccountabilityProgram,whichincludesmitigatingrisksofhumantraffickingandslaverywithinoursupplychain.WerequireallemployeeswhoworkonsupplychainmanagementtounderstandTiffany&Co.’sSocialAccountabilityProgramandVendorCodeofConduct.Aswithallallegedviolationsofpolicy,employeesaretrainedtoinvestigateissuesandtakeappropriateactionuptoandincludingterminatingagreementswithvendorswhohavedemonstratedegregiousoruncorrectedmaterialviolations.


Supplier Assessment Cycle

VENDOR CODE OF CONDUCT NewvendorssigntheVendorCodeofConduct

ANNUAL VENDOR SELF-ASSESSMENTeachvendorassessesitsperformanceandhowitcomplies

withtheVendorCodeofConduct

ASSIGNMeNTOFRISKRATINGTiffany&Co.assignsaratingofLow,Mediumorhigh

THIRD-PARTY AUDITSAllhigh-riskvendorsareauditedduringatwo-yearcycle

TIFFANY & CO. AUDITSSamplingofmedium-andlow-riskvendorsareaudited

duringatwo-yearcycle

ReMeDIATION,ASNeeDeDVendors must remediate issues identified

duringtheauditcycle

RELATIONSHIP RE-EVALUATEDFailure to meet Tiffany & Co. standards may lead to termination

Ethical Sourcing | 39

GovernanceTiffany&Co.adherestosoundcorporategovernanceprinciplesandisstructuredtoenable

continuedimprovementandleadershiponkeysustainabilityissues.OurDirectors,officers

andemployeesarecommittedtotheethicalprinciplesembodiedwithinourCompany

practicesandstandards.

“Realizing the importance of corporate social responsibility to the sustainable

growth of the business, employee engagement and customer satisfaction, the Board of

Directors established the Corporate Social Responsibility Committee to ensure that we

remain committed and focused on environmentally and socially responsible practices.” —LAWReNCeK.FISh,ChAIRMAN–CORPORATeSOCIALReSPONSIBILITyCOMMITTee, TIFFANY & CO. BOARD OF DIRECTORS

Governance | 41

INTEGRATING SUSTAINABILITY CorporateresponsibilityhaslongbeenapriorityofTiffany&Co.Asleadingpracticeshaveevolved, wehaveenhancedourmanagementstructureandinternalprocessestoenablecontinuedimprovementandleadershiponkeysustainabilityissues.

Tiffany & Co.’s new CEO appointed the Company’s firstChiefSustainabilityOfficer(CSO)in2015 tosignifytheimportanceofsustainabilitytoourbusinessandourcommitmenttoleadershipon keysocialandenvironmentalissues.TheCSOwill conveneanewlyestablished,cross-functional councilofinternalbusinessleaderstoadvanceourcorporateresponsibilityobjectivesthroughfurtherintegration and alignment with our long-term businessobjectives.

CORPORATE SOCIAL RESPONSIBILITY COMMITTEE OF THE BOARDSustainability leadership starts at the top with our Board of Directors, which has a standing Corporate Social Responsibility Committee.

UnderscoringtheimportanceofsustainabilityandcorporateresponsibilitytoTiffany&Co.,theBoardofDirectorsestablishedaCorporateSocialResponsibilityCommittee(CSRCommittee)in2009.

TheroleoftheCSRCommitteeistoreviewandevaluateManagement’sgoals,initiativesandpracticesforsocialresponsibilityandtorecommendgoals,initiativesandpracticesforsocialresponsibilitytothefullBoardofDirectors.

TheCommitteeidentifieskeyenvironmentalandsocialresponsibilityissuesthatmayaffectthebusiness,brandimageandreputationoftheCompany,andprovidesoversightofcorporateresponsibilityprograms.To viewthefullcharteroftheCSRCommittee,visittheTiffany & Co. Investor Relations website.

POLICIES AND PROCEDURES

The Tiffany&Co.CodeofBusinessandethicalConductforDirectors,theChiefexecutiveOfficer,theChiefFinancialOfficerandAllOtherOfficersoftheCompanyprovidesprinciplestowhichthesepersonsareexpectedtoadhereandtoadvocateintheperformanceoftheircorporateduties.

The Tiffany&Co.BusinessConductPolicysetsforthexpectationsofouremployees,includingcompliancewithlawsandregulations.Itprohibitspaymentofbribesortheacceptanceofinappropriatepayments

Setsthestrategicsustainabilityagenda,anddevelopscorporateresponsibility

initiativesfortheCompanytobetterensurecontinuousimprovementofsocialand

environmentalperformance,andalignment withlong-termbusinessobjectives

CSR COMMittee Of the bOaRd Of diReCtORS

fRÉdÉRiC CuMenalChief eXeCutiVe OffiCeR

aniSa kaMadOli COStaChief SuStainablity OffiCeR

42 | Governance


http://files.shareholder.com/downloads/TIF/55818268x0x135004/bc4f3d46-d02e-43a1-92a2-c33857508790/TIF_WebDoc_2700.pdf



http://files.shareholder.com/downloads/TIF/55818268x0x135004/BC4F3D46-D02E-43A1-92A2-C33857508790/TIF_WebDoc_2700.pdf

andgifts.ThepolicyalsosetsexpectationsinareassuchaspotentialconflictsofinterestanduseofCompanyfundsforpoliticalcontributions.Allemployeesarerequiredtoreviewthepolicyuponhireandthereafteronanannualbasis.exceptwhereprohibitedbylocallaw,employeesmustconfirmtheirunderstandingofthepolicyandeitherconfirmtheircompliancewiththispolicyorreportanyexceptionsorviolationsofwhichtheyareaware.

Tiffany & Co. provides employees with means to anonymouslyreportethicalorotherconcerns.Thesemechanismsareavailableglobally,exceptwhereprohibitedbylocallaw.Mattersreportedthroughthesemechanismsareevaluatedand,ifnecessary,investigated and remediated as appropriate.

Thefollowingkeypracticesareembeddedwithinouroperationstoenhanceourpoliciesandproceduresrelatingtoenvironmentalprotectionandsocialimpacts:

•employeetrainingonandacknowledgementoftheTiffany&Co.BusinessConductPolicy •AnnualtrainingontheForeignCorruptPracticesActforemployeeswhoseresponsibilitiesarelikelytoinvolveinteractionswithgovernmentofficials •RespondingtomattersraisedthroughtheCompany’sconfidentialreportingmechanisms(reviewedbytheAuditCommitteeoftheBoardofDirectors) •CompletionofannualOfficer’sQuestionnairetoidentifypotentialconflictsofinterest •AcknowledgementoftheCompany’sVendorCodeofConductbyvendorsinvolvedintheCompany’smanufacturingandmerchandisesourcingprocesses •ReviewingCompanyandvendormanufacturingfacilitiesagainsttheSocialAccountabilityProgram •VendorreviewandacknowledgmentoftheCompany’sConflictMineralsPolicyforthesourcingofgold,tantalum,tinandtungsten •ConductingouroperationsinaccordancewiththeResponsibleJewelleryCouncil(RJC)PrinciplesandCodeofPractices(toobtainacopyoftheTiffany & Co. Responsible Jewellery Council Code of Practices Policy – Worldwide,[email protected]) •AdheringtoTiffany&Co.Safety,healthandenvironmentalPoliciesandProceduresforretailandnon-retaillocations

TheTiffany&Co.InternalAuditDepartment,whichreportstotheAuditCommitteeoftheBoardofDirectors,providesindependent,objectiveassuranceandcontroladvisoryservicestotheCompanytoevaluatetheeffectivenessofriskmanagement,controlandgovernanceprocesses.TheInternal

AuditDepartment,incollaborationwithotherkeydepartments,alsoprovidesoversightandguidancerelatedtoapplicablelaws,regulationsandCompanypoliciestofosterapositiveandethicalworkenvironmentforemployees.

POLITICAL CONTRIBUTIONS AND LOBBYINGTiffany&Co.hasadvocatedforanumberofimportantpolicydecisionsbeforevariousUnitedStatesgovernmentauthorities.Forexample,theCompanyhaslobbiedforthereformofU.S.mininglawstoadvancemoreenvironmentallyresponsibleminingtechniques,toencouragethecleanupofabandonedminesintheAmericanWestandtoprotectareasofexceptionalnaturalorculturalvaluefromminedevelopment.

Companypolicystrictlylimitspoliticalspending. TheTiffany&Co.BoardofDirectorsadoptedtheTiffany&Co.PrinciplesGoverningCorporatePolitical Spendingin2011.TheseprinciplesapplygloballytoTiffany&Co.anditscontrolledaffiliates.The2014AnnualPoliticalSpendingDisclosure was reported to theCSRCommitteeoftheBoardinMarch2015andcanbefoundontheInvestorRelationswebsite.

Governance | 43

mailto:[email protected]

http://files.shareholder.com/downloads/TIF/55818268x0x529848/06A85E76-278D-4D2F-B831-51234C35BA87/TIF_WebDoc_9900.pdf

http://files.shareholder.com/downloads/TIF/55818268x0x529848/06A85E76-278D-4D2F-B831-51234C35BA87/TIF_WebDoc_9900.pdf

http://files.shareholder.com/downloads/TIF/55818268x0x652621/37DFE099-D3E7-4558-8ECC-A92471F6E5AD/TIF_WebDoc_12128.pdf

The Tiffany & Co. Fifth Avenue flagship store in New York City.

Building FootprintWhileourinternaloperationsdonothavealargeenvironmentalimpact,wearetaking

importantstepsaroundtheworldtoevolveourworkplacetobemoresustainable.

energyconservation,greenbuildingprinciples,renewableenergyuseandproactive

environmentalmanagementareessentialpillarsofgreeningourworkplace.

Building Footprint | 45

GREENHOUSE GAS EMISSIONSAlthoughwearenotalargegreenhousegas(GhG)emitter,wearecommittedtounderstandingandreducingourimpactonclimatechange.Weannuallycompleteadirect(Scope1)andindirect(Scope2)GhGemissionsinventoryforourglobaloperations.Our2014globalinventoryincludesemissionsfrommorethan295storesandboutiques;distributioncenters;manufacturinganddiamonddivisionfacilities;anddomesticandinternationalofficesandrepairfacilities. Following the successful completion of our 2006–2011 U.S. emissions reduction goal, Tiffany & Co. committed to reducing total global GHG emissions by 15% from 2013 to 2020.

Weplantoachievethisgoalthroughthreeprimarymethods:renovationandupgradingofexistingfacilities,expansionofourrenewableenergyportfolioandconstructingnewstoresandfacilitieswithenergyefficientbuildingsystems.

WhileourglobalScope1and2emissionsincreasedby7%from2013,emissionspersquarefootdecreasedby 1%overthesameperiod.Theabsoluteincreaseisinpartduetoan8%growthinglobalbuildingareafrom theopeningofnewretailandmanufacturinglocations.Despitethisincrease,weareencouragedbytheimpactofrecentandongoingenergyefficiencyinitiatives.

Wewillcontinuetomonitorourenergyandemissionsandevaluateopportunitiestoimproveefficiencybyimplementingenergy-savingprojectssuchasheating,ventilationandairconditioningupgrades,lightingretrofitsandinstallingenergyrecoveryventilators.

In2015,theU.S.environmentalProtectionAgency(ePA)honoredTiffany&Co.withaClimateLeadershipAwardforGreenhouseGasManagement–GoalSetting.TheawardrecognizestheaggressivenatureofTiffany&Co.’ssecond-generation goal.

Global Greenhouse Gas emissions by Building Type2014

50% RETAIL

7% OFFICES

43% OTheR(e.g. , MANUFACTURING, WARehOUSe,MIxeDUSe)

46 | Building Footprint

† The 2013 greenhouse gas emissions were revised due to an update to the Company’s greenhouse gas emissions calculation methodology. For purposes of presenting comparative emissions performance data above, reported emissions for 2013 decreased by 6.94% to 43,306 metric tons, as compared to what was previously reported, primarily as a result of updating the baseline data used to calculate estimated emissions.


Indirect (Scope 2)Direct (Scope 1)

Met

ric T

ons o

f Co

2 equ

ival

ent

2013† 2014* 2015 2016 2017 2020

10,000

20,000

40,000

50,000

02018 2019

30,000

Global Greenhouse Gas emissions and Goal2013–2020

2020 GOAL: 15% REDUCTION

43,429

40,75043,306

46,388

2,556 2,959

Global energy and emissions performance Summary

eNeRGyUSe(MWh)

SCOPe1AND2eMISSIONS(MetricTonsofCO2e)

CARBONINTeNSITy:ReVeNUe(MetricTonsofCO2e/$MMRevenue)

CARBONINTeNSITy:BUILDINGAReA(PoundsofCO2e/SquareFoot)

2013†

107,918

43,306

10.7

34.2

2014

115,060

46,388*

10.9

34.0*

PERCENT CHANGE

7%

7%

2%

-1%

43,429

40,750


ENERGY EFFICIENCY AND CARBON REDUCTION PROGRAMS

RETAIL LIGHTING

Followingapilotprojectin2010,weexpandedaninitiativetoreplaceenergy-intensivelightsinourretaildisplayswithefficientLeDlights,initiallyintheUnitedStates,andbeginninginternationallyin2014.Duetothesuccessofthisprogram,theretrofitprojectwasexpandedtoincludeLeDoverheadlighting.Bytheendof2014,over30retaillocationswereretrofittedwithLeDoverheadlighting,withanadditional35-40locationsplannedin2015.Also,beginningin2015,allnewstoresworldwidewillbefullyoutfittedwithLeDlighting throughout the store.

heATING,VeNTILATIONANDAIRCONDITIONING

In2013,weembarkedonaprogramtoimprovetheefficiencyofourheatingandcooling,withagoalofreducingourenergyconsumptioninourretailoperations.In2014,locationsreceivedmajormechanicalandbuildingcontrolsystemscomponent upgrades,resultinginmoreefficientsystemsandthusenergysavingsatthoselocations.

AtourNewyorkflagshipstore,aircontrolimprovementsbeinginstalledin2015areexpectedtoreduceenergyconsumptionbyapproximately11%annually.Theresultingestimatedreductionsof340tonsofCO2eperyearareequivalenttotaking72U.S.carsofftheroad.

Our store in Dublin, Ireland where energy-efficient LED lights replaced less efficient lighting as part of a new renovation. Projects like this are expected to reduce total store energy use by approximately 20–25%.

Tiffany&Co.supportsfederalandstateeffortstoaddresstherootcausesofhuman-inducedclimatechange.Aspartofourcommitmenttoprotectfuturegenerationsfromtheimpactofclimatechange,weresignedfromtheU.S.ChamberofCommercetoexpressourdisappointmentintheChamber’sapproachtolegislationandregulatoryeffortstoaddressclimatechange.

48 | Building Footprint

OFFICE TECHNOLOGY

Aswithmanybusinesses,computerscanaccountforthemajorityofanoffice’senergyconsumptionafterbuildingoperations.efficiencysettingsandenergyratingslikeenergyStar®areanimportantconsiderationwhenpurchasingandinstallingourcomputers.Webeganaglobalprojectin2012toupgradelessefficientcomputerswithmoreenergy-efficientones.Bytheendof2014,theprojectwasmorethan95%complete.Wearealsosavingenergyatourdatacentersthroughtheconsolidationandimplementationofenergy-efficientserversandbyinstallingefficientcoolingsystems.

CDP CLIMATE CHANGE PROGRAMSince2006,Tiffany&Co.hasbeenarespondingcompanytotheCDPClimateChangeRequest,avoluntarydisclosuremechanismthatgathersinformationonthebusinessrisksandopportunitiespresentedbyclimatechange,aswellasGhGemissionsdata,fromtheworld’slargestcompanies.FordetailedinformationonourGhGemissionreductioneffortsandreportingmethodology,pleaseseeourresponsetothe2015CDPClimateChangeRequestatwww.cdp.net.

ReNeWABLeeNeRGyToreducecarbonemissionsfromelectricitygenerationandcontributetotheelectricityneedsofourfacilities,wegenerateandpurchaserenewablesolarenergyandperiodicallypurchasewindenergy.

Beginningin2006,weinstallednearly2MWofsolarpoweracrossourtwodistributionfacilitiesinNewJersey.In2012,weinstalleda250kWphotovoltaicsystematourRhodeIslandmanufacturingfacility,andin2014,weinstalleda144kWphotovoltaicsystematournewCambodiadiamondcuttingandpolishingfacility.Together,thesesystemsgeneratedover2,356MWhofsolarenergyin2014,ofwhichwesold1,286MWhtothirdparties.Theenergyproducedhelpedtoavoidtheamountofemissionsequivalenttothecarbonsequesteredannuallyby1,332acresofU.S.forests.

LeeD®(LeADeRShIPINeNeRGyANDeNVIRONMeNTALDeSIGN)

Weworktoincorporatesustainablebuildingdesigncriteriaintoourfacilities.Forinstance,wesourcemanybuildingmaterialslocallyandusesustainablewoodsourcesandrecycledmaterials.Aswebuildorrenovateglobalretail,officeandmanufacturingspaces,LeeDcertificationisonewaywemeasuretheenvironmentalattributesofourfacilities.

•2011–TheTiffany&Co.SantaMonicaretailstorebecameourfirstLeeDcertifiedfacility.ItisLeeDGoldcertifiedforCommercialInteriors. •2011–OurNewyorkheadquarterswasconsolidatedandisnowLeeDPlatinumcertifiedforCommercialInteriors.ThisconsolidationminimizesenvironmentalimpactsandreducedthetotalannualScope1and2 emissionsfromourheadquartersin2012by23%comparedto2010. •2013–OurmanufacturingfacilityinKentuckywasLeeDSilvercertifiedforNewConstruction. •2014–LaureltonDiamondsCambodia,ournewestdiamondcuttingandpolishingcampus,isLeeDCertifiedforNewConstruction,makingitoneofCambodia’sfirstLeeDcertifiedbuildings.Inordertoreduceitsenvironmentalimpacts,thenewfacilityhasasolararraycoveringitsmotorbikeparking,occupancysensorsonlightingandaroofdesignedtoreflectmoresunlight and absorb less heat.

ENVIRONMENTAL MANAGEMENTTiffany&Co.workstocomplywithapplicableenvironmentallawsandregulations.Wehaveinternalguidelinesforourfacilitiesandprogramsforouremployeestoensuretheirknowledgeofregulations,theproperdisposalofwasteandrespectforlocalcommunitiesandenvironments.Ourenvironmentalmanagementpracticesalsoincludecollectingwasteandwaterdatafromourglobalnon-retaillocations.Wemonitorourimpactsandlookforfurtheropportunitiestostandardizebestpracticesandenhanceourenvironmentalperformance.

Weensurethatwasteisrecycledwherepossible.Forexample,corrugatewastefromourwarehouseanddistributionfacilitiesinNewJerseyisdivertedtoaclosed-looprecyclingprogram.Thematerialisrefinedandremanufacturedintonewcartonsforuseinoursupplychainwhichhasthepotentialtosaveupto5,500trees,680cubicyardsoflandfillspaceand1.4milliongallonsofwaterannually(morethanenoughtofilltwoOlympic-sizedswimmingpools).

LEED,themostwidelyusedgreenbuildingstandardintheworld,incorporatesenvironmentalbestpracticesfortherealestateandconstructionindustriesincludingspecificwaystoincreaseenergyefficiency,improvewaterefficiency,userecycledmaterialsandenhanceairquality.


http://www.cdp.net

http://www.usgbc.org/LEED/

our employeesTiffany & Co. aims to create an environment that recognizes and rewards creativity, initiative and dedication and respects diversity, dignity and shared values of community and family for all employees.

Weareproudofouremployees—fromthesalesprofessionalswhobegantheircareers

andretiredwithus,toournewestdesigners—andweknowthattheyshareour

collectivevaluesofrespect,inclusiveness,excellenceandresponsibility.

Wehonorthedignityofallpeopleandrespectthelaws,customsandvaluesofthe

communitiesinwhichweoperate.Werecognizeeachemployee’sknowledgeand

skillsasanimportantsourceoforganizationalcapabilityandcompetitiveadvantage.

Wewelcomediversityinallitsformsandemphasizepersonalaccountabilityand

professionalisminarespectful,inclusiveandfairworkenvironment.

Our Employees |51

DIVERSITY AND INCLUSIONAt Tiffany & Co., we believe a diverse workforce makes a difference.

Furtheringeffortstocultivateandenhancediversityatalllevelsofourorganizationhelpsusattract,developandretainthetalentthatiscriticalforourgrowth,andensurethatallemployeesareabletocontributefullytothesuccessoftheCompany.

Ourcommitmenttodiversityandinclusioninitiativesreflectsourbeliefthateachemployee’suniquecombinationofindividualqualities,background,experiencesandperspectivewillfuelourbusinessinavarietyofways.Further,havingadiverse,inclusiveworkforceisimportantandrelevanttoTiffany&Co. asaglobalbrandandanorganizationthatstrives forexcellence.

WerecentlyintroducedtheTiffanyAcademyforexcellenceandDiversityinLeadership,atalentpipelineandrotationaldevelopmentprogramtoattract,retainandadvancediverse,high-potentialtalentfromawidevarietyofindustries.TheAcademywillinitiallyfocusonkeydepartmentsheadquarteredintheU.S.,withthepotentialtoexpand.ThefirstAcademyclasslaunchedin2015.

InadditiontothisNewyork-basedprogramandotherglobalefforts,ourlocalbusinessteamsidentifyspecificactivitiesandinitiativesthatalignwiththeiruniqueneedsandopportunities.Asanexample,ourmanufacturingfacilityinCumberland,RhodeIsland

hasastrategicalliancewiththeNationalTechnicalInstitutefortheDeafthatprovidesopportunitiesforskilledemployeeswithhearingimpairments.

Further,ourcompany-widerecruitment,developmentandretentioninitiativesaredesignedtowelcomediversityinourworkforce.Westronglybelievebusinesseshavearesponsibilitytoensureequalityofopportunityandtoactinwaysthatsupporttheeliminationofdiscriminationwithrespecttoemploymentandoccupation.Tiffany&Co.providesequalemploymentopportunitieswithoutregardtoage,race,religion,creed,color,nationalorigin,alienageorcitizenshipstatus,sex,maritalstatus,sexualorientation,genderidentity,geneticinformationordisabilitytothefullestextentpermittedbyapplicablelaw.Weapplythispolicybroadly—toalltermsandconditionsofemployment,includinghiring,placement,promotion,compensation,transferandtermination,becausewebelievethatallemployees—allpeople—shouldbetreatedfairlyandwithrespect.Whencomplaintsofdiscriminationdoarise,theCompanyinvestigates,andwhenwarranted,takesaction.

Althoughtherearemanyaspectstodiversity, Tiffany&Co.currentlyreportsthediversityofitsglobalworkforcebygenderandgeneration,andadditionallybyethnicityforU.S.employees.Thediversityofourworkforceremainedrelativelyconsistentbetween 2013 and 2014.

+As self-disclosed by employees * See the Report of Independent Accountants

U.S. employee ethnic Diversity+*2014

50.49%WhITe

13.47% ASIAN-AMERICAN

0.19% AMERICAN INDIAN ORALASKANNATIVe

16.68% HISPANIC

1.16%TWOORMOReRACeS

9.00% UNDECLARED

0.49%NATIVehAWAIIAN & OTHER PACIFIC ISLANDER

8.52% AFRICAN-AMERICAN

52 | Our Employees

+As self-disclosed by employees * See the Report of Independent Accountants

68+30+2 59+39+2 41+58+1 20+80employee Gender Diversity by Management Level+*2014

GLOBALWORKFORCe MANAGER AND ABOVE VICE PRESIDENT AND ABOVE BOARD OF DIRECTORS

20% FEMALE80% MALE

59% FEMALE39% MALE2% UNDECLARED



employee Gender Diversity by Generation+*2014

01922–1944 1945–1954 1955–1964 1965–1980 1981–PReSent

63%37%

56%

43%

75%

22%

64%

34%

0.2% OF EMPLOYEES

3.6% OF EMPLOYEES

11.7% OF EMPLOYEES

EMPLOYEE YEAR OF BIRTH

34.4% OF EMPLOYEES

50.1% OF EMPLOYEES

FEMALE

MALE

UNDECLARED

56%43%

Our Employees | 53

EMPLOYEE DIALOGUE AND ENGAGEMENTTiffany&Co.hasanopendoorpolicy,andinformationissharedregularlyusingavarietyofprint,electronicandin-personcommunications.Tiffany&Co.alsoconductsperiodicemployeesurveystomeasurecriticalaspectsofourcultureandclimate.Surveysobtainfeedbackontopicssuchasmanagement,employeeengagement,communicationandworkprocesses.

The2014GlobalemployeeSurveyhadaparticipationrateofover90%.employeesindicatedthattheyhavestrongteamsandgoodmanagers,andover80%ofemployeesrespondedthattheyhaveengagingjobsandareengagedinthecompany.employeesarealsoclearonhowtheirworkcontributestothesatisfactionofourcustomers.Additionally,resultsshowthatemployeesfeeltheyareworkinginrespectfulenvironmentsandhavegoodworkingrelationshipswiththeirmanagers.

The Company is also using survey results to identifyopportunitiesforimprovement.In2014,ourperformancemanagementprocessincludedconsiderationofwhetheractionwastakenbyamanager based on his or her survey results. The executiveteamalsodiscussedandcommunicatedtoemployeestoppriorityactionareasresultingfromthesurvey.Thesepriorities,forboththeCompany’sexecutiveofficersandtheorganizationasawhole,includemoreclearlyaligningindividualgoalstoorganizationalpriorities.

Tiffany&Co.believesthatcertainabilitiesandbehaviorsarecriticaltoourongoingsuccessandourcorevalues.Tothatend,wehavecodifiedperformanceexpectationsforallemployeesintheformofourcustom-developedTiffanyCompetencyModel.Themodelclearlyidentifiescorecompetenciesthatareimportanttous,suchasinnovationandpartnership,andillustrateswhatsuccessfulexecutionofthesecompetencieslookslikeattheCompanythroughspecificbehavioralexamples.Wehire,develop,rewardandpromotebaseduponthecriticalbehaviorsoutlinedin the model.

TRAINING AND DEVELOPMENTOur philosophy is simple: when an employee grows as a professional,wegrowasacompany.Thereisnobetterassetthanaskilled,engagedandproductiveworkforce.

Ouremployeesreceiveannualperformanceandcareerdevelopmentreviews.Thisprocesshelpstosetworkgoalsandperformanceexpectations,giveandreceiveconstructivefeedback,leveragestrengths,andrecognizeandrewardcontributions.

Further,weprovideavarietyofrelevanteducationalresources,includingleadership,sales,technicalandskill-basedprograms,throughvariouslearningmethodologiesandinmultiplelanguages.In2015,Tiffany&Co.developedaninteractivetrainingcourseoncorporateresponsibilityforglobalemployees,tofurthereducateourworkforceontheCompany’ssustainabilityprioritiesandobjectives.

educationaldevelopmentisfacilitatedbyin-houseprogramsandresourcesaswellasexternalresourcesthroughourtuitionreimbursementprogramforU.S.-basedemployees.Forexample,Tiffany&Co.providesreimbursementforcourseworkthroughtheGemologicalInstituteofAmerica(GIA)forouremployees,supportingtheiropportunitiestoenhancetheireducationalandprofessionallives.executivesalsohavetheopportunitytositoncouncilswithexternalpeersfromotherorganizations.Allemployeeshaveaccesstoexternalconferencesontopicsrangingfromcustomerexperiencetoperformancemanagement.

Tiffany&Co.employeesenjoyavarietyofcareerdevelopmentopportunities.Forsome,itisanupwardprogressionwithintheirchosenfield.Forothers,itisaboutmovingacrossdivisionsordepartments.Forstillothers,mobilityisliteral:movingtoanewlocation,adifferentstateorcontinenttogainvaluableexperience,alongwithadifferentperspectiveonourbusiness.

Tiffany&Co.isproudofitshighproportionoflong-tenuredemployees.ManyofouremployeesspendtheirentirecareersworkingatTiffany&Co.In1948,theCompanycreatedtheTwenty-FiveyearClubtorecognizetheseemployeesfortheirserviceandextendtheirspirittoallmembersofTiffany&Co.Approximately20%ofourglobalemployeebasehasworkedfortheCompanyforover10years.ThisimportantpopulationhelpspreservethelegacyandtraditionsofTiffany&Co.,whileintegratingthenextgenerationofemployeesintoourCompany.

AlthoughTiffany&Co.workstoensurethelong-termsuccessofouremployees,likeanybusiness,wedohaveannualturnover.Weanalyzevoluntaryturnoveracrossouroperationsbygeographyanddepartmenttounderstandhowwecanbetternurturetalent.

54 | Our Employees

heALThANDWeLLNeSSThehealthandwell-beingofouremployeesandtheirfamiliesareimportanttous.Tiffany&Co.investsinouremployees’healthbyprovidingavarietyofon-siteeducationalandactivity-basedprogramsandservicesdesignedtohelpemployeeslivehealthyandproductivelives.Tosupportthiscorevalue,theCompanyoperatesnursingclinicsatitslargeroperationalfacilities,aswellasaphysician-staffedmedicalclinicatitsdiamondpolishingfacilityinVietnam.

Further,thehealthyTiffanyprogramprovidesouremployeeswithaninternalresourceforhealth,wellnessandwork-lifebalance.healthyTiffanyofferssupportthroughbothat-workandoff-siteprogramsandclasses,rangingfrommeditationtonutritionalcounselingtofitness.healthyTiffanyalsopromotesemployeeparticipationincommunityassistanceprograms,suchasblooddonationdrives,thatareconductedon-siteduringworkhours.ThehealthyTiffany program began in the United States in 2010 and continuestoexpandgloballyacrosstheCompany.

Inaddition,Tiffany&Co.providessupporttoemployeesandtheirfamiliesforemotional,family,financialandlegalchallengesthroughoureverydayResourcesProgram,whichismadeavailableglobally.Throughthisprogram,employeesandtheirdependentshaveaccesstofree,professionalandconfidentialcounselingservicesaswellasonlineresourcesandinformation.

Our Employees | 55

WORKPLACeSAFeTyTiffany&Co.takesthesafetyofouremployeesandtheirworkenvironmentsveryseriously.Westrivetoprovideaworkplacefreefromrecognizablehealthandsafetyhazards,aswellasretailstoresthataresafeforthepublictovisit.

Ourworkplacesafetypoliciesarecustomizedforretailandoperationalworkenvironments.Weconductinternalandexternalassessmentsofourcompliancewiththesestandardsanddevelopactionplanstoaddress any gaps.

SafetyatTiffany&Co.isanessentialpartofour businessandourcommitmenttothewell-beingofouremployeesandcustomers.In2014,theCompanyenhanceditssafetyinitiativesthroughthenew Safe@Workprogram,whichpromoteseffectivesafetypracticesthatareappropriatefordifferentworktasksandenvironments.Safe@Workisbuiltaroundthreemaingoals:ensuringManagement’sownershipofthesafetyoftheirstaff;affectingemployeebehaviorthroughregularcommunication;andestablishingasystematicapproachtomaintainingasafeenvironmentateveryTiffany&Co.location.

Wealsomonitorworkplaceincidentstoidentifyandsystematicallyeliminaterootcausesandrelatedhazards.Forexample,Tiffany&Co.regularlydevelopsnewergonomictools,proceduresandworkstationdesignsforourmastercraftsmentohelpreducetheriskofergonomic-relatedinjuries.

We aspire to eliminate all workplace hazards, accidents and incidences. With a 2011 baseline, we seek to reduce our U.S. Total Recordable Incidence Rate—the number of recordable workplace injuries or illnesses per 100 full-time equivalent employees—to 1.0 by 2016.

In2014,theTotalRecordableIncidenceRateinourU.S.facilitiesdecreasedby16%since2013to2.21.*Alargemajorityoftherecordedincidentsresultedininjuriesthatwerenotseriousinnatureandfromwhichemployeesfullyrecovered.

Wehavemadesignificantprogressindevelopingworkpracticestoreducetheriskofemployeeinjuryandwillcontinuetoevaluateandreviewourprocedures,analyzebehavioralpatternsandimproveourprocessestowardsfurtherreducingworkplaceincidents.

* See the Report of Independent Accountants

U.S. Total Recordable Incidence Rate and Target2011–2016

Calendar Year

3.17

2.17

2.63

2016 taRget: 1.0

2011 2012 2013 2014* 2015 2016

3.0

0.5

1.0

1.5

2.0

2.5

3.5

0

Thenumberofrecordableinjuriesorillnessesper100full-timeequivalentU.S.employeesfromcalendaryear2011–2014andtheprogresstowardsmeetingourreductiontarget.

2.21

Our Employees | 57

Charitable GivingTiffany & Co. is guided by the belief that a successful company has a responsibility to the greater community.

Tiffany&Co.hasalegacyofprovidingsupportfornonprofitorganizationsand

engagingwithcivicinstitutionsinthecitiesandcommunitiesinwhichweoperate.

AsTiffany&Co.continuestoexpandglobally,ourcontributionstocharitable

organizationsareexpandingaswell.Today,wecontinuethislegacyofgivingback

throughtwodistinctvehicles:ourcorporatecharitablegivingprogramsand

The Tiffany & Co. Foundation.

In2014,Tiffany&Co.madecorporatecontributionstotaling0.6%ofpre-taxearnings.

Lookingforward,theCompanyiscommittedtoannuallydonatingaminimumof1%of

pre-taxearningstocharitablepurposes,includinglocalcommunityinvestmentsand

contributionstoTheTiffany&Co.Foundation’sendowment.

Charitable Giving |59

NeWyORKCITy:ARTS&CULTURe

Tiffany&Co.hasalongstandinghistoryofsupportingculturalinstitutionsinourhomeofNewyorkCity.WewereinstrumentalinexpandingtheTiffany-MorganCollectionofGemsattheAmericanMuseumofNaturalhistory.BothCharlesLewisTiffany,thefounderofTiffany&Co., andhissonLouisComfortTiffanywereactivelyengagedatTheMetropolitanMuseumofArt,andmanyofLouisComfortTiffany’sworkscanbeseentheretoday.WhetherthroughtheCompany’sdonationofarchivalpiecesorparticipationinworld’sfairsandexpositionsinthenineteenthcentury,Tiffany&Co.haslongvaluedtherolethatculturalinstitutionsplayintheworld’sgreatcities.In2015,Tiffany&Co.enteredintoalong-termpartnershipwiththeWhitneyMuseumofAmericanArttosupporttheWhitneyBiennialin2017,2019and2021.Thissponsorshipwillsharethemuseum’smissiontogivecontemporaryartistsandtheirworkexposureonaglobalscale.Atthesametime,wecontinueourheritageofsupportingculturalexperiencesthatenrichthelivesofpeoplearoundtheworld.

CORPORATE GIVINGWe make local charitable contributions throughout the world where Tiffany & Co. has a presence, based on community needs and priorities.

Throughthedonationofmerchandiseandmonetarycontributions,wecontributetoorganizationsworkinginavarietyoffields:thearts,education,healthandhumanservices,theenvironmentandotherciviccauses.In2014,Tiffany&Co.providedmorethan$4.5milliontononprofitorganizationsthroughourglobalcorporategivingprogram.

AsTiffany&Co.expandstonewcitiesandcountries,webelievethatwemustsupportthesecommunitiesastheywelcomeus.Weseektobuildrelationshipswiththemandincreaseawarenessaboutlocalorganizationsandtheirgreatwork.

EMPLOYEE GIVINGTiffany & Co.’s Employee Giving and Volunteer MatchingprogramsaredesignedtosupportourUnitedStatesemployeesintheircharitableinterests,providingmatchingcontributionswhenemployeesdonatepersonalfundsortheirtimeto501(c)(3)nonprofitorganizations.Wevalueouremployees,theskillsthattheybringandtheirpassionsfortheissuesthatareimportant to them.

ThroughtheemployeeGivingProgram,Tiffany&Co.matchesourU.S.employees’charitabledonationsdollarfordollar.UndertheVolunteerMatchingProgram,forevery10hoursanemployeevolunteerswithaneligiblenonprofit,Tiffany&Co.donates$100totheorganization.TheemployeeGivingandVolunteerMatchingprogramsawardupto$1,000peremployeeforcharitablepurposesperyear,whethertheemployeedonates time or money.

In2014,7%ofU.S.employeesparticipatedintheemployeeGivingProgram,withover$115,000inmonetarydonationsmatched.TheCompanyalsoawardedapproximately$20,000inmonetarydonationsthroughtheVolunteerMatchingProgram.Thesefiguresremainconsistentwithprioryears.But,thereissignificantroomforgrowth.Weareproudofallthatouremployeesdointheircommunities,andpleasedtosupporttheirefforts.Weencourageemployeestotakeadvantageoftheseprogramstoincreaseparticipationrates over time.

60 | Charitable Giving

The Whitney Museum of American Art, New York CityPhotograph © Karin Jobst

“The Tiffany & Co. Foundation’s grantmaking is a key pillar of the company’s

sustainability efforts. With a focus on environmental conservation, the Foundation

is proud to support organizations working around the world to advance the fields

of responsible mining, coral and marine conservation and urban parks.”—ANISAKAMADOLICOSTA,ChAIRMANANDPReSIDeNT,TheTIFFANy&CO.FOUNDATIONANDChIeFSUSTAINABILITyOFFICeR,TIFFANy&CO.

“The Tiffany & Co. Foundation’s grantmaking is a key pillar of the Company’s

sustainability efforts. With a focus on environmental conservation, the Foundation

is proud to support organizations working around the world to advance the fields

of responsible mining, coral and marine conservation and urban parks.”—ANISAKAMADOLICOSTA,ChAIRMANANDPReSIDeNT,THE TIFFANY & CO. FOUNDATION ANDChIeFSUSTAINABILITyOFFICeR,TIFFANy&CO.


The Tiffany & Co. FoundationThe Tiffany & Co. Foundation seeks to preserve the world’s most treasured landscapes and seascapes.

TheTiffany&Co.Foundationwasestablishedin2000.TheFoundation,whichisa

separatelegalentityfromtheCompanywithitsowngoverningboard,awardsgrants

fromitsendowmenttononprofitorganizationsworkinginthreeenvironmental

programareas:responsiblemining,coralconservationandurbanparks.Sincethe

Foundation’sinception,Tiffany&Co.hascontributedapproximately$60milliontothe

Foundation’sendowmentresultinginover$55millioningrantsawardedthrough2014.

CORAL CONSERVATION

The Tiffany & Co. Foundation awarded its first grantincoralconservationin2000,thesame year as the Foundation’s establishment. In its 15-yearhistory,theFoundationhasawardedover $10millioninsupportofglobalcoralconservation.

Coralreefsarecriticallyimportantforthemaintenanceofvibrantmarineecosystems.Theyaretreasuretrovesofmarinebiodiversity,essentialtohealthyfisheries,barrierstoprotectcoastline,andmajordriversofrecreationandtourism.Unfortunately,asaslow-growinganimal,coralisalsosusceptibletomyriadthreats.Protectingcoralandrestoringoceanhealtharetakingcenterstageas global priorities.

The Foundation pursues two main strategies inthisprogram.Thefirstfocusesoneducatingthosewithastronginterestinmaintainingoceanhealth—sailors,boaters,marine-tourismprovidersandhotels—byengagingthemininitiativestoprotectthemarineecosystemstheyvaluesohighly.TheFoundationalsoseekstoensurecoral’slong-termresiliencethroughsupportofcutting-edgeresearchandprovenreefmanagementstrategies.Specifically,theFoundationhasmadesignificantinvestmentsinestablishing,monitoringandsafeguardingmarineprotectedareasglobally.Theseprotectedareas—vastexpansesofoceanprotectedfromexcesivehumanimpacts—are akintotheworld’sgreatnaturepreservesand nationalparksonland.Theyareplacesof abundantfloraandfauna,invaluabletothe earth’srichbiodiversity.

Charitable Giving | 63


2014GRANTMAKINGInCalendaryear2014,TheTiffany&Co.Foundationawardedgrantstotaling$6,135,000.*TheFoundation’s990-PF,theUnitedStatesInternalRevenueService’sReturnofPrivateFoundation,canbefoundonGuideStar.

Formoreinformation,includingprogramguidelinesandalistingoftheFoundation’sgrantees,pleasevisit Tiffanyandcofoundation.org.

Grantmaking by program AreaThe Tiffany & Co. Foundation | Calendar Year 2014

25% CORAL CONSERVATION

20% RESPONSIBLE MINING

8% EXCELLENCE IN DESIGN

44% URBANPARKS

3% STRATeGICGRANTMAKING AFFILIATIONS

64 | Charitable Giving

http://www2.guidestar.org/


© 2015 Iwan Baan The High Line, New York

About This ReportTime Frame, Scope and Boundary

TheTiffany&Co.SustainabilityReportisbasedonourperformanceforFiscalyear2014

(February1,2014–January31,2015)unlessotherwisespecified.Thisreportisourfifth

annualSustainabilityReport,andweplantocontinuetoreportonourprogressannually.

Ourgoalistobeopen,transparentandhonestinourreportingandtoimproveour

reportingovertime.Thecontentofthisreportwasderivedinaccordancewiththe

GlobalReportingInitiative(GRI)G4frameworkandtheUnitedNationsGlobalCompact.

About This Report | 67

https://www.globalreporting.org/

http://www.unglobalcompact.org/

Tiffany&Co.choosestovoluntarilyreportonoursustainabilityperformanceandhasdesignedprocessestocollectand/orestimate,assessandreportonthisdata.Tiffany&Co.Managementisresponsibleforthecompleteness,accuracyandvalidityoftheinformationcontainedinthe2014SustainabilityReport.WeengagedPricewaterhouseCoopersLLP(PwC),ourindependentregisteredpublicaccountingfirm,toreview and report on Management’s Assertion on selectsustainabilitymetricssetforthinthisreport.TheindividualmetricsthatPwChasperformedlimitedassuranceoveraremarkedwithanasterisk(*)intheDefinitionofMetricssectionandcanbefoundintheReportofIndependentAccountants.PricewaterhouseCoopersLLP’sReportofIndependentAccountantsonManagement’sAssertionis includedherein.

Alloftheconsolidationandcalculationrulesaredefined in the Fiscal Year 2014 Tiffany & Co. Corporate Responsibility Metric Collection Criteria Document(CriteriaDocument),whichisupdatedannually.TheCriteriaDocumentprovidesglobalguidanceonthedataandinformationcollected,includingdefinitions,scope,unitsofmeasure,reportingperiod,calculationmethodologyandpotentialinformationsources.Corporateresponsibilitydatacanbemeasuredusingvariousmeasurementtechniques.Theselectionofdifferentbutacceptablemeasurementcriteriacanresultinmateriallydifferentmeasurements.Standardizedcalculationshavebeenusedtoconvertunitsofmeasurewhereappropriate.AsummaryoftheinformationintheCriteriaDocumentcanbefoundintheDefinitionofMetricssectionformetricsincludedwithinthisreport.Thefiguresincludedinthisreporthavebeenroundedtothenearestwholenumberunlessotherwiseindicated.DataisreportedbasedontheFiscalyear(February1,2014–January31,2015)unlessotherwisespecified.ThereportcoversTiffany&Co.anditssubsidiaryoperationsunlessotherwisespecified.DatawascollectedfromallTiffany&Co.globallocationsincludingretailstores,offices,manufacturing,distributionandwarehousinglocations.Datausedinthecalculationofmetricsisobtainedfromdirectmeasurements,third-partyinvoicesorindustry-andgeographic-specificestimates.

UNDERSTANDING OUR MOST MATERIAL ENVIRONMENTAL AND SOCIAL ISSUESOur2014SustainabilityReportreaffirmsourcommitmenttomeasuringandreportingonourmostmaterial**environmentalandsocialchallengesand opportunities. Tiffany & Co. reports on the sustainabilityaspectsofourbusinessthatwedeemmaterialtoourbusinessandstakeholders.

** For the purposes of this Sustainability Report, materiality is defined as that which is most important to the Company and reflects our most significant environmental and social impacts, as well as that which most substantively influences the assessments and decisions of our stakeholders.

68 | About This Report

Oursustainabilityeffortsfocusonourmostmaterialsocialandenvironmentalissuessuchasresponsibleminingandsourcingofrawmaterials,rangingfromdiamondsandgoldtothepaperusedforouriconicBlueBoxesandbags.Tiffany&Co.iscommittedtoobtainingpreciousmetalsandgemstonesandcraftingourjewelryinwaysthataresociallyandenvironmentallyresponsible.Wehavelongunderstoodthat these are our most material issue areas and have workedformanyyearstoadvanceresponsibleminingpractices.Wevalueourstakeholders’vitalinvolvementinimprovingresponsibleminingpracticesacrosstheindustryandthroughoutthejewelrysupplychain.Wealsoengagewithkeynongovernmentalorganizations(NGOs)throughouttheyearontheseissues.

Weregularlyanalyzetheissuesfacingourbusinessandindustryandmonitortrendsinourfields,strivingtoremainaleaderinsustainableluxury.Weconductedourmostrecentmaterialityassessmentin2013,whichreaffirmedthemostimportantissuesthatwecontinuetofocusonasaCompany.Theframeworkfortheanalysisincludedareviewofbusinessrisksandopportunities,priorities,industrybenchmarks, CSRleaderbenchmarks,comparisonswithleadingreportingframeworksandstakeholderengagement.AsapubliclytradedU.S.company,Tiffany&Co.reportsitsfinancialperformanceandmaterialriskfactorsintheTiffany&Co.2014Form10-K,itsquarterlyfilingson Form10-Q and the Tiffany&Co.2014ProxyStatement.

ThekeypillarsofTiffany&Co.’ssustainabilityeffortsinclude:

•ResponsibleMining •ethicalSourcing -Paper&Packaging -Supplier Responsibility •Governance •BuildingFootprint •Ouremployees •CharitableGiving

Thekeypillarsabovearetheissuesthatframe Tiffany & Co.’s sustainability efforts based on what is mostmaterialtoourbusiness.Assuch,theyare reflectedinourreporting.eachpillar,whereappropriate,incorporatesenvironmental,socialandeconomicconsiderations.Inaccordancewiththe Global Reporting Initiative’s G4 reporting framework,wedescribeourapproachforidentifyingandrespondingtoourmostmaterialsocialandenvironmentalissueswithinthecontentsofthisreport.

AllimpactboundariesareglobalandapplytoTiffany & Co. and its subsidiaries unless otherwise statedthroughoutthecontentofthisreportorreportsmentionedtherein.BelowwediscusstheCompany’seconomic,environmentalandsocialimpactboundaries,whilespecificinformationabouttheboundariesofkeymetricscanbefoundintheDefinitionofMetricssection.

eCONOMICIMPACTBOUNDARIeS—OureconomicimpactscanbemeasuredacrossTiffany&Co.globaloperations,includingallofoursubsidiariesandthecommunitiesinwhichwework.Indirectly,oursupplychainhasimpactsoutsideourorganization,includingimpactsfromoursuppliersandoriginalrawmaterialsourcesaroundtheworld.

eNVIRONMeNTALIMPACTBOUNDARIeS—OurenvironmentalimpactscanbemeasuredacrossallTiffany&Co.globalfacilitiesandthefacilitiesoperatedbyoursubsidiaries,includingtheimpactofouroperationsinthecommunitiesinwhichwework,andoursupplychain,whererelevant.Indirectly,oursupplychainhasimpactsoutsideourorganization,includingimpactsfromoursuppliersandoriginalrawmaterialsourcesaroundtheworld.Wefocusonthetraceabilityofrawmaterialsusedinourproductsinordertoevaluateourenvironmentalimpactsthroughoutthesupplychain.

SOCIALIMPACTBOUNDARIeS—OursocialimpactscanbemeasuredinternallyacrossTiffany&Co.globaloperations,includingallsubsidiaries,aswellasexternallyinthecommunitiesinwhichwework.Tiffany&Co.employeesincludeallregular,seasonal,temporaryandpart-timeemployees,exceptwhereotherwisestated.Indirectly,oursupplychainhasimpactsoutsideourorganization,includingimpactsfromoursuppliersandoriginalrawmaterialsourcesaroundtheworld.Wefocusonthetraceabilityofrawmaterialsusedinourproductsinordertohelpensuretheyaresourcedethicallythroughoutoursupplychain.


http://investor.tiffany.com/secfiling.cfm?filingID=98246-15-38

http://investor.tiffany.com/financials.cfm

http://investor.tiffany.com/financials.cfm


Definition of MetricsThis table defines the sustainability metrics reported in this report or used as a basis for the statements made. Items with an asterisk (*) are metrics which have been assured, as indicated in the Report of Independent Accountants.

TERM

RESPONSIBLE MINING METALS PURCHASED

METAL TRACEABILITY

TRACEABLE TO MINE (DIReCTMeTALSPURChASeD*)

TRACEABLE TO RECYCLER (DIReCTMeTALSPURChASeD*)

ROUGH DIAMONDS PURCHASED

ROUGH DIAMOND TRACEABILITY

TRACeABLeTOMINe*

TRACeABLeTOSOURCe*

DEFINITION

Theweightintroyouncesofsilver,goldandplatinumprocuredbyTiffany&Co.eitherasadirectpurchasefromamine,metalrecycler,metalrefinerorincludedinthird-partymanufacturedcomponentsorfinished goods.

Theweightintroyouncesofsilver,goldandplatinumprocureddirectlyfromamineasapercentageofthetotalweightofmetalsreceivedasevidencedbythecontractualtermswiththesupplier(s)orthedetailslistedontheinvoicereceived.

Theweightintroyouncesofsilver,goldandplatinumprocureddirectlyfromarecyclerasapercentageofthetotalweightofmetalsreceivedasevidencedbythecontractualtermswiththesupplier(s),thedetailslistedontheinvoicereceivedorastatementontherecycler’swebsitestatingthatmetaltheymanufactureis100%recycled.

TheweightincaratsofroughdiamondspurchasedbyTiffany&Co.fromBotswana,NamibiaandSouthAfricainthecalendaryearandfromBelgiuminthefiscalyearasevidencedbythesupplierinvoice.ThisincludesallroughdiamondsdirectlyprocuredbyTiffany&Co.

Theweightincarats,expressedasapercentage,ofroughdiamondspurchasedbyTiffany&Co.fromBotswana,NamibiaandSouthAfricain thecalendaryearandfromBelgiuminthefiscalyearwhichwerepurchaseddirectlyfromamineasindicatedbyeitherthecontractualtermswiththesupplierwhichrequiresthediamondstobepurchased fromaspecificmine,thedetailslistedontheinvoicereceivedor informationavailableonthespecificsupplier’swebsitewithrespect tomininglocation.

Theweightincarats,expressedasapercentage,ofroughdiamondspurchasedbyTiffany&Co.fromBotswana,NamibiaandSouthAfricainthecalendaryearandfromBelgiuminthefiscalyearwhichwerepurchaseddirectlyfromasupplierthatsourcesfrommultipleknownmines,butisnottraceabletoaspecificmineasindicatedbyeitherthecontractualtermswiththesupplierwhichrequiresthediamondstobepurchasedfromspecificmines,thedetailslistedontheinvoicereceivedorinformationavailableonthespecificsupplier’swebsitewithrespecttomininglocations.



TERM

POLISHED DIAMONDS PURCHASED

POLISHED DIAMOND TRACEABILITY

POLISHED DIAMONDS FROM INTERNALLY SOURCED ROUGH DIAMONDS

THIRD-PARTY SOURCED POLISHED DIAMONDS

eCONOMICBeNeFICIATION*

SOCIALBeNeFICIATION—PeRCeNTAGeOFLOCALeMPLOyeeS*

WORKeRLIVINGWAGe

eThICALSOURCING— PACKAGINGUSe

CATALOGUE AND COLLATERAL PAPER USE

DEFINITION

Theweightincaratsofpolisheddiamonds(bothserializedandmeleesizes)purchasedbyTiffany&Co.inthecalendaryearasevidencedbyreceiptsandLaureltonDiamondsorthird-partysupplierinvoices.

Thepercentage,bydollarvalue,ofpolisheddiamondspurchasedbyTiffany&Co.inthecalendaryearfromLaureltonDiamondsasindicatedbyreceiptsandLaureltonDiamondsinvoices.

Thepercentage,bydollarvalue,ofpolisheddiamondspurchasedbyTiffany&Co.inthecalendaryearfromathird-partysupplierasindicatedbyreceiptsandthesupplierinvoice.

TheU.S.dollarequivalentofbeneficiationpaidduringthecalendaryearbyTiffany&Co.inBotswanaandNamibia:diamond-producingcountrieswhosegovernmentsrequirebeneficiation.Thisamountincludespaymentstodomesticsuppliersforroughdiamonds,materialsandservices,taxes,communitydonationsandpayrollandbenefitcostsrelatedtotheLaureltonDiamondsfacilities.

Thenumber,expressedasapercentage,oflocalemployeeswhoare employed by Laurelton Diamonds in Botswana and Namibia as evidencedbyhumanResourcesrecords,asoftheendofthe calendaryear.

Laureltonconductslivingwagestudiesineachlocationwhereitoperatestoensureskilledworkersarepaidafairwagefortheirwork.Tiffany&Co.definesalivingwageastheratewhichisrequiredtosupportanemployee,meetfinancialobligationsoftheemployee’sdependentsandprovidesomediscretionaryincome.

Theweight,expressedinshorttons,ofallpackagingmaterialsreceivedbypackagingtypeincludingbluebags,whitebags,set-upboxes,C-foldboxes,corrugatedboxes,tissue,flannelsandpouches,bubblewrapandotherpackagingmaterials.

Theweight,expressedinshorttons,ofcatalogueandprinted collateralpaper.

PAPeR&PACKAGING



TERM

PAPeRCeRTIFICATION(PACKAGING*)

RECYCLED CONTENT

RECYCLABILITY

eThICALSOURCING— LEATHER TRACEABILITY

TRACEABLE TO TANNERY

TRACEABLE TO FARM AND TANNERY

eThICALSOURCING— PERCENTAGE VENDOR CODE OF CONDUCT SIGNATURES

VENDOR SELF-ASSESSMENT

VeNDORRISKLeVeL

AUDITS

VENDOR COMPLIANCE STATUS

NONCOMPLIANCE

DEFINITION

ThepercentageofFSC®-certifiedpapersuppliersofbluebagsandboxes*orcatalogueandcollateralpaper,basedonsupplierstatus,asofyear-end.

Thepercentageofrecycledandpost-consumerrecycledmaterialinpackagingandcataloguepaper.

Thepercentageofpackagingmaterialthatcanberecycledby the end user.

Thequantityofeachleathertypepurchasedthatistraceableonlytothetanneryasapercentageofoverallpurchasesasevidencedbyasupplierinvoiceandcontractualterms.

Thequantityofeachleathertypepurchasedthatistraceabletothefarmandtanneryasapercentageofoverallpurchasesasevidencedbysupplierinvoicesandcontractualterms.

Thepercentageofdirectvendors,vendorsprovidingfinishedgoodsandTiffany-recognizablematerials(components,leather,polisheddiamondsandpackaging)toTiffany&Co.,intheSocialAccountabilityProgramwhohavesignedtheVendorCodeofConductasoftheendoftheyear.

ThepercentageofTiffany&Co.directvendorsintheSocialAccountabilityProgramwhohavecompletedaself-assessmentagainsttheTiffany&Co.VendorCodeofConductduringthetwo-yearauditcycle(2014–2015).

ThepercentageofvendorsintheSocialAccountabilityProgramat eachrisklevel(high,Medium,Low,Unrated)duringthetwo-yearauditcycle.Thevendorriskleveliscalculatedthroughamultilayeredriskassessmentprocessbasedonthevendor’sself-assessment,industryandgeographiclocation.

Thepercentageofhigh-riskvendorsintheSocialAccountabilityProgramthat have undergone either an internal or third-party audit during the two-yearauditcycle.

ThenumberofvendorsintheSocialAccountabilityProgramineachcompliancelevel(Satisfactory,MinorNonconformance,MajorNonconformance,Critical)attheconclusionoftheyear.

Supplierincidentsofnoncompliancebytypeofnoncompliance(hoursofwork,wagesandbenefits,healthandsafety,freedomofassociationandcollectivebargaining,lackoftransparency,childlabor,forcedlabor,harassmentorabuse,disciplinaryactions,discrimination,environmentalrequirementsorother)asdeterminedbyTiffany&Co.orthird-partyauditsduringthetwo-yearauditcycle.

RAWMATeRIALS


SUPPLIER RESPONSIBILITY


TERM

GOVERNANCE BUSINESS CONDUCT POLICY SIGNATURES

ETHICAL INCIDENCE

BUILDING FOOTPRINT ENERGY USE

GReeNhOUSeGASeMISSIONS*

CARBONINTeNSITy:BUILDINGAReA*

CARBON INTENSITY: REVENUE

OUR EMPLOYEES eThNICDIVeRSITy(UNITeDSTATeS*)

GENDER DIVERSITY BY MANAGeMeNTLeVeL*

GeNeRATIONDIVeRSITy*

TOTAL RECORDABLE INCIDENCE RATE (UNITeDSTATeS*)

DEFINITION ThepercentageofTiffany&Co.employeeswhohavesignedandreturned the Tiffany&Co.BusinessConductPolicyacknowledgementandOfficer’sQuestionnaireontime.AllemployeesarerequiredtoreviewtheBusinessConductPolicyannuallyandselectofficersoftheCompanycompletetheOfficer’sQuestionnaireonanannualbasis.

Thenumberofethicsconcernsraisedinternallybytypeandrate ofresolution. TheactualandestimatedenergyusebyTiffany&Co.,expressedinMWh,includingelectricity,naturalgas,fueloil,heavyoil,steam,chilledwater,propane,acetylene,wax,vehiclefuelandrefrigerants.

Thequantityinmetrictonsofcarbondioxideequivalentgreenhousegasemissions,includingbothdirect(Scope1)andindirect(Scope2)emissions.Directandindirectemissionsincludeelectricity,naturalgas,fueloil,heavyoil,steam,chilledwater,propane,acetylene,wax,vehiclefuelandrefrigerants.

Thequantityinpoundsofcarbondioxideequivalentgreenhousegasemissionspersquarefootofoperatedspace,includingbothdirect(Scope1)andindirect(Scope2)emissions.

ThequantityinmetrictonsofcarbondioxideequivalentgreenhousegasemissionsperU.S.dollarsofrevenue($MM),includingbothdirect(Scope1)andindirect(Scope2)emissions. ThediversityoftheTiffany&Co.U.S.workforce,includingtemporaryandseasonalemployees,accordingtoethnicityasself-reportedandrecordedbyemployeesintheCompany’shumanResourcessystemsfromJuly18–July31.

ThediversityoftheTiffany&Co.globalworkforce,includingtemporaryandseasonalemployees,accordingtogenderasself-reportedandmanagementlevelasrecordedintheCompany’shumanResourcessystems,wherepermittedbylocallawandexcludestheBoardofDirectorswhichisseparatelypresented.

ThediversityoftheTiffany&Co.globalworkforce,includingtemporaryandseasonalemployees,accordingtogenderanddateofbirthasself-reportedandrecordedintheCompany’shumanResourcessystems,wherepermittedbylocallaw.

Thenumberofrecordableinjuriesorillnesses(basedontheOShAdefinitionofarecordableincident)per100full-timeequivalentUnitedStatesemployees,duringthecalendaryear,asofJanuary22,2015.




TERM

OUR EMPLOYEES VOLUNTARY TURNOVER

PeRFORMANCeReVIeW

PERCENTAGE OF EMPLOYEES EMPLOYED AT TIFFANY & CO. FOR 10 OR MORE YEARS

CHARITABLE GIVING CHARITABLE GIVING AS A PERCENTAGE OF PRE-TAX EARNINGS

FOUNDATIONGRANTMAKING*

CORPORATE GIVING

EMPLOYEE GIVING PROGRAM

VOLUNTEER MATCHING PROGRAM

DEFINITION Thepercentageoftheglobalworkforcevoluntarilyleaving Tiffany&Co.Voluntaryturnoverincludesallfull-timeemployees.LaureltonDiamondstraineesaretrackedseparately.

ThepercentageofTiffany&Co.employeeswithannualmanagementplansandannualreviewscompletedontime.

TotalTiffany&Co.employeesthathaveworkedattheCompanyfor10ormoreyears,includingLaureltonemployeesandnotincludingseasonal and temporary employees. TotalcontributionsbyTiffany&Co.throughourcorporategivingprogram,employeeGivingandVolunteerMatchingprogramsandtoTheTiffany&Co.Foundationendowment,asapercentageoffiscalyearpre-taxearnings.

TheU.S.dollaramountofgrantmakingthatTheTiffany&Co.FoundationpaidtoUnitedStatesnonprofitorganizationsduringthecalendaryear.

ThetotalU.S.dollarcontributionbytypeofdonation(monetary,merchandise)andcharityareaoffocus(e.g.,arts,health)tolocalcharitableorganizationsglobally.

TotalTiffany&Co.contributionsthroughtheU.S.employeeGivingProgram,trackedbythematchingmonetarydonations,thenumberofuniqueemployeesparticipatingintheprogramandthenumberofcharitiestowhichdonationshavebeenmade.

TotalTiffany&Co.monetarycontributionsthroughtheU.S.VolunteerMatchingProgrammadetocharitieswhereU.S.employeeshavevolunteeredtheirpersonaltime,trackedbythematchingmonetarydonations,thenumberofuniqueemployeesparticipatingintheprogram,thenumberofhoursvolunteeredandthenumberofcharitiestowhichdonationshavebeenmade.



Global Reporting Initiative (GRI) IndexTheGlobalReportingInitiative(GRI)isanetwork-basedorganizationthatdeveloped

theworld’smostwidelyusedvoluntarysustainabilityreportingframework.TheGRI

frameworkisdevelopedthroughaconsensus-seeking,multistakeholderprocess.This

reportwasdevelopedinaccordancewiththeGlobalReportingInitiative’sG4framework,

reportedtothe‘Inaccordance–Core’level.ForfurtherinformationontheGlobal

ReportingInitiative,pleaseseewww.globalreporting.org.

Tiffany&Co.isreportingonthemetricsthatwedeemmaterialbasedonthemateriality

processdescribedintheAboutThisReportsectionofthisreport.Tiffany&Co.

voluntarilyreportsonsustainabilityperformanceanddesignedprocessestocollect

and/orestimate,assessandreportonthisdata.Tiffany&Co.Managementisresponsible

forthecompleteness,accuracyandvalidityoftheinformationcontainedinthe2014

SustainabilityReport.WeengagedPricewaterhouseCoopersLLP(PwC),ourindependent

registeredpublicaccountingfirm,toreviewandreportonManagement’sAssertionon

selectsustainabilitymetricssetforthinthisreport.Acopyoftheirfindingscanbefound

withintheReportofIndependentAccountants.

About This Report |77

http://www.globalreporting.org/

INDICATOR DESCRIPTION RESPONSEgeneRal StandaRd diSClOSuReS

STRATEGY AND ANALYSISG4-1 Statementfrommostsenior

decision-makerCEO Message

G4-2 Descriptionofkeysocialandenvironmentalimpacts,risksandopportunities

Forinformationonmaterialrisksto Tiffany&Co.,pleaseseetheTiffany & Co. 2014Form10-K.Descriptionofkeysustainabilityimpacts,risksandopportunitiescanbefoundthroughoutthecontentofthisreport,anddetailedintheAboutThisReport–UnderstandingourMostMaterialenvironmentalandSocialIssuessectionof this report.

ORGANIzATIONAL PROFILEG4-3 Nameoftheorganization Tiffany & Co.

G4-4 Primarybrands,productsandservices Tiffany&Co.2014Form10-K

G4-5 Locationoforganization’sheadquarters Newyork,Newyork,U.S.A.

G4-6 Numberandnameofthecountrieswheretheorganizationoperates

Tiffany&Co.2014Form10-K

G4-7 Natureofownershipandlegalform Tiffany&Co.2014Form10-K

G4-8 Marketsserved Tiffany&Co.2014Form10-K

G4-9 Scaleoftheorganization Tiffany&Co.2014Form10-K

G4-10 employeesbyemploymentcontractandgender

Tiffany&Co.2014Form10-K Our Employees

G4-11 Percentageofemployeescoveredbycollectivebargainingagreements

Notdisclosed

G4-12 Descriptionoforganization’s supplychain

Please see the Tiffany&Co.2014Form10-K,as well as the Responsible Mining and ethical Sourcingsectionsofthisreport.

G4-13 Significantstructuralandorganizationalchangesduringthereportingperiod

Tiffany&Co.2014Form10-K Tiffany&Co.2014ProxyStatement

G4-14 Addressingtheprecautionaryapproachorprinciple

Tiffany&Co.supportstheprecautionaryapproachtoenvironmentalchallenges.

G4-15 externaleconomic,environmentalandsocialcharters,principlesorinitiativessubscribedtoorendorsedbytheorganization

Tiffany&Co.hasintegrated,andisworkingtoimprove,manyexternal,third-partyinitiativesthatrelatetotheeconomic,environmentalandsocialimpactsofTiffany&Co.InformationontheseinitiativescanbefoundintheResponsibleMining,BuildingFootprint and ethicalSourcingsectionsofthisreport.

Since2011,Tiffany&Co.hasbeenamemberoftheUnitedNationsGlobalCompact.Pleaseseethe AboutThisReport–UnitedNationsGlobal CompactCommunicationonProgress 2014 sectionofthisreport.














ORGANIzATIONAL PROFILEG4-16 Listmembershipsofassociationsand

nationalorinternationaladvocacyorganizations

SelectedmembershipsarelistedintheResponsibleMiningsectionandthroughoutthecontentofthisreport.The2014Annual PoliticalSpendingDisclosurecanbefoundonthe Tiffany & Co. Investor Relations website.

STAKehOLDeReNGAGeMeNTG4-24 Stakeholdergroupsengagedbythe

organizationWehavelongrecognizedandembracedtheimportantrolethatstakeholdersplayinourbusiness,includingouremployees,stockhold-ers,nongovernmentalorganizations(NGOs),industryandsupplychainpartners.

InformationonTiffany&Co.practicesforstakeholderengagementcanbefoundwithintheexecutiveSummarysectionandthrough-outthecontentofthisreport.

INDICATOR DESCRIPTION RESPONSE

IDENTIFIED MATERIAL ASPECTS AND BOUNDARIESG4-17 entitiesincludedintheorganization’s

financialstatementsandthosenotcoveredinthereport

Tiffany&Co.2014Form10-K ThissustainabilityreportcoversTiffany&Co.and its subsidiary operations unless otherwise specified.

G4-18 Processfordefiningreportcontentandaspectboundaries

AboutThisReport–UnderstandingourMost MaterialenvironmentalandSocialIssues

G4-19 ListallmaterialAspects,astheGRIdefines materiality

AboutThisReport–UnderstandingourMost MaterialenvironmentalandSocialIssues

G4-20 AspectBoundarieswithintheorganization

WeexplainourprocessforassessingmaterialityintheAboutThisReport–UnderstandingourMostMaterialenvironmentalandSocialIssuessectionofthisreport.ThescopeandboundaryoftheSustainabilityReportaredefinedintheAboutThisReportsectionofthisreport.Anymetricwithalimitedscopeisdefinedinthediscussionofthatspecificmetric.

G4-21 AspectBoundariesoutsideoftheorganization

WeexplainourprocessforassessingmaterialityintheAboutThisReport–UnderstandingourMostMaterialenvironmentalandSocialIssuessectionofthisreport.ThescopeandboundaryoftheSustainabilityReportaredefinedintheAboutThisReportsectionofthisreport.Anymetricwithalimitedscopeisdefinedinthediscussionofthatspecificmetric.

G4-22 effectsofrestatementsofinformationprovided in previous reports

Anyexplanationofsignificantchangesfrompreviousreportingperiodsisdescribedinthediscussionofthatspecificmetric.

G4-23 SignificantchangesinScopeorAspectBoundariesfrompreviousreportingperiods

Anyexplanationofsignificantchangesfrompreviousreportingperiodsisdescribedinthediscussionofthatspecificmetricinthereport,withthediscussionofthatAspectinthis GRIIndex.






G4-25 Basisforidentification Wehavelongrecognizedandembracedtheimportantrolethatstakeholdersplayinourbusiness,includingouremployees,stockholders,nongovernmentalorganizations(NGOs),industryandsupplychainpartners.

InformationonTiffany&Co.practicesforstakeholderengagementcanbefoundwithintheexecutiveSummarysectionandthroughoutthecontentofthisreport.

G4-26 Approachtostakeholderengagement InformationonTiffany&Co.’sapproachtostakeholderengagementcanbefoundwithintheexecutiveSummarysectionandthrough-outthecontentofthisreport.

G4-27 Keytopicsandconcernsraisedthroughstakeholderengagement

Thisinformationisreportedthroughoutthecontentofthisreport.

REPORT PROFILEG4-28 Reporting period Tiffany&Co.isreportingonFiscalyear2014

(February1,2014–January31,2015)unlessotherwisespecified.

G4-29 Dateofmostrecentpreviousreport Tiffany & Co. publishes its Sustainability Report annually. The Company published its mostrecentpreviousreportonFiscalyear2013 in August 2014.

G4-30 Reportingcycle Annual

G4-31 Contactpointforquestions Forinformationonhowtocontact Tiffany&Co.,pleaseseeCustomerService.

G4-32 GRIContentIndexand‘Inaccordance’option

ThisreportwasdevelopedinaccordancewiththeGRI’sG4framework,reportedtothe‘Inaccordance–Core’level.

Tiffany & Co. engaged PricewaterhouseCoopersLLP(PwC)toprovidelimitedassuranceonselectsustainabilitymetricssetforthwithinthe Tiffany & Co. Sustainability Report. A copyofthePwCReportandTiffany&Co.ManagementAssertioncanbefoundintheReportofIndependentAccountants.

G4-33 Policyandpracticeonseeking externalassurance

Tiffany & Co. engaged PricewaterhouseCoopersLLP(PwC)toprovidelimitedassuranceonselectsustainabilitymetricssetforthwithinthe Tiffany & Co. Sustainability Report. A copyofthePwCReportandTiffany&Co.ManagementAssertioncanbefoundintheReportofIndependentAccountants.



http://www.tiffany.com/Customer/Request/EmailCustSvr.aspx

GOVERNANCEG4-34 Governancestructureoftheorganization Adescriptionofthegovernancestructure

ofTiffany&Co.asitrelatestocorporateresponsibilitycanbefoundwithintheGovernancesection.FurtherinformationongovernanceatTiffany&Co.canbefoundinthe Tiffany&Co.2014ProxyStatement.

G4-35 ProcessfordelegatingauthorityforCSRtopicsfromthehighestgovernancebodytoseniorexecutivesandotheremployees

Tiffany&Co.2014ProxyStatement Governance

G4-36 executive-levelpositionwithCSRresponsibility

Tiffany&Co.’sChiefSustainabilityOfficerreportsdirectlytotheCeO,andliaiseswiththeCorporateSocialResponsibilityCommitteeoftheBoardofDirectors.

G4-37 Processesforconsultationbetweenstakeholdersandgovernancebody

InformationonTiffany&Co.practicesforstakeholderengagementcanbefoundwithintheexecutiveSummarysectionandthroughoutthecontentofthisreport.FurtherinformationaboutourstockholderconsultationprocessescanbefoundintheTiffany&Co.2014ProxyStatement.

G4-38 Compositionofthehighestgovernancebodyanditscommittees

Tiffany&Co.2014ProxyStatement Our Employees

G4-39 Whetherthechairofthehighestgovernancebodyisalsoanexecutiveofficer

In2014,MichaelJ.KowalskiservedasChairmanoftheBoardandChiefexecutiveOfficerofTiffany&Co.AsofMarch31,2015,MichaelJ.KowalskiretiredasCeOandbecamethenon-executivechairoftheBoardofDirectors.FrédéricCumenal,whoassumedtheroleofChiefexecutiveOfficerof Tiffany&Co.onApril1,2015,servesasamemberoftheBoardofDirectors.

G4-40 Nominationandselectionprocessesforthehighestgovernancebodyanditscommittees

Tiffany&Co.2014ProxyStatement

G4-41 Processesforhighestgovernancebodytoavoidandmanageconflictsofinterest


G4-42 highestgovernancebody’sandseniorexecutives’rolesinapprovingCSRvalues,strategies,policiesandgoals


G4-43 Measures to develop the highest governancebody’sknowledgeofCSRtopics

ForadescriptionoftheCorporateSocialResponsibilityCommitteeoftheBoardofDirectors,pleaseseethe Governancesectionofthisreport.

G4-44 evaluationprocessesofthehighestgovernancebody’sperformanceonCSR


G4-45 Thehighestgovernancebody’sroleinidentifyingCSRrisksandopportunities















G4-48 highestcommitteeorpositionthatapproves the Sustainability Report

Tiffany & Co.’s annual Sustainability ReportisdevelopedthroughcollaborativeconsultationwithinternalsubjectmatterexpertsandreviewedandapprovedbytheChiefSustainabilityOfficerandmembersofexecutiveandseniormanagement.

G4-49 Processforcommunicatingcriticalconcernstothehighestgovernancebody


G4-50 Report the nature and total number ofcriticalconcernsthatwerecommunicatedtothehighestgovernancebodyandthemechanism(s)usedtoaddress and resolve them

Notdisclosed

G4-51 Remunerationpoliciesforthehighestgovernancebodyandseniorexecutives


G4-52 Processfordeterminingremuneration Tiffany&Co.2014ProxyStatement

G4-53 Reporthowstakeholders’viewsaretakenintoaccountregardingremuneration


G4-54 Ratioofcompensationforthehighest-paid individual to the median compensationforallemployees

Notdisclosed

G4-55 Ratioofpercentageincreaseincompensationforhighest-paidindividualtothemedianpercentageincreaseincompensationforallemployees

Notdisclosed


G4-46 Thehighestgovernancebody’sroleinreviewingCSRriskmanagement


G4-47 Thefrequencyofthehighestgovernancebody’sreviewofCSRimpacts,risksandopportunities












CategORy: eCOnOMiCG4-DMA economic AsapubliclytradedU.S.company,

Tiffany&Co.reportsitseconomicperformanceinregularfinancialstatements,allofwhichareavailableontheTiffany & Co. Investor Relationswebsite.Boundariesforreportingfinancialmaterialityareincludedwithin the Tiffany&Co.2014Form10-K and the Tiffany&Co.2014ProxyStatement.

Tiffany&Co.’sindirecteconomicimpactsareconsideredacrosstheCompanyinourworkplaceandsurroundingcommunities,throughoutoursupplychainandinthebroaderjewelryindustry,includingcommunitiesthathostminingoperations.PleaseseetheResponsibleMiningsectionofthisreporttolearnabouttheimpactsoftheminingsector,andourinvestmentsindiamond-producingcountries.


ETHICS AND INTEGRITYG4-56 Values,principles,standardsandnorms

ofbehaviorTiffany&Co.2014ProxyStatement Governance

G4-57 Mechanismsforseekingadviceonethicalandlawfulbehavior

The Tiffany&Co.BusinessConductPolicy setsforthexpectationsforTiffany&Co.employees,includingcompliancewithrelevant laws and regulations. All employees arerequiredtoreviewthepolicyuponhireandthereafteronanannualbasis.

Tiffany & Co. provides employees with means toanonymouslyreportethicalorotherconcerns.Thesemechanismsareavailableglobally,exceptwhereprohibitedbylocallaw.Mattersreportedthroughthesemechanismsareevaluatedand,ifnecessary,investigatedand remediated as appropriate.

FurtherdetailsaboutthesemechanismscanbefoundintheTiffany&Co.2014Proxy Statement.

G4-58 Mechanismsforreportingconcernsaboutunethicalorunlawfulbehavior














INDIRECT ECONOMIC IMPACTSG4-eC7 Developmentandimpactof

infrastructureinvestmentsandservicessupported

ForinformationontheinvestmentsandimpactsTiffany&Co.makesindiamond-producingcountries,pleaseseetheTiffany Diamonds sectionofthisreport.

G4-eC8 Significantindirecteconomicimpacts,includingtheextentofimpacts

Responsible Mining The Tiffany & Co. Foundation

PROCUREMENT PRACTICESG4-EC9 Proportionofspendingonlocalsuppliers Forinformationontheuseoflocalsuppliers

byTiffany&Co.,pleaseseetheResponsible Miningsectionofthisreport.


ECONOMIC PERFORMANCEG4-EC1 Directeconomicvaluegeneratedand

distributedFinancialinformationcanbefoundintheTiffany&Co.2014Form10-K.

InformationonTiffany&Co.donationsandTheTiffany&Co.Foundation’sgrantmakingcanbefoundwithintheCharitable Giving sectionofthisreport.

InformationonhowTiffany&Co.’ssupport oflivingwagepracticesanddiamond-producingcountriescanbefoundwithin the Tiffany Diamondssectionofthisreport.

The 2014 AnnualPoliticalSpendingDisclosurecanbefoundontheTiffany & Co. Investor Relations website.

G4-EC2 Financialimplicationsandotherrisksandopportunitiesfortheorganization’sactivitiesduetoclimatechange

Forinformationonthefinancialimplicationsandotherrisksandopportunitiesassociatedwithclimatechange,pleaseseetheTiffany&Co.responsetothe2015CDPClimateChangeRequest,publiclyavailableatwww.cdp.net.

G4-EC3 Coverageoftheorganization’sdefinedbenefit plan obligations

Tiffany&Co.2014Form10-K

G4-EC4 Financialassistancereceivedfromgovernment

None

MARKeTPReSeNCeBasedontheIndicatorsofthisAspect,MarketPresenceisnotmaterialtoTiffany&Co.asdeterminedthroughourmaterialityreviewprocess,describedintheAboutThisReportsectionofthisreport.







http://www.cdp.net



CategORy: enViROnMentalG4-DMA Environmental Asajewelryretailerandmanufacturer,

Tiffany&Co.reliesonrawmaterialssuchasmetals,diamondsandpaperforourbusiness.Therefore,westrivetoreducetheimpactsofourrawmaterialuse,wherepossible,asdescribedintheethicalSourcingandResponsibleMiningsectionsofthisreport.Management’sapproachtomaterialsourcingisalsodiscussedintheTiffany & Co. 2014 Form10-K.ForinformationonTiffany&Co.’sprocessforevaluatingsuppliersacrossourglobaloperations,pleaseseetheSupplierResponsibilitysectionofthisreport.

Althoughwearenotalargeenergyconsumerorgreenhousegas(GhG)emitter,wearecommittedtounderstandingandreducingourimpactonclimatechange.OurenergyandemissionsmanagementapproachisdefinedintheBuildingFootprintsectionofthisreportaswellasinourresponsetothe2015CDPClimateChangeRequest.

MATERIALSG4-EN1 Materials used by weight or volume Tiffany&Co.doesnotdisclosetheexact

quantityofmaterialsthatweuse,aswefindthisinformationtobeproprietary.however,traceabilityofrawmaterialsisimportanttoTiffany&Co.,asawaytounderstandandimprovesocialandenvironmentalpracticesalongoursupplychain.

G4-EN2 Percentageofmaterialsusedthatarerecycledinputmaterials

InformationontherecycledmaterialsweusecanbefoundwithintheMetals and Paper & Packagingsectionsofthisreport.

ENERGYG4-EN3 energyconsumptionwithinthe

organizationBuilding Footprint TheTiffany&Co.responsetothe2015CDPClimateChangeRequestispubliclyavailableat www.cdp.net.

G4-eN6 Reductionofenergyconsumption Building Footprint TheTiffany&Co.responsetothe2015CDPClimateChangeRequestispubliclyavailableat www.cdp.net.




http://www.cdp.net/

http://www.cdp.net/


WATeRG4-eN8 Totalwaterwithdrawalbysource Tiffany&Co.startedtocollectwaterusedata

in2010fromourglobalfacilities.WedonotreportonthisIndicatorbecausewedonotcollectinformationtothislevelofdetailatthis time.

G4-EN10 Percentageandtotalvolumeofwaterrecycledandreused

WedonotreportonthisIndicatorbecausewedonotcollectinformationtothislevelofdetail at this time.

BIODIVERSITYG4-EN11 Operationalsitesowned,leased,managed

in,oradjacentto,protectedareasandareasofhighbiodiversityvalueoutsideprotectedareas

Notdisclosed

G4-EN12 Descriptionofsignificantimpactsofactivities,productsandservicesonbiodiversity

Adescriptionofthepotentialimpactstobiodiversitybyrawmaterialsourcing,andhowTiffany&Co.workswithoursupplychaintominimizetheseimpacts,canbefoundwithintheResponsibleMiningandethicalSourcingsectionsofthisreport.

G4-EN13 habitatsprotectedorrestored PleaseseetheResponsibleMiningandethicalSourcingsectionsofthisreport,aswellasThe Tiffany & Co. FoundationwebsiteforinformationonhowTiffany&Co.hasworkedoncoralconservation,hardrockminingreformandthepreservationofareasofhighecologicalandculturalvalue.

EMISSIONSG4-eN15 Directgreenhousegas(GhG)emissions

(Scope1)Building Footprint TheTiffany&Co.responsetothe2015CDPClimateChangeRequestispubliclyavailableat www.cdp.net.

G4-eN16 Indirectgreenhousegas(GhG)emissions(Scope2)

Building Footprint TheTiffany&Co.responsetothe2015CDPClimateChangeRequestispubliclyavailableat www.cdp.net.

G4-eN17 Otherindirectgreenhousegas(GhG)emissions(Scope3)

TheTiffany&Co.responsetothe2015CDPClimateChangeRequestispubliclyavailableat www.cdp.net.

G4-eN18 Greenhousegas(GhG)emissionsintensity

Building Footprint TheTiffany&Co.responsetothe2015CDPClimateChangeRequestispubliclyavailableat www.cdp.net.



http://www.cdp.net/

http://www.cdp.net/

http://www.cdp.net/

http://www.cdp.net/

G4-EN19 Reductionofgreenhousegas(GhG)emissions

Building Footprint TheTiffany&Co.responsetothe2015 CDPClimateChangeRequestispubliclyavailable at www.cdp.net.

G4-EN20 emissionsofozone-depletingsubstances(ODS)

Tiffany&Co.doesnothavesignificantemissionsofozone-depletingsubstances.

G4-EN21 NOx,SOxandothersignificantairemissions

Tiffany&Co.doesnothavesignificant air emissions.

eFFLUeNTSANDWASTeG4-EN22 Totalwaterdischargebyqualityand

destinationTiffany&Co.startedtocollectwaterusedatain2010fromourglobalfacilities.WedonotreportonthisIndicatorbecausewedonotcollectinformationtothislevelofdetailatthis time.

G4-EN23 Totalweightofwastebytypeanddisposalmethod

Tiffany&Co.startedtocollectwastedatain2010fromourglobalfacilities.WedonotreportonthisIndicatorbecausewedonotcollectinformationtothislevelofdetailatthis time.

G4-EN24 Totalnumberandvolumeofsignificantspills

Tiffany&Co.didnothaveanysignificantspills within this reporting period.

G4-eN26 Identity,size,protectedstatusandbiodiversityvalueofwaterbodiesandrelatedhabitatssignificantlyaffectedbytheorganization’sdischargesofwater and runoff

Notapplicable

PRODUCTS AND SERVICESBasedontheIndicatorsofthisAspect,ProductsandServicesisnotmaterialtoTiffany&Co.asdeterminedthroughourmaterialityreviewprocess,describedintheAbout This Reportsectionofthisreport.

COMPLIANCEG4-EN29

Monetaryvalueofsignificantfinesandtotalnumberofnon-monetarysanctionsfornon-compliancewithenvironmentallaws and regulations

Tiffany&Co.workstocomplywithapplicablelaws and regulations.

Tiffany&Co.wasnotsubjecttoanysignificantfinesorsignificantnon-monetarysanctionsfornon-compliancewithenvironmental laws and regulations in 2014.

TRANSPORTBasedontheIndicatorofthisAspect,TransportisnotmaterialtoTiffany&Co.asdeterminedthroughourmaterialityreviewprocess,describedintheAbout This Reportsectionofthisreport.



OVERALLTiffany&Co.doesnotcurrentlydiscloseourtotalenvironmentalprotectionexpendituresandinvestmentsbytype,asthecostsarenotmaterialtoourbusiness.

SUPPLIER ENVIRONMENTAL ASSESSMENTG4-EN32 Percentageofnewsuppliersthatwere

screenedusingenvironmentalcriteriaForinformationonourSocialAccountabilityProgram,pleaseseetheSupplierResponsibilitysectionofthisreport.

G4-EN33 Significantnegativeenvironmentalimpactsinthesupplychainand actionstaken

Forinformationabouttheenvironmentalimpactsinoursupplychain,pleaseseetheResponsibleMiningandethicalSourcingsectionsofthisreport.

ENVIRONMENTAL GRIEVANCE MECHANISMS WedonotreportonthisAspectbecausewedonotcollectinformationtothislevelofdetailforreportingexternallyatthistime.



CategORy: SOCialG4-DMA Social Tiffany & Co. assigns a high priority to the

overallhealthandsafetyofouremployeesandtheirworkenvironments.Moreover,respectfordiversityisanimportantaspectofcreatingaworkenvironmentthatrecognizesandrewardscreativity,initiativeanddedication.Please see the Tiffany Careerswebsiteformoreinformationonouremploymentpoliciesandpractices.

Tiffany&Co.isaglobaljewelryretailer andmanufacturer.AdiscussionofhowTiffany&Co.interactswiththecommunitieswhereweoperateorsourcefromcanbefoundin the Building Footprint and Responsible Miningsectionsofthisreport.

InformationontheCompany’sBusinessConductPolicyandCodeofethicsisdetailedin the Tiffany&Co.2014ProxyStatement. TheGovernancesectionofthisreportincludesanoverviewofourbusinessconductandpolicydocumentsastheyrelateto Tiffany & Co. sustainability initiatives.

ForinformationonTiffany&Co.’sprocessforevaluatingsuppliersacrossourglobaloperationsandtheirlaborpractices,pleaseseetheSupplierResponsibilitysectionof this report.

LABORPRACTICeSANDDeCeNTWORK

EMPLOYMENTG4-LA2 Benefitsprovidedtofull-timeemployees

that are not provided to temporary or part-time employees

AdescriptionofbenefitsbyregioncanbefoundontheTiffany Careers website.

LABOR/MANAGeMeNTReLATIONSBasedontheIndicatorofthisAspect,Labor/ManagementRelationsisnotmaterialtoTiffany&Co.asdeterminedthroughourmaterialityreviewprocess,describedintheAbout This Reportsectionofthisreport.

OCCUPATIONAL HEALTH AND SAFETYG4-LA5 Percentageoftotalworkforcerepresented

informaljointmanagement–workerhealthandsafetycommittees

Manufacturinganddistributionlocationshavehealthandsafetycommitteesthatparticipateindeploymentofthelocation’sproactivesafetyefforts.



http://tiffanycareers.com/



G4-LA5(Cont.) eachlocationhasvarioustasks,department,adhocandothercommitteestodevelopandimplementhealthandsafetyprogramsbasedonthelocation’sstrategichealthandsafetyplan.Theseleadershipgroupsincludeacross-sectionofpersonnelfromthefacility.

G4-LA6 Typeofinjuryandratesofinjury,occupationaldiseases,lostdaysandabsenteeism,andtotalnumberofwork-relatedfatalities,byregionandbygender

Forinformationaboutworkplacehealthandsafety,pleaseseetheOuremployeessectionofthisreport.

TRAINING AND EDUCATIONG4-LA10 Programsforskillsmanagementand

lifelonglearningPlease see the Our Employeessectionofthisreport and the Tiffany Careerswebsiteforfurtherinformationontrainingandcareerdevelopment programs.

G4-LA11 Percentageofemployeesreceivingregularperformanceandcareerdevelopmentreviews,bygenderandbyemployeecategory

employeesreceiveannualperformanceandcareerdevelopmentreviews.

DIVeRSITyANDeQUALOPPORTUNITyG4-LA12 Compositionofgovernancebodiesand

breakdownofemployeesInformationonthecompositionoftheBoardofDirectorscanbefoundontheTiffany & Co. Investor Relations website.

InformationonthediversityofourworkforcecanbefoundwithintheOuremployeessectionofthisreport.

eQUALReMUNeRATIONFORWOMeNANDMeNWedonotreportonthisAspectbecausewedonotcollectinformationtothislevelofdetailforreportingexternallyatthistime.

SUPPLIER ASSESSMENT FOR LABOR PRACTICES G4-LA14 Percentageofnewsuppliersthatwere

screenedusinglaborpracticescriteriaForinformationonourSocialAccountabilityProgram,pleaseseetheSupplierResponsibilitysectionofthisreport.

G4-LA15 Significantnegativeimpactsforlaborpracticesinthesupplychainand actionstaken

ForinformationonourSocialAccountabilityProgram,pleaseseetheSupplierResponsibilitysectionofthisreport.

LABOR PRACTICES GRIEVANCE MECHANISMSWereportonourprocessforcollectinginformationaboutlaborpracticesgrievancesandtakingcorrectiveactionintheGovernancesectionofthisreport,butdonotdisclosequantitativeinformationaboutthesemattersexternallyatthistime.






FREEDOM OF ASSOCIATION AND COLLECTIVE BARGAININGG4-HR4 Operations and suppliers identified in

whichtherighttoexercisefreedomofassociationandcollectivebargainingmaybeviolatedoratsignificantrisk,andmeasurestakentosupporttheserights

PleaseseetheGovernancesectionofthisreport and the Tiffany & Co. Investor Relations websiteforTiffany&Co.policiesinthisarea.PleaseseetheSupplierResponsibilitysectionofthisreportforanunderstandingofhowthismatterisreviewedwithinoursupplychain.

CHILD LABORG4-hR5 Operations and suppliers identified

ashavingsignificantriskforincidentsofchildlabor,andmeasurestakentocontributetotheeffectiveabolitionofchildlabor

Tiffany&Co.facilitiesabidebyourcorporatestandardsandarenotatriskforincidents ofchildlabor.Informationonthescreening ofoursupplychainfortheseriskscanbefoundintheSupplier Responsibilitysectionofthisreport.

FORCED OR COMPULSORY LABORG4-hR6 Operations and suppliers identified as

havingsignificantriskforincidentsofforcedorcompulsorylabor,andmeasurestocontributetotheeliminationofallformsofforcedorcompulsorylabor

Tiffany&Co.facilitiesabidebyourcorporatestandardsandarenotatriskforincidents offorcedlabor.InformationonthescreeningofoursupplychainfortheseriskscanbefoundintheSupplier Responsibilitysectionofthisreport.

SECURITY PRACTICESBasedontheIndicatorofthisAspect,SecurityPracticesisnotmaterialtoTiffany&Co.asdeterminedthroughourmaterialityreviewprocess,describedintheAbout This Reportsectionofthisreport.

HUMAN RIGHTS

INVESTMENTG4-HR2 Totalhoursofemployeetrainingon

humanrightspoliciesorproceduresconcerningaspectsofhumanrightsthatare relevant to operations

Tiffany&Co.officersandemployeesperformanannualreviewoftheTiffany & Co. Business ConductPolicy.Beginningin2010,english-speakingemployeesreceivedonlinetrainingontheBusinessConductPolicyandthisprogramhasbeentranslatedforusebythevastmajorityoftheCompany.In2014, thoseemployeesthatdidnotreceivetheonlinetrainingperformedanannualreview oftheBusinessConductPolicyintheir locallanguage.

NON-DISCRIMINATIONWereportonourprocessforcollectinginformationaboutincidentsofdiscriminationandtakingcorrectiveactionintheGovernancesectionofthisreport,butdonotdisclosequantitativeinformationaboutthesemattersexternallyatthistime.






HUMAN RIGHTS GRIEVANCE MECHANISMSWereportonourprocessforcollectinginformationabouthumanrightsgrievancesandtakingcorrectiveactionin the Governancesectionofthisreport,butdonotdisclosequantitativeinformationabouthumanrightsgrievancemechanismsexternallyatthistime.

SOCIETY

LOCAL COMMUNITIESG4-SO1 Percentageofoperationswith

implementedlocalcommunityengagement,impactassessmentsanddevelopment programs

Forinformationonouroperations’impactonthecommunity,pleaseseetheResponsibleMiningsectionofthisreport.

G4-SO2 Operationswithsignificantnegativeimpactsonlocalcommunities

AdiscussionofhowTiffany&Co.interactswiththecommunitieswhereweoperatecanbefoundintheBuildingFootprintandResponsibleMiningsectionsofthisreport.

ANTI-CORRUPTIONG4-SO3 Totaloperationsassessedforrisks

relatedtocorruptionandthesignificantrisksidentified

Forinformationonourriskassessmentprocesses,pleaseseetheGovernancesectionofthisreport.

G4-SO4 Communicationandtrainingonanti-corruptionpoliciesandprocedures

Allemployeesarerequiredtoannuallyreviewthe Tiffany&Co.BusinessConductPolicy. In addition,employeeswhoseresponsibilitiesarelikelytoinvolveinteractionswithgovernmentofficialsarerequiredtoannuallyundergotrainingontheForeignCorruptPracticesAct.Forfurtherinformation,pleaseseetheGovernancesectionofthisreport.

INDIGENOUS RIGHTSG4-hR8 Totalnumberofincidentsofviolations

involvingrightsofindigenouspeoplesandactionstaken

InformationonhowTiffany&Co.supportsindigenousrightsandaffectedcommunitiescanbefoundwithintheResponsible Mining sectionofthisreport.

ASSESSMENTG4-HR9 Total operations that have been

subjecttohumanrightsreviewsorimpactassessments

InformationaboutourhumanrightsreviewpracticescanbefoundwithintheResponsible Mining,ethicalSourcing and Governance sectionsofthisreport.

SUPPLIER HUMAN RIGHTS ASSESSMENTG4-HR10 Percentageofnewsuppliersthatwere

screenedusinghumanrightscriteriaForinformationonourSocialAccountabilityProgram,pleaseseetheSupplier Responsibilitysectionofthisreport.

G4-HR11 Significantnegativehumanrightsimpactsinthesupplychainand actionstaken

InformationaboutourhumanrightsreviewpracticescanbefoundwithintheSupplier Responsibility,Responsible Mining and Governancesectionsofthisreport.




G4-SO10 Significantnegativeimpactsonsocietyinthesupplychainandactionstaken

ForinformationonourSocialAccountabilityProgram,pleaseseetheSupplier Responsibilitysectionofthisreport.

GRIEVANCE MECHANISMS FOR IMPACTS ON SOCIETY WereportonourprocessforcollectinginformationaboutgrievancesandtakingcorrectiveactionintheGovernancesectionofthisreport,butdonotdisclosequantitativeinformationaboutgrievancemechanismsforimpactsonsocietyexternallyatthistime.

PRODUCT RESPONSIBILITY

CUSTOMER HEALTH AND SAFETYG4-PR1 Percentageofsignificantproductand

servicecategoriesforwhichhealthandsafetyimpactsareassessedforimprovement

Tiffany&Co.placesahighpriorityonproductsafety,withdedicateddepartmentsfocusedonevaluatingandreviewingourmerchandisebasedonqualityandproductsafety.

G4-PR2 Incidentsofnon-compliancewithregulationsandvoluntarycodesconcerningthehealthandsafetyimpactsofproductsandservicesduringtheirlifecycle,bytypeofoutcomes

Tiffany&Co.didnothaveincidentsofnon-compliancewithregulationsandvoluntarycodesconcerningthehealthandsafetyimpactsofproductsin2014.

PRODUCT AND SERVICE LABELING Tiffany&Co.isnotcurrentlyrequiredtoreportonthesustainabilityimpactsofourproducts.FurtherinformationonthesourcingofourproductscanbefoundwithintheResponsible Mining and ethicalSourcing sectionsofthisreport.

PUBLIC POLICYG4-SO6 Totalvalueofpoliticalcontributionsby

countryandrecipient/beneficiaryThe 2014 AnnualPoliticalSpending DisclosurecanbefoundontheTiffany & Co. Investor Relations website.

ANTI-COMPETITIVE BEHAVIORG4-SO7 Totalnumberoflegalactionsforanti-

competitivebehavior,anti-trustandmonopolypracticesandtheiroutcomes

None

COMPLIANCEG4-SO8 Monetaryvalueofsignificantfinesand

totalnumberofnon-monetarysanctionsfornon-compliancewithlawsandregulations

Tiffany&Co.wasnotsubjecttoanysignificantfinesorsignificantnon-monetarysanctionsfornon-compliancewithlawsandregulations in 2014.

SUPPLIER ASSESSMENT FOR IMPACTS ON SOCIETYG4-SO9 Percentageofnewsuppliersthatwere

screenedusingcriteriaforimpactsonsociety

ForinformationonourSocialAccountabilityProgram,pleaseseetheSupplier Responsibilitysectionofthisreport.







MARKeTINGCOMMUNICATIONSG4-PR6 Saleofbannedordisputedproducts Tiffany&Co.workstocomplywithapplicable

lawsandregulations,includingthoseregardingthesaleofbannedordisputedproducts.

G4-PR7 Totalnumberofincidentsofnon-compliancewithregulationsandvoluntarycodesconcerningmarketingcommunications,includingadvertising,promotionandsponsorship,bytypeofoutcomes

Tiffany&Co.didnothaveanyincidentsofnon-complianceformarketingcommunicationsin2014.

CUSTOMER PRIVACYG4-PR8 Totalnumberofsubstantiated

complaintsregardingbreachesofcustomerprivacyandlossesofcustomerdata

Notdisclosed

COMPLIANCEG4-PR9 Monetaryvalueofsignificantfines

fornon-compliancewithlawsandregulationsconcerningtheprovisionanduseofproducts

Nottracked



United Nations Global Compact— Communication on progress 2014In 2011, Tiffany & Co. joined the United Nations Global Compact, a strategic policy initiative for businesses committed to aligning their operations and strategies with Ten Principles in the areas of human rights, labor, environment and anti-corruption. The table below shows how we are communicating on progress for the Ten Principles. For further information on the UN Global Compact, please see www.unglobalcompact.org.

GLOBAL COMPACT PRINCIPLES

Businessesshouldsupportandrespecttheprotectionofinternationallyproclaimedhuman rights.

Businessesshouldmakesuretheyarenotcomplicitinhumanrightsabuses.


Businessesshouldupholdthefreedomofassociationandtheeffectiverecognitionoftherighttocollectivebargaining.

Businesses should uphold the elimination ofallformsofforcedandcompulsorylabor.

Businessesshouldupholdtheeffectiveabolitionofchildlabor.

Businesses should uphold the elimination ofdiscriminationinrespectofemploymentandoccupation.

HUMAN RIGHTS

PRINCIPLE

1

2

LABOR

PRINCIPLE

3

4

5

6

COMMUNICATION ON PROGRESS

Tiffany&Co.adherestokeypoliciesandproceduresinordertosafeguardhumanrightswithin the Company and throughout our supplychain.Thesepoliciesandproceduresare detailed in the Governancesectionofthisreport.WithintheCompany,wewelcome diversity and strive to offer all employees an equitableandrespectfulworkingenvironment(seeResponsible Mining and Our Employees).TheCompany’sSocialAccountabilityProgram(seeSupplierResponsibility)rigorously evaluatesvendorstobetterprotecthumanrightsinoursupplychain.Beyondthesespheresofinfluence,Tiffany&Co.iscommittedto protectinghumanrightsthroughouttheindustryandseekstoadvancethehigheststandardsinresponsiblemining(seeResponsible Mining).


Tiffany&Co.recognizesandrespectstheimportanceofstringentlaborstandardstoprotectworkersworldwide.TheTiffany&Co.Internal Audit Department provides oversight andguidancetoenhancecompliancewithapplicablelawsandregulationstofosterapositiveandethicalworkenvironmentforCompanyemployees(seeGovernance and Our Employees).TheCompany’sSocialAccountabilityProgramcarefullymonitorsvendorperformanceinrelationtolaborstandards,specificallyevaluatingfreedomofassociationandcollectivebargaining,forcedlabor,childlaboranddiscrimination(seeSupplier Responsibility).Additionally, Tiffany&Co.supportsthestrengtheningofindustry-wide labor standards beyond our immediateoperations(see Responsible Mining).

STANDARDS


http://www.unglobalcompact.org


Businesses should support a precautionaryapproachtoenvironmentalchallenges.

Businessesshouldundertakeinitiativesto promote greater environmental responsibility.

Businessesshouldencouragethedevelopmentanddiffusionofenvironmentallyfriendlytechnologies.


Businessesshouldworkagainstcorruptioninallitsforms,includingextortionandbribery.

ENVIRONMENT

PRINCIPLE

7

8

9

ANTI-

PRINCIPLE

10


Tiffany&Co.drawsonthenaturalworldforbothdesigninspirationandtheprecious materialsusedinourproducts.Atthe Company’scoreisacommitmenttopreserve,protectandresponsiblymanagethe environmentonwhichwerelyforourlong- termsuccess.TheCompanypromotes environmental responsibility by leveraging theTiffanybrand.Forexample,theCompanyplays a leadership role in industry-wide collaborativeeffortstoprotectagainst environmentaldamageacrossthesupply chain,raisesawarenessofrisksassociated withmininginecologicallysensitiveareas anddirectlysourcesfromminesthatare committedtoenvironmentalstewardship.Theseefforts are strengthened by the Foundation’s supportofscientificresearch,conservationandmultistakeholdercollaborationtopromotethemost environmentally responsible standards in miningoperations(seeResponsibleMining). Inadditiontoaddressingtheimpactsofmining,weregularlylooktoreduceourenvironmentalfootprintinotherways,fromusingrecycled contentandFSC®-certifiedsourcesforour boxesandbagstoreducingourgreenhouse gasemissions(seePaper&Packagingand BuildingFootprint).


The Tiffany&Co.BusinessConductPolicy sets forthexpectationsforTiffany&Co.employees,includingcompliancewithrelevantlawsandregulations.Thispolicyprohibitspaymentofbribesortheacceptanceofinappropriate paymentsorgifts.Allemployeesarerequiredtoreviewthepolicyuponhireandthereafteronanannualbasistomakesurethattheyunderstandthesestandards(seeGovernance).Withinoursupplychain,Tiffany&Co.requiresvendorsintheSocialAccountabilityProgramtoannuallyreviewtheVendorCodeofConduct,which outlinesexpectationsforethicalconductandlegalcompliance(seeSupplierResponsibility).

CORRUPTION



Forward-Looking StatementThisTiffany&Co.SustainabilityReport,includingdocumentsorreportsincorporated

hereinbyreference,containscertain“forward-lookingstatements”concerning

Tiffany&Co.’sgoals,plansandprojectionswithrespecttocorporateresponsibility,

sustainability,employees,environmentalmatters,policy,procurementandbusiness

risksandopportunities.Inaddition,Tiffany&Co.makesotherforward-looking

statementsconcerningsustainabilityobjectivesandexpectations.Onecanidentify

theseforward-lookingstatementsbythefactthattheyusewordssuchas“believes,”

“intends,”“plans”and“expects”andotherwordsandtermsofsimilarmeaningand

expressioninconnectionwithanydiscussionoffuturesustainabilityinitiativesand

objectives.Onecanalsoidentifyforward-lookingstatementsbythefactthatthey

donotrelatestrictlytohistoricalorcurrentfacts.Suchforward-lookingstatements

arebasedonTiffany&Co.’scurrentplanandinvolveinherentuncertaintiesand

assumptionsthatcouldcauseactualoutcomestodiffermateriallyfromthecurrentor

reportedplan.TheresultsofTiffany&Co.’songoingbusinessriskanalysiscouldcause

actualresultstodiffermateriallyfromanyforward-lookingstatement.

Although Tiffany & Co. believes that we have been prudent in our plans and

assumptions,noassurancecanbegiventhatanysustainabilitygoalorplansetforth

inforward-lookingstatementscanorwillbeachievedandreadersarecautionednot

toplaceunduerelianceonsuchstatements.Tiffany&Co.undertakesnoobligation

toupdateanyoftheforward-lookinginformationinthisreport,whetherasaresultof

newinformation,futureevents,changesinsustainabilityobjectivesandexpectations

or otherwise.


Appendix: Report of Independent AccountantsTiffany&Co.choosestovoluntarilyreportonoursustainabilityperformance

andhasdesignedprocessestocollectand/orestimate,assessandreportonthis

data.Tiffany&Co.Managementisresponsibleforthecompleteness,accuracyand

validityoftheinformationcontainedinthe2014SustainabilityReport.Weengaged

PricewaterhouseCoopersLLP(PwC),ourindependentregisteredpublicaccounting

firm,toreviewandreportonselectsustainabilitymetricssetforthinthisreport.A

copyoftheirfindingscanbefoundwithintheReportofIndependentAccountants.

Appendix | 101

PricewaterhouseCoopers LLP, 300 Madison Avenue, New York, NY 10017 T: (646) 471 3000, F: (813) 286 6000, www.pwc.com/us

Report of Independent Accountants

To the Board of Directors and Management of Tiffany & Co.

We have reviewed management’s assertion, included in the accompanying Appendix A, that the selected sustainability metrics identified below and denoted by an asterisk (*) within the Tiffany & Co. Sustainability Report, for the periods as indicated below, are presented in conformity with the assessment criteria set forth in management’s assertion in Appendix A (the “assessment criteria”).

Percentage raw direct metals traceable to mine – February 1, 2014 to January 31, 2015 Percentage raw direct metals traceable to recycler – February 1, 2014 to January 31, 2015 Percentage rough diamonds traceable to mine or source

o Botswana, Namibia, and South Africa – January 1, 2014 to December 31, 2014 o Belgium – February 1, 2014 to January 31, 2015

Economic Beneficiation o Botswana and Namibia – January 1, 2014 to December 31, 2014

Social Beneficiation – percentage local employees o Botswana and Namibia – as of December 31, 2014

Percentage paper certification in packaging – as of January 31, 2015 Gender diversity by management level – as of January 31, 2015 Generation diversity – as of January 31, 2015 Ethnic diversity – United States – July 18, 2014 to July 31, 2014 Total recordable incidence rate – United States – January 1, 2014 to December 31, 2014 Greenhouse gas emissions – Scope 1 and scope 2 – February 1, 2014 to January 31, 2015 Greenhouse gas emissions – Scope 1 and scope 2 per square foot - February 1, 2014 to January

31, 2015 Foundation grantmaking - January 1, 2014 to December 31, 2014

Tiffany & Co. management is responsible for the assertion and for the assessment criteria which it has identified as an objective basis against which it assesses and reports on the selected sustainability metrics. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation of selected data that is free from material misstatement, whether due to fraud or error.

Our review was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. A review is designed to provide limited assurance, and as such is substantially less in scope than an examination, the objective of which is the expression of an opinion on management’s assertion. Accordingly, we do not express such an opinion. The procedures we perform included inquiries of persons responsible for the selected sustainability metrics, understanding the processes for collecting and reporting the selected sustainability metrics, analytical procedures, and the inspection of documents.

Greenhouse gas (“GHG”) quantification is subject to inherent uncertainty because of such things as emission factors that are used in mathematical models to calculate emissions and the inability of those models, due to incomplete scientific knowledge and other factors, to precisely characterize under all circumstances the relationship between various inputs and the resultant emissions. Environmental and energy use data used in GHG emissions calculations are subject to inherent limitations, given the nature and the methods used for determining such data. The selection of different but acceptable measurement techniques may result in materially different measurements.

Data related to certain of the other sustainability metrics is subject to inherent limitations given the nature and the methods used for determining such data. The selection of different but acceptable measurement techniques can result in materially different measurements.

Based on our review, nothing came to our attention that caused us to believe that the selected sustainability metrics referred to above are not fairly stated, in all material respects, based on the corresponding assessment criteria set forth in Appendix A.

As discussed in Appendix A, the Company has estimated GHG emissions for all locations globally for which no primary electricity, natural gas or steam usage data is available using building intensity metrics from 2013 actual baseline data. We did not review the 2013 baseline information.

May 29, 2015

Appendix A

Management Assertion Tiffany & Co. is responsible for the completeness, accuracy and validity of the sustainability metrics contained in the Sustainability Report as of or for the periods indicated. The sustainability metrics presented include Tiffany & Co. and its subsidiary operations (hereinafter, “Tiffany & Co.”). Data was collected for Tiffany & Co. global locations and activities including manufacturing sites, offices, retail stores and distribution centers. With respect to the sustainability metrics in the Tiffany & Co. Sustainability Report identified and denoted by an asterisk (*), Management of Tiffany & Co. asserts that such sustainability metrics are presented in conformity with the assessment criteria set forth below. The figures included in this report have been rounded to the nearest whole number unless otherwise indicated.

Metric Description Definition of Metric Metric Quantity Percentage raw direct metals traceable to mine

The weight in troy ounces, expressed as a percentage, of raw silver, gold and platinum procured by Tiffany & Co. manufacturing facilities directly from a mine during the period February 1, 2014 to January 31, 2015 as indicated by either (1) the contractual terms with the supplier, which require metals to be purchased from a specific mine(s) or (2) the details listed on the invoice received.

Total Precious Metals – 63%

Silver – 65% Gold – 22%

Platinum – 73%

Percentage raw direct metals traceable to recycler

The weight in troy ounces, expressed as a percentage, of raw silver, gold and platinum procured by Tiffany & Co. manufacturing facilities directly from a recycler during the period February 1, 2014 to January 31, 2015 as indicated by either (1) contractual terms with the supplier, which require a percentage of metals be recycled, (2) the details listed on the invoice received or (3) a statement on the recycler’s website as of January 31, 2015 stating that the metal is 100% recycled.

Total Precious Metals – 36%

Silver –35% Gold – 78%

Percentage rough diamonds traceable to the mine or source

The weight in carats, expressed as a percentage, of rough diamonds received by Tiffany & Co. which were purchased directly from a supplier that sources from one mine or from a supplier that sources from multiple known mines, but is not traceable to a specific mine, during the period January 1, 2014 to December 31, 2014 from Botswana, Namibia and South Africa, and February 1, 2014 to January 31, 2015 from Belgium as indicated by either (1) the contractual terms with the supplier, which require the diamonds to be purchased from a specific mine(s), (2) the details listed on the invoice received or (3) information available on the specific supplier’s website with respect to mining location.

100%

Economic beneficiation

The U.S. dollar equivalent of beneficiation paid during the period January 1, 2014 to December 31, 2014 by Tiffany & Co. in Botswana and Namibia: diamond-producing countries whose governments require beneficiation. This amount includes payments to domestic suppliers for rough diamonds, materials and services, taxes, community donations and payroll and benefit costs related to the Laurelton Diamonds facilities.

$79,021,239

Social beneficiation — percentage local employees

The number, expressed as a percentage, of local employees as of December 31, 2014 who are employed by Laurelton Diamonds in Botswana and Namibia as evidenced by Human Resources records.

86%

Percentage paper certification in packaging

The percentage of Forest Stewardship Council (“FSC®”)-certified paper suppliers of blue bags and boxes, based on supplier status, as of January 31, 2015, for blue bags and boxes purchased/received by Tiffany & Co. during the period February 1, 2014 to January 31, 2015.

100%

Gender diversity by management level

The diversity of the global workforce, including temporary and seasonal employees, according to gender as self-reported, and management level as recorded in the Company’s Human Resources systems as of January 31, 2015, where permitted by local law and excludes the Board of Directors which is separately presented.

Board of Directors Female – 20%

Male – 80% Vice President and Above

Female – 41% Male – 58%

Undeclared – 1% Manager and Above


Undeclared – 2% Global Workforce


Undeclared – 2% Generation diversity The diversity of the global workforce, including temporary

and seasonal employees, according to gender and date of birth as self-reported and recorded in the Company’s Human Resources systems as of January 31, 2015, where permitted by local law.

1922–1944 Female – 19

Male – 11 Undeclared – 0

1945–1954 Female – 254 Male – 194

Undeclared – 7 1955–1964

Female – 833 Male – 645

Undeclared – 15 1965–1980

Female – 2,794 Male – 1,500

Undeclared – 76 1981–Present

Female – 4,798 Male – 1,421

Undeclared – 156 Birthdate not declared

Female – 2 Male – 2

Undeclared – 0 Ethnic diversity – United States

The diversity of the workforce, including temporary and seasonal employees, employed in the United States according to ethnicity as self-reported and recorded in the Company’s Human Resources systems during the time period of July 18, 2014 to July 31, 2014.

White – 50.49% Hispanic – 16.68%

Asian-American – 13.47% African-American – 8.52%

Two or More Races – 1.16%

Native Hawaiian and Other Pacific Islander –

0.49% American Indian or

Alaskan Native – 0.19% Undeclared – 9.00%

Total recordable incidence rate – United States

The number of recordable injuries or illnesses (based on the OSHA definition of a recordable incident) per 100 full-time equivalent United States employees (designated as such in the Human Resources systems), during the period January 1, 2014 to December 31, 2014, as indicated on the Human Resources systems report as of January 22, 2015.

2.21 incidences per 100 full-time employees

Greenhouse gas emissions – Scope 1 and Scope 2

The quantity in metric tons of carbon dioxide equivalent greenhouse gas emissions during the period February 1, 2014 to January 31, 2015. See below for additional information on GHG emission factors and estimates.

Total – 46,388 Scope 1 – 2,959

Scope 2 – 43,429

Greenhouse gas emissions – Scope 1 and Scope 2 per square foot

The quantity in pounds of carbon dioxide equivalent greenhouse gas emissions per square foot of operated space during the period of February 1, 2014 to January 31, 2015.

34.0 pounds per square foot

Foundation grantmaking

The U.S. dollar amount of grantmaking that The Tiffany & Co. Foundation paid to United States nonprofit organizations during the period January 1, 2014 to December 31, 2014.

$6,135,000

GHG emission factors

The carbon dioxide emissions and equivalents associated with the activities noted above have been determined on the basis of measured or estimated energy and fuel use, multiplied by relevant carbon emission factors. Published emission factors were used to calculate emissions from operations.

Emission Source

Emission Source Type

Emission Factor Employed

Scope 1, Global Natural gas, propane and other fossil fuel use

Except where noted, GHG emissions from energy consumption are calculated using the emission factors from EPA’s Mandatory Report Rule.

Scope 2, United States

Electricity Tiffany & Co. uses United States EPA eGRID sub-region emission factors for electricity purchased in the U.S. Electricity emission factors are updated annually based on the most current data available. Tiffany & Co. used the most up-to-date sets of factors available as of March 25, 2015.

Scope 2, Australia

Electricity Tiffany & Co. uses state and territory emission factors for electricity purchased in Australia provided by the Australian Government Department of Climate Change and Energy Efficiency. Tiffany & Co. used the most up-to-date sets of factors available as of March 25, 2015.

Scope 2, United Kingdom

Electricity Tiffany & Co. uses national emission factors for electricity purchased in the United Kingdom provided by the U.K.’s Department for Environment, Food and Rural Affairs. Tiffany & Co. used the most up-to-date sets of factors available as of March 25, 2015.

Scope 2, Brazil Electricity Tiffany & Co. uses national emission factors for electricity purchased in Brazil provided by the Brazilian Ministry of Science, Technology and Innovation. Tiffany & Co. used the most up-to-date sets of factors available as of March 25, 2015.

Scope 2, Canada Electricity Tiffany & Co. uses provincial emission factors for electricity purchased in Canada provided by the Canadian Government. Tiffany & Co. used the most up-to-date sets of factors available as of March 25, 2015.

Scope 2, Rest of the world

Electricity For all other locations, Tiffany & Co. uses national emission factors provided by the International Energy Agency (IEA). Emissions for Guam and Mauritius are not covered by the IEA factor set, so Tiffany & Co. uses the IEA emission factors for Jamaica for both as a country with a comparable emissions profile. Tiffany & Co. used the most up-to-date sets of factors available as of March 25, 2015.

Base data

Base data utilized in the calculation of consolidated Scope 1 (direct) and Scope 2 (indirect) GHG emissions is obtained from direct measurements, third-party invoices or estimates. Tiffany & Co. estimates are used where measurement data is not readily available.

Estimation methodology for electricity, natural gas and other fossil fuel use

If no primary electricity, natural gas or steam usage data is available for a given month, consumption is estimated based on the floor area occupied by Tiffany & Co. and the Company’s regional average electricity, natural gas and steam use by building type (Laurelton Diamonds, warehouse, manufacturing, retail, mixed use, office). The building intensity metrics were established using 2013 data for all regions and building types. For each site that uses other fuels, such as acetylene, diesel, or propane, annual usage is estimated based on three-year annual averages from the 2010-2013 time period. Annual emissions due to refrigerant leakage are estimated for all facilities based on facility floor area. Emission intensity per square foot due to refrigerant leakage is estimated based on a three-year average from the 2010-2013 time period for all Tiffany & Co. sites for which primary refrigerant data was available.

Emission

Source Emission Source

Type Estimation Factor Employed per Facility Type

Scope 1, Global Natural gas Therms/Square Foot/Month Laurelton Diamonds – 0.02218 Warehouse – 0.02218 Manufacturing – 0.033512 Retail – 0.00989 Mixed Use – 0.2260 Office – 0.02218

Scope 2, Global Electricity kWh/Square Foot/Month Laurelton Diamonds– 1.166 Warehouse – 1.330 Manufacturing – 1.428 Retail – 3.075 Mixed Use – 2.550 Office – 1.147

Approximately 20% of the Scope 1 and 2 emissions are estimated for the period February 1, 2014 to January 31, 2015.

Organizational boundary

In conformance with the GHG protocol, reported direct and indirect GHG emissions represent 100% of the emissions from the facilities where Tiffany & Co. has operational control.

Uncertainty

GHG quantification is subject to inherent uncertainty because of such things as emissions factors that are used in mathematical models to calculate emissions and the inability of those models, due to incomplete scientific knowledge and other factors, to precisely characterize under all circumstances the relationship between various inputs and the resultant emissions. Environmental and energy use data used in GHG emissions calculations are subject to inherent limitations, given the nature and the methods used for determining such data. The selection of different but acceptable measurement techniques may result in materially different measurements.

© Tiffany and Com

pany, 2015

Documents

2014 · Tiffany & Co. Investor Relations website. ‡ For the purposes of this Report, the terms “Tiffany & Co.,” the “Company,” and “we,” “us,” “our” are used