Sustainability practices in the jewelry sector: An examination of the luxury jewelry brand Tiffany&Co. and the gold mining company Gold Fields

This thesis examines sustainability practices in the jewelry sector through the cases of the luxury jewelry brand Tiffany & Co. and the global gold mining company Gold Fields. The study presents a comprehensive framework, beginning with the historical origins of the concept of sustainability, the environmental impacts of industrialization, and the reflections of international climate policies and the Sustainable Development Goals (SDGs) on the sector. Tiffany & Co. has set ambitious 2025 targets, including achieving full traceability of diamonds and precious metals, sourcing at least 50% of its gold from recycled sources and 5% from artisanal and small-scale mining, and ensuring that all suppliers comply with responsible sourcing principles. Further strategies include integrating circular economy principles into product design, producing 80% of packaging from recycled materials, promoting diversity and inclusion to enhance employee engagement, reducing environmental impacts through LEED-certified buildings, and advancing towards a carbon-neutral business model. Gold Fields, founded in 1887, operates as one of the world's leading gold mining companies, employing more than 17,000 people across five continents. The company consistently ranks highly in indices such as the Dow Jones Sustainability Index and FTSE4Good, while strengthening its global accountability through participation in the World Gold Council's Responsible Gold Mining Principles program. Since 2004, the Gold Fields Ghana Foundation has invested over USD 100 million in community development, focusing on education, health, and infrastructure. The company has also reduced its carbon footprint through energy transition projects and increased female workforce representation to 21%. Its 2030 goals include a 50% absolute reduction in Scope 1 and 2 emissions, a 45% reduction in total water consumption, and 80% water recycling. In conclusion, while Tiffany & Co. emphasizes supply chain transparency and ethical production, Gold Fields demonstrates leadership in energy transition, community investment, and compliance with international standards, positioning both as strong actors in sustainability. Their sustainability efforts, analyzed through the event timeline method and corporate reports, reveal significant progress in a highly competitive sector. However, uncertainties remain as to whether these efforts will be sufficient to achieve global sustainability objectives. Nevertheless, the two cases provide valuable benchmarks and guidance for other companies operating in the same segment as well as for new entrants to the industry.