Pandora ensures the provenance of its recycled metals through a comprehensive approach that emphasizes certification, supplier engagement, and strict adherence to industry standards. Here are the key strategies the company employs:
Certification Standards
Responsible Jewellery Council (RJC) Chain of Custody: All suppliers must source materials that are certified as recycled according to the RJC Chain of Custody Standard, which is recognized as one of the strictest standards in the jewelry industry. This certification process ensures that the recycled metals are traceable and meet ethical sourcing criteria.
Supplier Engagement
Transition Support: Pandora has actively engaged with its suppliers to facilitate their transition to sourcing only certified recycled metals. This has involved introducing new processes and equipment to ensure complete segregation of mined and recycled materials throughout the supply chain, including during sorting, melting, and manufacturing.
Employee Involvement: Over 100 Pandora employees have been dedicated to overseeing this transition, working closely with suppliers to ensure compliance with sustainability goals and standards.
Sourcing Strategy
Global Search for Recycled Metals: Given that less than 20% of the world's silver supply comes from recycled sources, Pandora had to identify and establish relationships with various refineries around the globe. The company primarily sources recycled silver from discarded electronics, old jewelry, and manufacturing scrap.
Inventory Management: As part of its strategy, Pandora is allowing time for existing inventories of non-recycled metals to deplete before fully transitioning to 100% recycled materials in its products by mid2024. In 2023, approximately 97% of the silver and gold sourced for Pandora's jewelry was already recycled.
Environmental Impact Monitoring
Carbon Emission Reduction Goals: By shifting to recycled metals, Pandora anticipates avoiding around 58,000 tons of CO2 emissions annually. This significant reduction is monitored as part of its broader sustainability initiatives aimed at minimizing the environmental impact of its operations.
Conclusion
Through rigorous certification processes, strong supplier relationships, and a commitment to transparency in sourcing practices, Pandora effectively ensures the provenance of its recycled metals. This approach not only supports the company's sustainability goals but also sets a precedent for ethical practices within the jewelry industry.
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