Danish jewellery maker Pandora it would stop using mined gold and silver in its pieces starting in 2025, a sustainability initiative first in an industry that consumes a large portion of the globe鈥檚 total precious metals output.
The Copenhagen-based company, the world鈥檚 largest jewellery maker by volume,聽said its shift to recycled supplies would cut carbon emissions by at least 66% for silver and more than 99% for gold.
Pandora, best known for its charms, said that only about 15% of the world鈥檚 silver supply comes from recycled metal, even though reusing the metals generates a third of the carbon emissions produced by silver mining. The company said that recycled gold, in turn, has emissions 600 times lower than mined gold.
Currently, 71% of the silver and gold in Pandora鈥檚 jewellery comes from recycled sources.聽
Impact on sales
Chief executive officer Alexander Lacik said the new approach won鈥檛 diminish the quality of the jewellery produced.
鈥淢etals mined centuries ago are just as good as new,鈥� Lacik . Meanwhile, 鈥渢he need for sustainable business practices is only becoming more important,鈥� he said.
71% of the silver and gold in Pandora鈥檚 jewellery comes from recycled sources聽
Pandora did acknowledge it may have to educate customers about the lack of difference between mined and recycled precious metals.
Another key benefit of Pandora鈥檚 shift, the company said, is that there would be a significant reduction in water use as a result of less mining.
The announcement is part of the company鈥檚 master plan of . This includes emissions from Pandora鈥檚 crafting facilities, owned and operated stores, distribution sites and offices.
Annual emissions from the global gold market are equivalent to roughly 126 million tonnes of CO2. More than a third of that comes directly from mining and smelting, data from the World Gold Council shows.