Pandora has become the first big jeweller to target using all recycled gold and silver in its products as the Danish group aims to replace mined precious metals by 2025.
The world's largest jewellery maker by volume, Pandora already uses mostly recycled silver and gold in products it makes but is now seeking to get all its suppliers to reach 100 per cent recycled, said chief executive Alexander Lacik.
“We have to reach deeper into our own supply chain. They have some way to go. It will cut back on CO2 and reduce pollution. It is hopefully a call to action for our partners and other people,” he added.
Pandora, known for its charms, is aiming to become carbon neutral by 2025 and 71 per cent of silver and gold it uses is recycled. Only about 15 per cent of the world’s silver supply comes from recycled metal even though it has carbon emissions that are one -third of mined silver. Recycled gold has emissions 600 times lower than mined gold, according to Pandora.
The company is not counting on a big sales effect when it makes the move. And Mr Lacik said the Danish group may even need to educate customers that there is no difference between mined and recycled precious metals.
Silver and gold account for about three-quarters of Pandora’s metal use, with the rest – copper, palladium, steel – not covered by the recycling target. Pandora uses 340 tonnes of silver and 300kg of gold a year. – Copyright The Financial Times Limited 2020
