Pandora_Sustainability_Report_2018

Silver, Gold & Stones Origin of gold 100% RJC-certified suppliers 100% certified conflict free ORIGIN OF PRECIOUS METALS 100% Recycled Origin of silver 100% RJC- or LBMA-certified suppliers 12% Mined 88% Recycled The vast majority of the silver and gold used by Pandora comes from recycled sources RJC Code of Practices (COP) Standard The COP defines responsible ethical, human rights, social and environmental practices for businesses in the jewellery industry. 100% pure silver grains being measured for a mould Silver and Gold The foundation of the majority of our jewellery is silver and gold. Mining and processing of precious metals and gemstones can be associated with adverse social and environmental impacts, and as a jewellery industry leader, we recognise our ability and responsibility to help develop a more responsible supply chain for core jewellery materials. All gold grains entering Pandora’s crafting facilities were sourced from reputable refining companies, certified according to the Responsible Jewellery Council (RJC) Code of Practices (COP). Furthermore, all gold must be certified conflict-free according to the London Bullion Market Association (LBMA) “Good Delivery List” or the RJC Chain-of-Custody Standard for gold. In 2019 the RJC will expand its scope and integrate silver into the COP standard. Pandora fully supports this initiative and has actively participated in the development of the standard. Today, all of our silver grain suppliers are RJC/LBMA-certified refiners. Additionally, Pandora cooperates with a number of highly specialised manufacturers of semi-finished gold and silver parts. These partners must deliver auditable proof that the gold and silver used in their products is also sourced from RJC/LBMA-certified refiners. Environmental benefits In addition to the alluring look and fantastic crafting potential, using gold and silver can also have environmental benefits. Unlike most other materials, gold and silver can be perpetually recycled without their quality being diminished. All the gold and 88% of the silver used at our crafting facilities in 2018 originated from recycled sources. The remaining 12% of silver originated from virgin materials supplied by RJC/LBMA-certified refiners. A study conducted for Pandora by environmental cost experts calculated the cost to society of environmental damage from various materials and crafting methods, e.g. health costs associated with emissions. The study revealed that using recycled precious metals and man-made stones significantly reduces the environmental cost compared with mined materials. Recycling silver and gold reduces the environmental cost by more than 95% compared to mined metals. Taking top spot for responsible sourcing For the second year running, Pandora was the highest ranking company in Morgan Stanley Capital International’s annual Environmental, Social and Governance (ESG) rating of the fashion industry. In September, Pandora was commended for its focus on the responsible sourcing of gold and silver and our good working conditions. SUSTAINABILITY REPORT 2018/19 16 17 SILVER, GOLD & STONES