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34 • GOVERNANCE AND MANAGEMENT PANDORA ANNUAL REPORT 2016
CORPORATE SOCIAL
RESPONSIBILITY
We believe that Corporate Social Responsibility (CSR), or
Ethics as we call it, and our aspiration to offer high-quality
affordable jewellery go hand in hand. We also believe it to
be a significant foundation for our vision of becoming the
world’s most loved jewellery brand.
Internally, our commitment to Ethics is reflected in our
company values of pride, passion and performance. In
addition, our integrated business model means we own
and operate the greater part of our value chain. Also, we
work closely with our suppliers and partners to ensure
high ethical standards – and communicate efforts and
performance externally in order to inspire partners and
peers to initiate similar measures.
PANDORA ETHICS
PANDORA’s Ethics Programme is integrated into our
entire value chain through policies, guidelines and
tools. Our PANDORA Ethics policies are available at
In 2016, the PANDORA Ethics Programme focused on:
• continuing implementation of our Code of Ethics
• inaugurating a new certified green crafting facility
• consumer communication and transparency
• supplier due diligence and training
We regularly perform Ethics risk assessments to define
aspirations and tailor our efforts within business integrity,
human and labour rights as well as the environment.
Aspirations and requirements within these areas are
communicated to employees through our internal Code of
Ethics. The Code is supported by operational KPIs, mandatory
training for all staff as well as awareness campaigns. Finally,
our Ethics Hotline enables all staff to raise concerns should
they perceive that our ethical standards are being breached.
In 2016, we continued the implementation of our Code
of Ethics and initiated a major review process to ensure the
Code of Ethics remains relevant to the development of the
company and stakeholder requirements.
PRODUCT, PEOPLE, PLANET
We use the headlines Product, People, Planet as our way of
operationalising and communicating our ethics philosophy,
efforts and performance to consumers, employees, industry
peers and other stakeholders. We are committed to crafting
our Products with integrity, providing proper working
conditions for our People and minimising our environmental
impact on the Planet. Product, People, Planet ensures
consistency across all of our communication channels, from
consumer-facing websites and our Annual PANDORA
Ethics Report to internal training and presentations.
COMMUNICATING ETHICS
Over the last few years, it has become
increasingly important to our consumers that
the products they buy are ethically sourced.
Therefore, besides loving our jewellery, we want
to make sure that consumers are aware that
our jewellery is sourced, crafted and traded in
compliance with the highest ethical standards
in the industry. In 2016, we proactively shared
our ethical aspirations, efforts and results with
fashion and news media, and hosted numerous
press visits to our crafting facilities in Thailand.
The participating media representatives were
very interested in three subjects in particular –
design, craftsmanship and ethical performance
– and this interest led to a great deal of ethics-
related PR coverage for PANDORA. In 2017,
we aim to intensify the communication of our
ethical standards.