PANDORA CSR Report 2011 - page 11

investigate the origin of gold entering our supply chain
and strive towards traceable gold sourcing.
Gold is one theworld commoditieswith the highest
recycling percentage. It is estimated that between90 and
100 per cent of all gold re-enters the global market through
recycling.The drawback to this positive fact is that recycling
makes it extremely difficult to determine the exact origin of
gold. In2012 PANDORAwill work to introduce procedures
that meet, or exceed, the upcoming “OECDDueDiligence
Guidance for Responsible SupplyChains for Gold”.While
theOECD guidance has not yet been finalised, and since
there is no creditable gold certification system in operation,
PANDORAhas decided to start developing our owndue
diligence procedureswithin gold sourcing.Thus, in 2011
PANDORA initiated a project to ensure that we can trace
the origin of our gold to either responsiblemining or recy-
cling facilities that have been certified by the Responsible
JewelleryCouncil. Further, as amember of the RJC Stand-
ards Committee, PANDORA actively participates inRJC’s
initiative to develop a voluntaryChain of Custody certifica-
tion system.TheChain of custody certification is expected
to be released in 2012.
InDecember 2011we joined forceswith “Solidaridad”,
a leadingNGOwithin responsible gold sourcing.Together
wewish to explore the feasibility of assisting amedium
scalemine to achieve the RJC certification and thus develop
a fully transparent and traceable sourcing process from that
mine to themarket. If successful, this project might serve as
amodel for other jewellery brands and small andmedium
sizedmining companies to follow.
For several years, PANDORA hasmarketed FSC certified
wood beads, andwe continuously seek to expand the
range of paper andwoodbasedmaterials certified accord-
ing to international standards.Thus, in2011we decided to
implement a full shift to certifiedpaper bags, a goal that we
expect to reach in 2012. Finally, we are investigating the
feasibility of ensuring certifiedpaper in printedbrochures
and jewellery boxes across all markets.
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