PANDORA CSR Report 2011 - page 6

Following a thorough stakeholder consultation process in
2010 and early 2011, we have revised PANDORA’s CSR
Policywhich lays the foundation of our CSR related efforts:
“PANDORA is committed to advancing responsible
business practices from the sourcing of gemstones, precious
metals and othermaterials to the crafting andmarketing
of our jewellery.
We believe that corporate social responsibility and our
aspiration to offer high quality and genuine jewellery go
hand in hand. Responsible business practices and social
awareness have always been part of PANDORA’s DNA
and they are virtueswhichwe strive to honour in our daily
operations aswell as through initiatives that aim at raising
the bar for the jewellery industry.
Furthermore,we believe that our business shall benefit
our stakeholders andnot least our customers. Therefore,
PANDORAhas a social commitment to supporting charitable
purposes that inspire individuality and improve the lives of
women around theworld”.
PANDORACSR is governed by a global CSR Steering
Committee, commissioned to coordinate andmonitor
responsible business practices across our value chain, from
sourcing through crafting to the trading of our jewellery.The
Committee is headedby ourVice President GroupCSR and
further consists of the heads of Production, Procurement,
HR, andCommunications andwith our Chief Financial
Officer andChief Merchant representing the Executive
Management.TheCSR SteeringCommittee convenes once
amonth. Eachmember of theCSRCommittee is responsible
for developing and embeddingCSR in their own business
areawhiledrawingon the expertiseof our CSRunits located
inCopenhagen andBangkok.
InMarch 2011, PANDORA launched the PANDORA Life
programme by implementing the three core company values
that guide us in fulfilling our visionof becoming “… the
world’smost recognised jewellery brand”.The three values
pride, passion
• PANDORA is aPRIDEof strong individuals, skilful and
unique, thoughonly successfulwhenworking as a team.
• PANDORAPASSION iswholehearted; a big overview
and a great heart.
• PANDORAPERFORMANCE comes froma can-do
In short the sentence “PANDORA is a pride of strong
individualswith awholehearted, can-do attitude” help us
navigate on how towork together as colleagues andhow to
behave and act towards our surroundings and stakeholders.
In alignment with the overarching PANDORA Life values,
in2011PANDORAdeveloped a set of CSRpolicies defining
our standards regarding human rights, working conditions,
environmental impact andbusiness ethics.Our Business
Ethics Policy is described inmore detail in chapter 4.1.With
these policies inplace, we have a clear anduniformCSR
guidance for staff andbusiness partners aswell as a solid
platform for entering intodialoguewithother stakeholders.
Acknowledging that such rules and regulations cannot
alone provide any guarantees for responsible business prac-
tices, we have developed and tested a range of procedures,
training concepts and compliance tools.The result is aCSR
programme named “PANDORA Ethics” that guide us inhon-
oring our commitment to advancing responsible business
practices in our ownoperations aswell as in the jewellery
industry in general.
PANDORA operateswith a highly integrated value chain
covering all processes from jewellery design to after sales
service.Thismeans that appropriatemethods of ensuring
responsible business practiceswill vary across theGroup.
Thus, we have tailored our CSRProgramme to containing
threemain processes: sourcing, crafting and trading.The
remainder of the report is dedicated to communicating our
progresswithin these areas.
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