PANDORA CSR Report 2011 - page 8

In order to sell 50million pieces of jewellery in 2011,
PANDORA sourced large quantities of silver and gold,
diamonds, gemstones and othermaterials used in the pro-
ductionprocess. Further, themore than10,000 retail outlets
sellingPANDORA jewellery requireawide rangeof additional
products ranging from sales displays, jewellery boxes and
paper bags to cleaning detergents.
Withacommitment to longstandingbusiness relations
andahighly integratedbusinessmodel, our point of departure
for responsible sourcing relies onmutual respect, dialogueand
sustainablebusiness relations rather thanPANDORAusing
its buyingpower to force suppliers intodeliveringwhatmight
turnout tobe superficial or unsustainable solutions.
PANDORA Suppliers’ Code of Conduct clearly expresses
our expectations for the ethical performance of our suppli-
erswithin the realms of human rights, working conditions,
environmental impact and business ethics.To ensure that
our suppliers are aware of and complywith these expec-
tations, theCodewas adopted into all new and updated
supplier contracts during 2011.We acknowledge that such
a contractual commitment does not in itself guarantee the
implementationof responsible business practices.There-
fore, during 2011we developed, tested and adjusted a new
and comprehensive CSR Supplier Programme. The pro-
gramme instructs our sourcing and purchasing staff to adopt
a four-step approachwith the purpose of ensuring that our
suppliersmeet the requirements listed in theCode of Con-
duct, and understand complyingwith these requirements
can help them increase their ownprofitability.
Inorder to strengthen theCSR competencies and skills
of our purchasing staff and enable them to carry out their
important role in PANDORA’s four-stepCSR Programme,
in2011we trained our purchasers to identify andmitigate
CSR risks in our supply chain.The trainingwas delivered
by our CSR teams based inDenmark andThailand. Our
CSR specialists have comprehensive experience frommore
than500CSR supplier audits throughout Europe andAsia
– regions that account for almost 100per cent of our direct
supply base.The training includes supplier audits by teams
comprised of our purchasers, our CSR specialists and a
global audit companywhichwe have contracted to conduct
independent CSR audits in our supply chain.
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