The world's largest jeweler now only uses recycled metals
Pandora, known for its affordable sterling silver charm bracelets, is the largest jewelry company in the world by volume: the Danish chain sells more than 100 million pieces annually. This week it announced that it now uses only 100 percent recycled silver and gold for its collections.
The move was touted by a huge company as a major step towards reducing its carbon footprint. “We wanted to lead by example,” Pandora CEO Alexander Lacik said in an interview. “If we can make a positive contribution to society through our use of recycled gold and silver, that means anyone can do it.”
By working with metals that have already been mined, Pandora doesn't have to dig deeper in search of new materials, allowing the company to substantially reduce greenhouse gas emissions. Mining requires more energy and resources than recycling and is an important source of raw materials mercury pollution. In a 2020 press release In announcing the move to recycled metals, Pandora cited statistics from the World Gold Council and other entities showing that the process of recycling gold reduces emissions by about 99 percent compared to mining it, while recycling silver reduces the reduces carbon emissions by approximately 66 percent compared to extracting it. .
Other brands, such as Prada and Monica Vinader, have also started using recycled metals. But some industry observers warn that these materials may appear more virtuous than they actually are.
Like “sustainability,” the word “recycled” can mean different things to different people. That interpretation gap could prove problematic, says Tiffany Stevens, the CEO of the Jewelers Vigilance Committee, a New York City organization that focuses on ethics and policy advocacy in the industry.
“Recycled is a positive modifier in most contexts, but that's not necessarily the case when it comes to gold or silver,” she said. The term “recycled,” she added, gives jewelry made with such materials a “green halo,” or an aura of environmental friendliness.
But the term “doesn't give people a clear answer about where their metals come from,” Ms. Stevens said, which is one reason her organization and others have done so. asked the Federal Trade Commission to ban the use of “recycled” to describe jewelry products sold in the United States. The FTC is expected to respond this year with updates to its environmental marketing guidelines.
Those guidelines say currently that “it is deceptive to represent, directly or by implication, that an item contains recycled content unless it is composed of materials that have been recovered or otherwise diverted from the waste stream.” However, precious metals are generally not considered waste because they have been melted and reused for centuries and generally retain their value.
The term “recycled” can also obscure the origins of some metals, such as those sourced from so-called cowboy miners, or illegal refineries known for using child labor or running operations that financing the activities of criminal networks. Patrick Schein, a refiner and board member at the Alliance For Responsible Mining, said the word can give the illusion that the recycling process always produces “newborn gold that is ethically acceptable.”
The Alliance For Responsible Mining, an advocacy group, has promoted other ways to improve the jewelry industry's supply chains, including by getting companies to support programs run by groups like the Better Gold Association, which works with small-scale miners who refine metals more responsibly.
“Buying only recycled gold excludes this sector, which employs many people who already face vulnerable situations,” said a 2020 report. rack released by the alliance and other organizations.
Mr Lacik said Pandora's shift to sourcing only recycled metals was based more on environmental factors than on the impact it could have on small-scale miners, a group that produces almost two-fifths of the world's mercury population. according to a 2018 United Nations report.
“You have to decide: is the climate issue more or less important than certain communities,” he said. “In our case, we think that taking control of the climate problem and moving forward with long-term progress is a bigger issue for humanity.”
While using recycled metals could reduce Pandora's carbon footprint, mining virgin metals could reduce Pandora's carbon footprint gold And silver has not declined over the past decade, suggesting that growing corporate interest in such materials has done little to offset mining's overall climate footprint.
A team of 100 employees have been involved in the transition to recycled metals at Pandora, which switched from mined diamonds to lab-grown diamonds in 2021. The change in metal purchasing required adjustment of processes and equipment to the measures of the Responsible Jewelry Councila group in London recognized for setting global standards.
One of Pandora's suppliers of recycled metals is MKS PAMP, a Swiss refiner and trader. “We know every single source of our supply chain and can tell you, down to the gram, what goes to whom,” said Xavier Miserez, the refinery's head of sales. “There is no such thing as zero risk, but we try to limit it as much as possible.”
Pandora plans to pay about $10 million annually for recycled metals. That is more than what was paid for newly mined mines, Mr. Lacik said, “but those are costs we are willing to bear.”
“I'm also realistic about how important this is to jewelry buyers,” he added, noting that most are driven by two main factors: design and price. “Some may ask for sustainable production – but not many.”