DANISH company Pandora, the world’s leading jeweller in terms of products sold announced that it would abandon the use of mined silver and gold as they steer towards the use of recycled metals.
Pandora would be allocating approximately $10-M annually to facilitate the transition and the company intends to absorb the costs without passing it on to consumers by increasing the price of its products.
According to the Senior Vice President of Communications and Sustainability at Pandora, Mads Twomey-Madsen, the move would allow the company to cut indirect CO2 emissions by around 58,000 tons annually.
The decision is part of Pandora’s initiative to mitigate the ecological impact of its operations.
On the issue of stolen hold being used as scrap for recycling, Pandora will require suppliers to comply to the chain of custody standard developed by the Responsible Jewellery Council (RJC).
