Pandora at the Forefront in Responsible Sourcing
Pandora’s dedication to the responsible sourcing of jewellery materials has been recognised in the latest Environmental, Social, Governance rating (ESG) by Morgan Stanley Capital International (MSCI). Amongst the textiles, apparel and luxury goods category, Pandora has been rated in the top percentile of the industry.
In the context of global industry peers, Pandora is at the forefront in regards to responsible sourcing of jewellery materials, including those that are deemed controversial such as precious stones and metals, placing Pandora in line with Richemont (e.g. Cartier, Piaget), Kering (e.g. Gucci, Stella McCartney), Adidas and Nike.
Claus Teilmann, Vice President of Group Ethics explains Pandora’s commitment to responsible sourcing:
“From a jewellery industry perspective, we are fully aware that the mining and processing of precious metals and gemstones can be associated with adverse social and environmental impacts. As a major player within this industry, Pandora acknowledges our ability and responsibility to ensure a more transparent supply chain.”
To this end the company has developed a Responsible Supplier Programme, through which they screen, audit, and develop their supply chain. The programme not only aims to live up to Pandora’s company values, but to develop the suppliers to be better performing, raising their ethical standards and thereby their competitiveness.
Furthermore, Pandora extends the company's responsibility through their dedication to the Responsible Jewellery Council (RJC) certification scheme:
“By being actively engaged in the RJC, we gain both valuable insights and traction to push the entire jewellery industry towards even higher ethical standards. Currently the RJC is looking into expanding its scope from gold and diamonds to also include silver and coloured stones. Something Pandora fully supports,” said Claus Teilmann.
In 2016, Pandora reported that all gold and silver grains plus diamonds entering their crafting facilities are from RJC certified sources. With the addition of 85% of their total sourcing value coming from suppliers who have been audited either by an external agency or are members of RJC.
Furthermore, more than 90% of the silver grains – and more than 80% of the gold grains – used at Pandora’s crafting facilities come from recycled sources. Using recycled silver and gold significantly reduces the risk of becoming complicit in human rights infringements, at the same time significantly reducing the environmental cost of the raw material.