Connect with us

Headlines

Pandora Jewelry Commits to Using 100% Recycled Silver and Gold

‘We want to do our part to build a more circular economy,’ says the company’s CEO.

mm

Published

on

Pandora jewelry

Pandora announced that it will cease using newly mined silver and gold in its jewelry by 2025 and only buy from recycled sources.

“Silver and gold are beautiful jewellery materials that can be recycled forever without losing their quality,” said CEO Alexander Lacik. “Metals mined centuries ago are just as good as new. They will never tarnish or decay. We wish to help develop a more responsible way of crafting affordable luxury like our jewellery, and prevent that these fine metals end up in landfills. We want to do our part to build a more circular economy.”

Podium Presents: 5 Crucial Customer Experience Improvements to Make as You Reopen
Sponsored Webinars

Podium Presents: 5 Crucial Customer Experience Improvements to Make as You Reopen

Selling Against the Internet & Maximizing Sales
Sponsored Webinars

Selling Against the Internet & Maximizing Sales

Clientbook Presents: From Automation to Personalization, Clienteling for the New World
Sponsored Webinars

Clientbook Presents: From Automation to Personalization, Clienteling for the New World

Today, 71% of the silver and gold in Pandora’s jewelry comes from recycled sources, the company said in a press release. Shifting completely to recycled silver and gold will reduce carbon dioxide emissions, water usage and other environmental impacts because recycling of metals uses less resources than mining new metals. The carbon emissions from sourcing of recycled silver are one-third compared to mined silver, while recycling of gold emits a tiny fraction of the carbon that mining new gold does, according to life cycle assessments.

“The need for sustainable business practices is only becoming more important, and companies must do their part in response to the climate crisis and the depletion of natural resources,” Lacik said. “For many years, Pandora has used recycled metals in our designs. Now we are ready to take the next step and stop using mined silver and gold altogether. This is a significant commitment that will be better for the environment and make our jewellery more sustainable.”

Silver is the most used material in Pandora jewelry, accounting for over half of all purchased product materials measured by weight. Pandora also uses smaller volumes of gold, palladium, copper and human-made stones such as nano-crystals and cubic zirconia.

Advertisement

The decision to use only recycled silver and gold covers all use of these metals in Pandora’s jewelry, including grains, semi-finished items such as chains, and other parts from suppliers.

Today, about 15% of the world’s silver supply comes from recycled sources. More than half of the recycled silver comes from industry, where the metal is used in chemical production and electronics and for other purposes.

Pandora will work with its suppliers to guarantee sufficient supply of responsibly sourced recycled silver, certified according to leading supply chain initiative standards such as the Responsible Jewellery Council, according to the release. Pandora will also engage with key stakeholders in the supply chain to explore opportunities for increasing the availability of recycled silver and improve production standards.

The decision to use recycled precious metals follows Pandora’s decarbonization targets announced in January. In 2020, Pandora plans to source 100% renewable electricity at its two jewelry crafting facilities in Thailand, and by 2025 the company will be carbon neutral across the entirety of its operations. Pandora has also joined the Science Based Targets initiative – the leading corporate collaboration for action on climate change – and will publish a plan next year to reduce carbon emissions in its full value chain in line with the Paris Agreement.

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at [email protected].

Continue Reading
Advertisement

SPONSORED VIDEO

Wilkerson Testimonials

A Liquidation Sale during a Pandemic? Wilkerson Showed Them the Way

For 25 years, Stafford Jewelers of Cincinnati, Ohio, was THE place to go for special gifts, engagement diamonds, high-end Swiss watch brands — in other words, the crème de la crème of fine jewelry. But this summer, the Stafford family was ready to retire. So, they chose Wilkerson to help them close up shop. “One of the biggest concerns was having the sale in the middle of COVID,” says Director of Stores Michelle Randle. Wilkerson gave the Stafford team plenty of ideas as well as safety guidelines, which they closely followed. “All of the employees felt safe, the customers coming in the door felt safe and we did a lot of business,” says Randle. How much business? “The inventory flew,” she says. Translation: They sold millions and millions of dollars-worth of merchandise. Randle calls it, “an incredible experience.” Would she recommend Wilkerson to other retailers who are thinking of thinning their inventories or retiring? “Everyone got more than what they expected out of the sale. You have to hire Wilkerson. They’re amazing.”

Promoted Headlines

Advertisement

Advertisement

Advertisement

Subscribe


BULLETINS

INSTORE helps you become a better jeweler
with the biggest daily news headlines and useful tips.
(Mailed 5x per week.)

Latest Comments

Most Popular