Pandora says it will no longer use virgin gold or silver in its jewellery products, committing to using only 100 per cent recycled gold and silver from now on.
The Scandinavian manufacturer will source gold and silver from industrial waste, manufacturing scraps, old jewellery or silverware, and other materials in an initiative it hopes will save 58,000 tons of carbon dioxide per year.
However, the company estimates that it will incur about US$10 million in annual additional costs by using 100 per cent recycled silver and gold.
“Silver and gold are our most important raw materials, and by moving to 100 per cent recycled, we reduce our climate impact significantly without compromising on quality or craftsmanship,” said Alexander Lacik, Pandora president and CEO.
“This achievement is unparalleled in the industry and a major step towards a more circular business model.”
Meanwhile, Pandora has also stopped using mined gemstones and has committed to only using lab-grown diamonds and other man-made stones.
The retailer’s lab-grown diamonds have been grown, cut and polished using 100 per cent renewable energy, resulting in a carbon footprint of just about 5 per cent of those of a mined diamond.
