PANDORA releases 2016 Ethics Report
Recycling and new crafting facilities improve PANDORA’s green profile
- New environmental study shows that the impact on the environment can be reduced significantly when using recycled silver and gold as well as man-made stones.
- In order to further minimize the Company´s impact on the environment and meet consumers’ expectations for ethical jewellery, PANDORA focuses more on green production facilities
- The recently released PANDORA Ethics Report 2016 reveals a strong commitment to high ethical standards throughout the company´s value chain. Find the report here.
A new and independent environmental study carried out for the jewellery company PANDORA shows that the impact on nature can be reduced to less than 5 percent when using recycled gold and silver rather than the mined alternative. For cubic zirconia or man-made stones the environmental benefits are even bigger when comparing to mined diamonds.
The results are encouraging for PANDORA, who has been favouring man-made stones and recycled precious metals for years.
“This is the first time that comprehensive research has put a price tag on the difference between mined and recycled gold and silver as well as mined stones versus man-made stones. These findings encourage us to increase our focus on how we can further improve our green profile,” says Vice President, Group Ethics, Claus Teilmann Petersen, PANDORA.
Environmental impact significantly reduced
The study performed by sustainability consultancy Trucost sought to quantify and value the effects of using different materials. The study calculates the financial cost of environmental damage (such as health cost associated with pollution) to society from various materials and crafting methods. The study revealed that using recycled precious metals and man-made stones significantly reduces the environmental cost compared to mined materials due to less environmental damage.
“All human activities affects the world around us. PANDORA produce around 122 million pieces of jewellery every year. By focusing on recycled precious metals and cubic zirconia, our impact on the planet is only a fraction of what it could be,” says Claus Teilmann Petersen.
More than 90% of the silver– and more than 80% of the gold – used at PANDORA’s crafting facilities come from recycling and the majority of the 2.7 billion stones set by PANDORA last year were cubic zirconia or other man-made stones. The low share of silver and gold grains that are not from recycled sources originate from responsible refineries – all of which are subject to strict third party inspections.
For PANDORA, ethics and responsible business practices come with the territory of being a global brand:
“Our consumers rarely ask directly for man-made stones, recycled silver or environmentally friendly crafting facilities – but they do expect that our jewellery lives up to the highest ethical standards and we are constantly seeking to up our efforts and communication about corporate responsibility,” says Claus Teilmann Petersen.
PANDORA invests in green facilities
In a few weeks, PANDORA will officially open its new crafting facility in Lamphun, Northern Thailand. It will be one of the most modern and environmentally up-to-date jewellery crafting facilities in the world.
“Our new facility has earned the LEED (Leadership in Energy and Environmental Design) certificate. This has been achieved by a strong focus on the environment for example by choosing low impact, often recycled, building materials and by recycling a large part of the construction waste. When in operation water and energy consumption is reduced to a minimum, among other things through a highly efficient water recycling system,” says Claus Teilmann Petersen.
Furthermore, PANDORA’s new Global Office in Copenhagen, which is powered by windmills and onsite solar panel, is LEED certified as well. Finally, another LEED certified crafting facility is due for completion in 2018 in our site at Gemopolis, Bangkok.
“PANDORA is developing the company with the environment in mind, underlining our commitment to nurturing and safeguarding the environment, both within the company and in the world around us. The improvements we have made in 2016 strengthen us in our efforts to become the world´s most loved jewellery brand”, says President and CEO Anders Colding Friis.
PANDORA designs, manufactures and markets hand-finished and contemporary jewellery made from high-quality materials at affordable prices. PANDORA jewellery is sold in more than 100 countries on six continents through around 8,100 points of sale, including more than 2,100 concept stores.
Founded in 1982 and headquartered in Copenhagen, Denmark, PANDORA employs more than 21,500 people worldwide of whom around 12,400 are located in Thailand, where the Company manufactures its jewellery. PANDORA is publicly listed on the NASDAQ Copenhagen stock exchange in Denmark. In 2016, PANDORA’s total revenue was DKK 20.3 billion (approximately EUR 2.7 billion).