Pandora has confirmed plans to use exclusively recycled gold and silver in all jewellery products from the second half of this year onwards.
In 2020, Pandora set a target to use only recycled silver and gold by 2025; however, that milestone has been accomplished quicker than expected.
The company attributed the strategic shift to a desire to reduce greenhouse gas emissions and lessen the environmental impact of mining.
CEO Alexander Lacik said there would be no loss of product quality, as 97 per cent of Pandora’s products manufactured in the past year already feature recycled precious metals.
“Precious metals can be recycled forever without any loss of quality,” he said.
“Silver originally mined centuries ago is just as good as new, and improved recycling can significantly reduce the climate footprint of the jewellery industry.”
Industry representation
Pandora’s Lacik has been appointed to the board of directors for Watch & Jewellery Initiative 2030 (WJI).
The WJI was formed in 2021 with the stated aim of creating a “fully sustainable watch and jewellery industry that is resilient to climate change, preserves resources and fosters inclusiveness.”
The WJI is led by executive director Iris Van der Veken, who previously served as the executive director of the Responsible Jewellery Council (RJC).
“Alexander Lacik’s extensive experience and commitment to responsible business practices will contribute greatly to this objective,” Van der Veken said.
“His support will undoubtedly strengthen the industry-wide efforts to create positive change.”
Van der Veken left the RJC in 2021 due to internal turmoil over the membership of Russian diamond mining company Alrosa following the invasion of Ukraine. In March of 2022, Pandora announced the end of its 12-year membership with the RJC.
Pandora recently launched a new global marketing campaign and published a preliminary fourth-quarter financial report detailing a 12 per cent increase in sales.
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