Jewellery retailer Pandora is now crafting all its products with 100% recycled silver and gold as part of its efforts to reduce its impact on the environment.
By using recycled silver and gold instead of newly mined metals, Pandora estimates it saves 58,000 tons of CO2 per year. However, the retailer also said the annual additional cost of using 100% recycled silver and gold in its operations is approximately $10 million, highlighting the significant commitment the business has made to developing more circular operations.
Today’s announcement that it has completed its shift to recycling comes ten months on from stopping sourcing newly mined silver and gold, which we reported on Green Retail World at the time.
Since December 2023 Pandora has worked to deplete its non-recycled inventory – a strategy that is now complete which means it can say all its jewellery is crafted with 100% recycled silver and gold. Pandora said the first of these products will appear in stores by early 2025.
Pandora also said the two precious metals can be “recycled forever without any loss of quality”.
Alexander Lacik, president & CEO at Pandora, commented: “Silver and gold are our most important raw materials, and by moving to 100% recycled we reduce our climate impact significantly without compromising on quality or craftsmanship.
“This achievement is unparallelled in the industry and a major step towards a more circular business model.”
Pandora sells more than 100 million pieces of jewellery annually, and it said the shift to recycled materials avoids significant greenhouse gas emissions because mining requires more energy and resources than recycling.
To mark the shift, Pandora’s store on Lexington Avenue in New York has been refurbished for the city’s Climate Week, which runs until 29 September. The store is displaying different types of silver jewellery including charms, bracelets, rings, earrings and necklaces – all crafted from 100% recycled silver.
Consumers will also have a chance to buy Pandora’s lab-grown diamonds collection. This collection has been made from 100% recycled silver and gold since 2022.
There is some nuance around what qualifies as recycled metal in jewellery, but Pandora said it has collaborated closely with all its silver and gold suppliers and has conducted audits at more than 40 sites in accordance with the Responsible Jewellery Council’s Chain of Custody standard. The debate over the true sustainable and ethical value of recycled silver and gold will continue to rumble on.
[image credit: Green Retail World]
