Source: Dubai – Sherif Al Yamani
Pandora has announced that it will stop buying gold and silver from mining companies, and will convert to precious metals recycling.
The company will start its new policy, in 2025, which will help the Copenhagen-based company increase its attractiveness to passionate investors of assets that meet environmental and social needs and governance goals.
The company’s shares rose by 5% when trading began in the stock market in Denmark, which contributed to increasing its market value since the beginning of the year to 20%, while the Copenhagen index witnessed a decline of 0.1% during today’s trading, according to Bloomberg.
A Pandora spokesperson said that changing the company’s policy, will not have any impact on costs.
The company CEO, Alexander Lasik, indicated that the new policy will not affect the quality of the jewelry the company makes.
He added: “The minerals extracted centuries ago are in good shape just like the newly mined minerals … the need to pursue sustainable business policies is becoming more important.”
He explained that the company’s dependence on metal recycling will contribute to reducing carbon emissions by two thirds for silver, and by 99% for gold. He pointed out that one of the main benefits of the environment is to reduce the consumption of water used in mineral extraction.