World’s Biggest Jewelry Firm Moves to Recycled Gold, Silver – by Christian Wienberg and Elena Mazneva (Bloomberg News – June 2, 2020)

(Bloomberg) — Pandora A/S, which makes more pieces of jewelry than any other company in the world, will stop relying on newly mined gold and silver and instead use only recycled precious metals.

The new policy, which takes effect in 2025, will help the Copenhagen-based company beef up its climate credentials and make it a more appealing target for investors eager to fill their portfolios with assets that meet environmental, social and governance goals.

Shares in Pandora jumped about 5% when trading started in the Danish capital, bringing gains in its market value this year to about 20%. The main Copenhagen benchmark index fell about 0.1% on Tuesday. A spokesman for Pandora said the change in policy won’t have any material impact on costs.

Chief Executive Officer Alexander Lacik said the new approach won’t drag down the quality of the jewelry produced.

“Metals mined centuries ago are just as good as new,” he said in a statement on Tuesday. Meanwhile, “the need for sustainable business practices is only becoming more important,” he said.

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