As per ESG Today, Pandora set this goal back in 2020 with a deadline for 2025, meaning that the company managed to achieve it one year sooner. Last year, the Danish company was able to source 97% of its required gold and silver from recycled sources.

Pandora's value chain makes up over 80% of the company's carbon footprint and thus, its officials decided to reduce Scope 3-related emissions by 42% by the next decade. These include packaging and transport-related emissions.

Using recycled gold, instead of mining new ore reduces the final product's carbon footprint by a staggering 99%, while for silver, the improvement is still a generous 66%. To be able to achieve this sustainability objective, all of Pandora's suppliers had to source their materials from certified recyclers, meaning that many of them introduced new services and equipment to comply.

Pandora CEO Alexander Lacik said that "precious metals can be recycled forever without any loss of quality. Silver originally mined centuries ago is just as good as new, and improved recycling can significantly reduce the climate footprint of the jewelry industry."

Officials at the Danish jewelry manufacturer expect to be able to start manufacturing pieces with 100% recycled content from the second half of 2024, as to allow for the depletion of current inventory.