Forget how many carats - how ethical is your gold? As high-end consumers demand to know the origin of their treasures, some jewellers are ensuring they use responsibly sourced, eco-friendly or recycled gold. Specialised producers now tack a "fairmined" ecologically friendly label on their output, and the Swiss house Chopard last year became the first big name to commit to "100 percent ethical" creations.
The Geneva-based firm, which makes the Palme d'Or trophy for the Cannes Film Festival, says it now uses only verified suppliers of gold that meet strict standards to minimise negative environmental impacts of mining the precious metal. Among the many certificates and standards claiming to codify "responsible" goldmining, two labels stand out.
They are "fairmined" gold - a label certified by a Colombian NGO - and the more widely known "fairtrade" label launched by Swiss foundation Max Havelaar. Both support artisanal mines that seek to preserve the environment in terms of extraction methods, along with decent working conditions and wages for the miners.
Such production remains limited - just a few hundred kilograms annually. Global gold output by comparison totals around 3,300 tonnes. Concerned jewellers are keen to ensure they can trace the source of their entire supply to an ethical production cycle and to firms certified by the not-for-profit Responsible Jewellery Council, which has developed norms for the entire supply chain.
RJC members must adhere to tough standards governing ethical, human rights, social and environmental practices across the precious metals industry. The French luxury group Kering, which says it has bought more than 3.5 tonnes of "responsibly produced" gold since 2015 for its Boucheron, Pomellato, Dodo and Gucci brands, has committed to 100 percent use of "ethical" gold by 2020.
"We are trying to maximise the proportion of Fairmined and Fairtrade gold - but their modest production is in great demand so the bulk of our sourcing remains recycled gold, (which is) certified 'RJC Chain of Custody'," says Claire Piroddi, sustainability manager for Kering's jewellery and watches.
Fairmined or Fairtrade gold is "about 10 to 12 percent more expensive. But recycled gold barely generates any additional cost premium," Piroddi told AFP, since it was already refined for a previous life in the form of jewellery or part of a high-tech product. Going a step further, using only precious metal from electronic or industrial waste is an original idea developed by Courbet, a brand launched just last spring.