On 6 May 2014, Kering, France, published the mid-term 2014 Progress Report on its 2016 sustainability targets, highlighting by that time all of its gold and diamond products would be sourced from verified operations that do not have a harmful impact on local communities, wildlife or ecosystems.
Kering delivered a strategy with three key elements on the sustainable sourcing of gold. First, to ensure the mining operations in the group’s supply chains are verified and certified via Fairmined, Fair Trade and/or RJC certification; second is to support certified recycled gold and last, to support small-scale mining. The report stated the ultimate goal would be to improve the industry in terms of traceability and sustainability, and ensure that ethical and transparent supply chains for gold can be scalable.
For example, this year Gucci has made a purchase order of an initial 30kg of certified Fairmined gold from the Sotrami mine in Southern Peru. This represents the single largest purchase of Fairmined gold made to date in its luxury sector. During 2014, Kering’s brands commit to double this purchase at minimum and will scale up the purchase amount from certified mines over the next two years in collaboration with Solidaridad and the Alliance for Responsible Mining (ARM).
For diamond, the group emphasizes on the supply chain and in particular, on traceability to the source. The report mentioned that its brands adhere to international standards for sourcing of diamonds and certification by the Kimberley Process. During 2014, there will be a project reviewing Kering’s current diamond supply chains and identify opportunities to enhances sustainability.
Kering concluded that the luxury sector shall go beyond compliance and regulations already in place and take leadership roles to contribute to the improvement at all levels which benefit to local communities, biodiversity and ecosystems.
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