RAPAPORT… Pandora has committed to being carbon-neutral in its own operations by 2025 as part of a plan to reduce the environmental impact of the company and its suppliers.
From this year, the jeweler will use 100% renewable energy at its two manufacturing facilities in Thailand, which currently account for 52% of its emissions, it said Thursday. Over time, it will source more of its own solar power and buy green energy for its stores, while purchasing carbon offsets to deal with the remaining 5% of unavoidable emissions, it explained.
The retailer has also signed up for Science Based Targets, a program that helps companies set goals to reduce their environmental footprint. Through this, Pandora will set a target to reduce the emissions in its supply chain, which account for 90% of the company’s grand total. Sourcing raw materials has the biggest environmental cost, followed by the manufacturing of jewelry parts, packaging, the operation of franchise stores, and transportation, Pandora noted.
“Addressing climate change is one of the greatest challenges facing the world today, and as a large global company we have an obligation to contribute to the necessary solutions,” said Pandora CEO Alexander Lacik. “Responsible business practices such as recycling of materials and waste have always been part of Pandora’s way of operating, and we now commit to ambitious targets to reduce our carbon emissions and help drive sustainability in the jewelry industry.”
Image: The new concept Pandora store. (Pandora)
Pandora Vows to Be Carbon-Neutral by 2025
The Bottom Line
- Pandora will use 100% renewable energy at its Thailand manufacturing facilities starting this year, addressing 52% of its emissions.
- The company plans to source solar power, buy green energy for stores, and purchase carbon offsets for the remaining 5% of unavoidable emissions.
- Pandora has joined Science Based Targets to reduce supply chain emissions, which constitute 90% of its total environmental impact.
More Stories
Namibia Authorities Investigate Allegations About Corruption in Diamond Sector
Brilliant Star denies activist’s allegations about it; De Beers terminates company’s sight following separate review.
Shai Schnitzer Becomes Third Generation of Family to Head IDE
His grandfather, Moshe Schnitzer, and father, Shmuel Shnitzer, both served as president.
Romanov Sapphire Sails Past Estimate to Score $5M at Sotheby’s
Auction house originally predicted Cartier bracelet would bring in up to $2 million.
