New three-year Sustainability & Responsible Sourcing Strategy draft
Feedback Deadline: Friday 30 June
LBMA is pleased to launch the first public consultation on the new three-year Sustainability and Responsible Sourcing Strategy draft and invite you to feedback via an online survey. The survey should take around five minutes to complete.
You can view an overview and the full document here.
Sustainability is a key challenge for the future success of the precious metals industry. LBMA is to take a leading and proactive role in coordinating the industry to identify and implement best practice and with the objective of establishing precious metals as part of the solution, not part of the problem.
The strategy reflects LBMA’s commitment to advancing responsible and sustainable sourcing practices in the precious metals sector whilst broadening the scope to address new and emerging sustainability issues in the market with a focus on climate, biodiversity and other UN Sustainable Development goals.
Through the Responsible Sourcing Programme (RSP), LBMA has developed credible sourcing standards and assurance processes for Good Delivery Refiners since 2012. Since then, LBMA has expanded its scope on several occasions as demonstrated by the various iterations of the document that underpins the programme, the Responsible Gold Guidance. In 2019, LBMA made a significant strategic expansion to include Environmental, Social and Governance (ESG) issues. In 2022, following extensive consultation, LBMA published the Responsible Gold Guidance Version 9 and updated all of the connected guidance documents to provide support to GDL Refiners in the implementation of the programme and for enhanced Assurance Provider reporting.
This three-year Sustainability and Responsible Sourcing Strategy acknowledges more than ever before the need for a coalition of the willing to realise solutions – hence the launch of this public consultation.
We welcome your feedback and suggestions and thank you for taking part. If you have any questions about the survey or consultation, please contact responsible.sourcing@lbma.org.uk.