New York – The Platinum Guild International has launched an information portal on “responsible” platinum as consumer awareness of sustainability continues to grow.
The goal of the portal is to educate the jewellery industry and consumers about how platinum is sourced and the guidelines for environmental standards, social impact and governance practices.
In a recent cross-market survey of 4,300 jewellery consumers, PGI found that 72 per cent of Americans agree that jewellery should be responsibly sourced. The United States ranked third behind consumers in India at 94 per cent and China at 87 per cent.
When considering a jewellery purchase, respondents said “responsibly sourced materials” was one of the top three most important sustainability factors. The response was in the top three in the US, China, India and Japan.
PGI CEO Huw Daniel said: “Awareness of ESG [environmental, social and governance] factors and responsible sourcing has grown globally across many industries, and the jewellery sector is no exception. Consumers are increasingly aware of this trend and, in some markets, are willing to pay a premium for jewellery that has a positive environmental and social impact”.
The leading platinum producers who help fund the organisation are working to prioritise the environment and society in their practices, including through responsible platinum production and support for local communities, Daniel said, and the platform will highlight their efforts.
The platform will also educate users on how platinum can benefit society and the environment outside the world of jewellery.
For example, platinum is essential in diesel catalysts, which reduce emissions, and is also vital to the hydrogen economy, a carbon-free energy supply system in which fuel cells would generate energy from hydrogen, leaving heat and water vapour as by-products.
