Responsible Silver Guidance Market Wide Consultation
Wednesday, March 15, 2017
Last year the LBMA, in coordination with the Silver Institute, launched an initial consultation on the implementation of a Responsible Silver Guidance (“RSG”). This forms part of the LBMA’s Responsible Sourcing Programme.
We are now extending the consultation to the wider market and would welcome your feedback.
As with the Responsible Gold Guidance (RGG), the RSG would be based on the responsible supply chain principles of the OECD Due Diligence Guidance as well as know your customer, anti-money laundering and counter-terrorist financing regulations. This builds on the existing work and experience gained from the development of the LBMA’s RGG.
The initial consultation was well received with support from governments, industry organisations and downstream companies. Refiners have also welcomed recognition for the work they are already doing in their commitment to responsible sourcing.
For further background information regarding the initial consultation, please refer to the webinar here which was held last September.