When we opened the LBMA and World Gold Council Sustainability & Responsible Sourcing Summit in London in June 2026, the scale and energy in the room showed that responsible sourcing is no longer a specialist conversation at the edge of the market; it is a central agenda for the precious metals sector.
A record number of attendees came together from across the gold value chain, including miners, refiners, financial institutions, civil society, government, assurance providers and technology providers. Against a backdrop of geopolitical uncertainty, volatile gold prices, new market entrants and emerging bullion centres, the Summit was not simply a conversation about responsible sourcing. It was a conversation about how we protect trust, resilience and market integrity in a changing world.
The Summit was also a personal milestone: my first as LBMA’s Director of Sustainability and Responsible Sourcing, and a moment to reflect on how far the market has come since I first came across LBMA’s Responsible Sourcing Programme at its inception, a decade and a half ago.
The Summit’s theme, From Dialogue to Action, captured the moment well. Over two days of keynotes, plenary presentations and panel debates, the discussions pointed to three areas that now need sustained focus: collaboration in a more uncertain environment; convergence and harmonisation; and trust through meaningful transparency. However, one message emerged more clearly: advancing standards remains essential, but the next phase of responsible sourcing will be defined by effective implementation and by whether we can translate growing expectations into outcomes that are credible, practical and resilient.
Collaboration, government engagement and resilient markets
The first emerging theme was that collaboration is more important than ever. The challenges associated with illicit gold flows, money laundering, sanctions evasion and criminal exploitation cannot be solved by any single organisation acting alone. This was powerfully reinforced by the focus on illicit gold at the Summit.
The opening keynote from The Rt Hon David Lammy MP, the UK’s former Deputy Prime Minister, gave the Summit a clear sense of public policy significance in this regard. His presence demonstrated that responsible sourcing and illicit gold flows are not only industry issues. They are linked to economic crime prevention, national security and international cooperation. For the gold sector and financial services, this matters because illicit gold can undermine confidence in legitimate markets and expose institutions to significant financial crime risk.
That message carried through into the closed-door International Bullion Centres meeting. The meeting created space for candid discussions about regulation, enforcement and critical and emerging risks that can arise when different markets move at different speeds. As new entrants and emerging bullion centres become more prominent, the resilience of the global market will depend on whether key trading hubs can work together on shared expectations, risk intelligence and practical cooperation.
This same spirit of collaboration was visible throughout the Summit. Participants repeatedly highlighted the importance of partnership between industry, governments, civil society, law enforcement, and assurance and technology providers. Information sharing, public-private partnerships and collective action were presented not as enhancements, but as necessities. Collaboration is therefore not a supporting theme. It is the infrastructure needed to manage uncertainty and protect the LBMA ecosystem.
Convergence, harmonisation and implementation
A second theme was that fragmentation is no longer sustainable. Miners, refiners, downstream users and others are navigating overlapping standards, regulatory expectations, ESG reporting requirements and assurance demands.
Harmonisation, however, does not mean lowering ambition. It means moving towards stronger and more consistent outcomes while recognising the practical realities of implementation across the value chain. Alignment matters because it reduces duplication, supports clearer expectations and strengthens confidence in responsible sourcing systems. The challenge facing our industry today is not creating more standards; it is ensuring that existing standards are implemented consistently and effectively.
The Summit also reinforced that the industry is moving from compliance-based programmes towards intelligence-led risk management. Significant progress has been made in developing standards and frameworks, but speakers repeatedly emphasised that due diligence should not be treated as a checklist exercise. Documentation and audits remain important, but they must support deeper inquiry, robust risk judgement and assurance that responds to evolving risks and changing market realities.
As our markets become increasingly complex, digital tools are also expected to play an essential role in ensuring responsible sourcing programmes remain effective and scalable. Tools such as geochemical origin verification, traceability platforms and machine learning can improve visibility and support earlier risk identification. But technology should be seen as an enabler rather than as a solution in itself. Its value depends on the standards, judgement, assurance and collaboration around them.
The Gold Bar Integrity (GBI) programme was repeatedly referenced as an example of how technology and data can support stronger governance, creating opportunities for earlier risk identification, trend analysis and more proactive oversight.
Trust, transparency and responsible inclusion
Finally, trust. It remains the foundation of the gold market. It sits behind the London Good Delivery system, the confidence of financial institutions, the expectations of downstream users and the credibility of responsible sourcing programmes.
In today’s environment, trust must be demonstrated through transparency. Discussions throughout the Summit highlighted the growing role of traceability and disclosure in strengthening market confidence. However, the discussion was notably more sophisticated than a simple call for more disclosures. Instead, participants recognised the need for transparency that is meaningful. Equally, there was recognition that transparency must be balanced against legitimate concerns relating to commercial confidentiality, security and market sensitivity. The future of responsible sourcing will depend not only on what organisations report, but on their ability to provide meaningful, reliable and actionable data and insight that helps stakeholders understand risk and make better decisions.
Discussions on Artisanal and Small-scale Gold Mining (ASGM) showed that, at the very moment the industry is seeking stronger controls and more transparency, legitimate producers should not be excluded from formal markets. Inclusion must remain part of the integrity agenda. Responsible ASGM sourcing can support market integrity while also contributing to livelihoods, community development and more resilient supply chains, reinforcing one of the industry's greatest opportunities. LBMA’s recent report, Supporting Responsible Pathways for ASM, explores this work in more detail, including the role of the ASM Task Force, the ASM Toolkit and practical due diligence tools better suited to the realities of ASM sourcing.
Looking ahead
The risks facing the gold market are significant, but I left the Summit with a strong sense of confidence that the tools, partnerships and commitment are available to respond.
Sustainability and responsible sourcing cannot stand still. As expectations grow, risks evolve and technology advances, our industry must move beyond compliance alone and embrace a model built on transparency, intelligence, collaboration and innovation. The strength of the system depends on how well these perspectives are connected and turned into practical action.
The public consultation on Responsible Gold Guidance version 10 (RGG10) is an opportunity to shape the next phase of LBMA’s core sourcing standard. The invitation is open: take part in the RGG10 consultation, read the ASM Report and join the coalition of the willing. Together, we can move beyond dialogue and help shape a responsible precious metals market that is trusted, resilient and ready for the world ahead.
