October 03, 2023

Introducing LBMA's Three-Year Sustainability and Responsible Sourcing Strategy

"Responsible Sourcing has been front and centre in LBMA’s efforts to ensure integrity, robust governance and meaningful transparency in the global gold supply chain. LBMA’s focus is now expanding beyond Responsible Sourcing with the launch of the three-year sustainability strategy."

- Sakhila Mirza, Executive Board Director, LBMA

The Sustainability and Responsible Sourcing Strategy has followed extensive public consultation and sets out five areas of focus for LBMA. It targets climate issues and the UN Sustainable Development goals, and is in alignment with the Industry Sustainability Declaration, which was launched in Lisbon in 2022.

We invite you to learn more about the rationale behind the Strategy and the Strategy itself, and to become one of the coalition of the willing.

"LBMA must be ambitious in helping to drive a sustainable industry, but it cannot deliver that on its own. All actors from 'rock to ring', including government and other official bodies, must play their part."

- Paul Fisher, Chairman, LBMA

Some of the highlights from the five focus areas include:

Improvement of LBMA oversight of audits

LBMA, staying true to its commitment to continuous improvement, focuses on implementing better and higher standards. Find out more in Focus Area One.

Increasing the share of responsible ASM gold in the market

Despite between 15-20% of the world’s annual gold production being produced by ASM, less than 1% of that material comes through LBMA GDL Refiners. How can this be changed? Find out more in Focus Area Two.

Leading a coalition of the willing to support a sustainable precious metals market across the entire value chain

Going beyond the responsibility and requirements for GDL Refiners by addressing trust and integrity across the full value chain. Find out more in Focus Area Three.

LBMA's own sustainability

Any positive change starts with looking at what we can do as an organisation (and individuals within it). Find out more in Focus Area Four.

Looking at the wider sustainability agenda

UN Sustainable Development Goals, climate change, Green House Gas emissions, biodiversity and human rights issues are all being examined. Find out more in Focus Area Five.

LBMA recognises that this is an ambitious strategy, and we cannot do it without support from the industry. To get involved, please reach out to us at responsible.sourcing@lbma.org.uk.