July 20, 2023

LBMA Launches Public Consultation for Responsible Silver Guidance Version 2

LBMA is pleased to share a draft of Version 2 of the Responsible Silver Guidance (RSG), the document that underpins LBMA's Responsible Sourcing Programme. You can find out more by reviewing a summary of key changes.

Through the Responsible Sourcing Programme, LBMA has developed credible sourcing standards and assurance processes for Good Delivery Refiners from 2012. Since then, LBMA has expanded its scope on several occasions as demonstrated by the various iterations of the document that underpins the Programme.

In keeping with LBMA’s commitment to continuous improvement, the proposed changes to RSG v.2 include provisions on ESG risk assessments, clarity of due diligence expectations regarding the responsible sourcing of silver and provision of support for responsible ASM measures. This will align the Silver Guidance with Responsible Gold Guidance Version 9 (RGG v.9) 2022, whilst also addressing the differences between the two markets.

We welcome your feedback on this document. Please share your comments to responsible.sourcing@lbma.org.uk in bullet point form, identifying the relevant page and section to which your comments pertain or you may complete this online survey.

Feedback is critical to ensuring the continuous improvement of LBMA’s Responsible Sourcing Programme, so please send any feedback you have by Tuesday, 5 September 2023.

Read the Responsible Silver Guidance Version 2