Responsible Sourcing
Our mandatory independent assurance programme verifies the legitimacy of gold and silver supply chains, ensuring sourcing meets international ethical standards.
Responsible Sourcing
The Responsible Sourcing Programme ensures the continuous improvement of Responsible Sourcing business practices and reassure clients that all of the metal sourced from LBMA Good Delivery Refiners is free from threat financing.
The Programme follows the five-step due diligence framework set out in the OECD Guidance and requires GDL refiners to demonstrate their efforts to combat money laundering, terrorist financing and human rights abuses, and respect the environment globally.
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Sakhila Mirza
It is essential that all precious metals traded in the wholesale market are sourced responsibly.
Neil Harby
It ensures that gold sourced from conflict affected and high-risk areas, is responsibly sourced. But it also ensures that it’s not contributing to terrorist financing, money laundering activities and human rights abuses.
SM
All Good Delivery List Refiners, gold and silver, selling metal into the London Market must comply with the LBMA Responsible Sourcing Programme. That basically means, that every 12-months they must undergo an independent third-party audit.
NH
It is a code of practice and a series of tools that enables participants in the supply chain to develop Responsible Sourcing practices.
Failure to adhere to the LBMA’s Responsible Sourcing Programme will result in the removal of the refiner from the Good Delivery Lists.
SM
We have a robust Incident Management Process, that allows us to address issues within the Market. We strongly encourage market participants to escalate issues to the LBMA. Communication and engagement are very important to the success of this programme.
We’re developing and encouraging best practices and constantly improving Responsible Sourcing standards that apply to both refiners and auditors.
Ultimately, the Responsible Sourcing Programme helps to create trust and confidence within this global market.
Sustainability and Responsible Sourcing Reports
LBMA’s annual Sustainability and Responsible Sourcing Report, first released in 2020, covers Programme development, refiners’ and assurance provider's performance, case studies, and aggregate gold and silver Country of Origin information for all refiners.
This document outlines LBMA's three-year strategy that will continue to improve our core sustainability activities. Read the Strategy.
The Report aims to increase the transparency of the LBMA Responsible Sourcing Programme. Read the report.
Formerly the Responsible Sourcing Report, the title has been expanded to reflect the importance of sustainability considerations when focusing on responsible sourcing. Read the report.
可持续发展和 负责任采购报告 2022
The aim of the Report is to increase the transparency of the LBMA Responsible Sourcing Programme. Read the report.
Our first report covers Programme development as well as refiners’ and auditors’ annual performance. Also includes Case Studies and aggregate gold and silver Country of Origin information for all refiners. Read the report.
负责任采购 报告 2020
Areas of focus
Value chain accountability – building leverage
Build the awareness, trust and mutual confidence of stakeholders in the precious metals value chain to increase accountability and enhance collaboration
Advancing standards – defining best practice
Advance Responsible Sourcing standards and business practices to strengthen refiners’ risk assessment practices and provide more focus on progressive risk mitigation
Audit Programme – enhancing credibility
Strengthen the robustness of Step 4 of the Responsible Sourcing Programme to improve confidence in the assurance process
Transparency – improving disclosure and reporting
Enhance disclosure against Step 5 of the Responsible Sourcing Programme to improve the transparency of the precious metals supply chain
Artisanal Small-Scale Mining (ASM) – engaging responsibly
Encourage and facilitate responsible engagement by refiners in the precious metal supply chains of Artisanal and Small-Scale Mining