Sasha Lezhnev provides context to the issue of conflict and high-risk gold and agrees with Dr Pieth that de-risking is not an option. He highlights the many ways in which conflict gold can be easily smuggled and stresses that more needs to be done by the industry to focus on the red flags in responsible sourcing when conducting due diligence reports, and provides five recommendations as to how this can be done.
Sasha stresses the fact that, in order for responsible sourcing to actually work, there needs to be a market for responsibly sourced gold.
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Refineries as the 'Gate Keepers'
Dr Mark Pieth (The University of Basel) addresses the current tendency of de-risking among refineries - a problematic move towards informal boycotting of ASM or certain world regions.
U.S. Perspectives on Responsible Sourcing for Gold in the Time of COVID-19
Pamela Fierst-Walsh (U.S. State Department) provides a U.S. perspective on responsible sourcing for gold in a world of COVID-19. The Dodd-Frank regime, international sanctions and the impact of COVID-19 on the ASM sector will also be addressed.
International Bullion Centres Recommendations
In this webinar, we discussed the International Bullion Centres recommendations in greater depth and, most importantly, how the industry can provide support to ensure the integrity and transparency of the global market.
LBMA Annual Responsible Sourcing Report
LBMA's Responsible Sourcing team outline its strategy for the future of Responsible Sourcing, recommendations for Bullion Centres and Country of Origin data. Dr Mark Pieth, Professor of Criminal Law and Criminology at The University of Basel also contributed to this webinar.