Danish jewellery company Pandora is committing to cut its greenhouse gas (GHG) emissions by 50 percent across its own operations and entire value chain of suppliers and business partners by 2030.
In addition, Pandora adds that it will also commit to achieving net-zero emissions by 2040 by further reducing its climate footprint and removing or offsetting any remaining emissions.
Pandora said that its new climate target was the “most ambitious” in the jewellery industry to date. It is based on an extensive decarbonisation plan across its business and aligns with the Paris Agreement and what climate science says is necessary to limit global warming to 1.5⁰ C.
Alexander Lacik, chief executive at Pandora, said in a statement: “The climate crisis is the most urgent issue of our time, and companies must do what they can to find the necessary solutions. Our commitment will prepare Pandora for the low-carbon economy of the future and hopefully contribute to positive change in the jewellery industry.
“We have a clear line of sight to how we will achieve most of our emission reductions, but we also realise that we do not yet have all the answers. We will call on our suppliers and business partners to help us make this reality.”
Pandora commits to ambitious climate targets
To halve its emissions by 2030, Pandora said that it will implement several energy-saving measures in its operations and significantly expand its use of renewable energy. In 2020, Pandora switched to 100 percent renewable energy at its crafting facilities, and the company is also planning to purchase green power for its more than 1,300 stores and distribution centres. This will make Pandora carbon neutral by 2025.
Pandora also adds that it needs to reduce emissions across its value chain, as emissions from raw materials, packaging, transportation, franchise stores and other sources outside of Pandora’s own operations account for more than 80 percent of the company’s total GHG footprint.
The jewellery brand aims to reduce these emissions by 42 percent by 2030 and has already taken important steps towards the goal by choosing low-carbon materials such as recycled silver and gold and more sustainable packaging.
Pandora also states that carbon impact will be increasingly factored into key business decisions going forward, such as the selection and exclusion of suppliers and partners. To help suppliers make the necessary changes and obtain adequate data to track and report performance, Pandora will create a dedicated supplier engagement programme.
The target has been approved by the Science Based Targets initiative and builds on Pandora’s earlier announced ambition to become carbon neutral in its own operations by 2025.
Alberto Carrillo Pineda, managing director at Science Based Targets at CDP, one of the Science Based Targets initiative partners, added: “We congratulate Pandora on setting science-based targets consistent with limiting warming to 1.5°C, the most ambitious goal of the Paris Agreement. By setting ambitious science-based targets grounded in climate science, Pandora is taking action to prevent the most damaging effects of climate change.”
Pandora is the world’s largest jewellery brand, sold in more than 100 countries through 6,700 points of sale, including more than 2,600 concept stores. It crafts its jewellery at two LEED-certified facilities in Thailand using mainly recycled silver and gold.