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Get Ready for the Next Round
September 5, 2008
If there’s anyone left in this industry who still thinks that all this talk about sustainability and environmental and social responsibility is a bunch of hooey that will run its course, you might want to log onto this article, from Fortune. Also check out this post from JCK’s own Rob Bates, in which he discusses the “Red Gold” documentary about the proposed Pebble Mine site in Alaska.
These issues are here to stay. While the Bingham Canyon mine, discussed in the Fortune article, and the proposed Pebble Mine both contain far more copper than gold, gold is sexier than copper and therefore is what’s going to make news.
At the same time, research pundits such as Unity Marketing's Pamela Danziger predict that after the current recession is over, American luxury consumers still won’t go back to the wild spending sprees we saw in the past decade, acquiring stuff just for acquisition’s sake. They’re asking serious questions about the impact of consumerism on the future of the planet. Given that the jewelry industry depends on extracting mineral wealth from deep inside said planet, only a fool would ignore the impact this psychological shift can have on our industry.
There’s also another point to consider here: Where Wal-Mart goes, America follows. While Tiffany is to be commended for taking an early and vocal leadership role in these issues (Rob’s Red Gold blog post lists the other jewelers who’ve also committed to not sourcing gold from Pebble Mine, should it come to pass), when Wal-Mart embraces a cause, it’s practically guaranteed to become part of the mainstream consciousness. So if you think your customers aren’t concerned about it, wait a year. They will be.
What can jewelers do now? All jewelers, both large and small, can start by questioning suppliers about their gold (or silver, or platinum, etc.), and make it clear they’re going to insist on sourcing only from suppliers who source from responsible mining companies. Manufacturers and designers will then have to ask their suppliers, and so forth up the supply chain. While it’s true that once gold is melted, there’s no way to tell the origins of the finished product, a chain of warrants along the lines of the Kimberley Process will go a long way toward ensuring it comes from a mining company that does its utmost to minimize environmental impact.
There’s no way to completely avoid affecting the environment to some degree—regardless of whether the extracted mineral is burned for fuel or worn for adornment, getting it out of the earth is going to make a big mess. But at least if a mining company is willing to invest in doing as little damage as possible and restoring the earth as much as possible to its original state, it deserves our business. It may cost a bit more, but the earth is worth it.
Posted by Hedda Schupak on September 5, 2008 | Comments (4)