The Responsible Jewellery Council (RJC) has updated its definition of what constitutes recycled precious metal and will recognize three separate categories.
The RJC’s chain of custody standard, which defines an approach for companies to handle and trade gold, silver and platinum in a fully traceable and responsibly sourced way, now includes three main types of eligible material, the RJC said Tuesday: pre-consumer, postconsumer and waste. It also recognizes a mix of all three.
The organization is using the same definition and categorization as the International Organization for Standardization (ISO), but has broadened it beyond gold to include all precious metals, it explained. The RJC is also requiring industry members to declare the type of material included.
In addition, the council has revised its code of practices, which provides a common standard for ethical, social, human-rights and environmental practices across the trade. It has expanded the new standard to cover human-rights due diligence, grievance mechanisms, supply-chain due diligence, claims and greenhouse-gas emissions. The RJC has also published significant updates on inclusivity, diversity, strengthening environmental requirements and a greater alignment with emerging standards for mining and mineral processing entities, it noted.
The group held three rounds of 60-day public consultations that were open for feedback from both the trade and nonindustry members. These included a 30-day public consultation focused solely on “recycled,” it said. During that time, it received more than 1,200 comments.
Image: Gold, silver and platinum diamond rings. (Shutterstock)
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