As end-consumers increasingly turn to carbon labelled products, MKS PAMP has developed a portfolio of Carbon Neutral and Carbon Measured precious metals products, verified according to the standards and criteria established by the Carbon Trust. This is a substantial step in MKS PAMP’s journey to lower its Greenhouse Gas emissions (GHG). Over the years, there has been a changing landscape of consumer buying, as 62% reported feeling more positive about a brand/company carrying a recognised label (Carbon Trust, 2023).

What are Carbon Neutral & Measured products?

1 What are Carbon Neutral & Measured products?


Carbon Neutral demonstrates an organisation's commitment to the decarbonisation of its product portfolio through measuring its products' footprint, adopting a carbon management plan and compensating the remaining impact through the support of environmental projects.

The Carbon Trust's Carbon Neutral label indicates that MKS PAMP has adopted a carbon management plan to reduce its yearly carbon emissions for the Carbon Neutral products verified by the Carbon Trust. This will be achieved through significant engagement with suppliers on our carbon management plans to encourage a reduction in their GHG emissions impact.

For a product to achieve the Carbon Measured certification, the emissions related to the product must be calculated and verified. All our Carbon Neutral products are also verified Carbon Measured.

Through its alignment with the International PAS 2060 Carbon Neutrality Standard and ongoing emissions' measurements, this new portfolio of products represents a tangible step in MKS PAMP’s carbon reduction journey.

Carbon verified products

2 Carbon verified products


Our Carbon Neutral portfolio includes:

  • 1kg Gold Cast Bar
  • 12.5kg Large Gold Cast Bar
  • 1oz Lady Fortuna Gold Minted Bar

Our Carbon Measured portfolio includes:

  • 1kg Gold Cast Bar
  • 12.5kg Large Gold Cast Bar
  • 1oz Lady Fortuna Gold Minted Bar
  • Gold Grain
  • Silver Grain
Calculation of the product footprint

3 Calculation of the product footprint


Methodology

The Carbon Trust Advisory Team designed the methodology to calculate the carbon footprint of MKS PAMP's products. The carbon footprint is calculated per ISO 14067 standard, which specifies requirements and guidance for verifying and validating greenhouse gas statements and is internationally recognized.

The 1kg gold bars, 12.5kg gold bars, and the 1oz gold Lady Fortuna have been footprinted cradle-to-grave, whilst the gold grain and silver grain have been footprinted cradle-to-gate.

Data

MKS PAMP provided the primary and secondary data to the Carbon Trust, which used it to calculate the products' emissions. The following emissions per scope were measured and validated:

  • Scope 1:  emissions related to manufacturing processes such as materials used, combustion of liquid fuels, and self-generated electricity.
  • Scope 2: emissions generated from the acquisition and consumption of electricity, heat, steam, or cooling from external sources.
  • Scope 3: upstream raw material inputs, inbound transportation, downstream distribution, and end-of-life processing.

Validation

Following the footprinting  process, a separate unit within the Carbon Trust (Carbon Trust Assurance Team) conducts an independent audit of the products' footprint to verify its compliance with the appropriate standards and ensure impartiality.

Carbon emission offsets

4 Carbon emission offsets


Our offset projects

MKS PAMP's offset portfolio features credits certified by Verified Carbon Standard (Verra), the global leader in voluntary GHG reduction. Recognising its global footprint, MKS PAMP developed its first portfolio based on avoidance projects (offsets from activities that reduce emissions by preventing their release into the atmosphere) aligned with the locations of its operations and its corporate values.

Additionally, MKS PAMP offers its customers the opportunity to integrate offsets tailored to their specific preferences and needs, such as sequestration projects, which involve the capture and storage of existing COemissions from the atmosphere.

To date, MKS PAMP has engaged in several notable projects across three continents, categorized as follows:

Avoidance Projects:

  • The Brazilian Renewable Energy Project by VTRM (Ref: 1903) - Offset Portfolio
  • The 100 MV Solar Project (Ref: 1842) - Offset Portfolio
  • The Indian Solar Photovoltaic project (Ref: 1786) - Offset Portfolio
  • The Ivorian Soubré Hydropower project (Ref: 1522) - Offset Portfolio

Sequestration Project:

  • Afforestation of Degraded Grasslands in Vichada, Colombia (Ref: 2512) - Bespoke to Client

This strategic assortment underscores MKS PAMP's commitment to providing versatile and impactful offsetting options.

The offset process

Once the Carbon Trust Assurance Team verified the emissions related to the products and the required carbon offsets for product neutrality, MKS PAMP proceeds to purchase voluntary offsets focusing on carbon avoidance projects.

MKS PAMP buys the certificates used to offset the emissions for the Carbon Neutral product through two suppliers: ClearSky Ltd. and Pact Capital AG.

Validation of the offsetting

The offsetting purchase is validated by the Carbon Trust Assurance Team that conducts an independent audit in line with the ISO 14067 and PAS 2060 standards. The Assurance Team ensures that the appropriate number of voluntary offsets have been purchased to cancel out the total amount of carbon emissions.

About the Carbon Trust

5 About the Carbon Trust


The Carbon Trust is a global climate consultancy driven by the mission to accelerate the move to a decarbonised future. It has been pioneering decarbonization for more than 20 years for businesses, governments, and organisations. As a leader in carbon footprinting, the Carbon Trust verifies products, organisations and value chains around the world.

Drawing on a network of over 300 experts internationally, the Carbon Trust guides organisations through their journey to Net Zero. From strategic planning and target setting to delivery, activation, and communication - we provide smarter ways to turn intent into impact.

The Carbon Trust verification process

The verification services provided by the Carbon Trust gives third-party assurance of carbon measurement, reduction, and neutrality claims according to their standards and criteria.

The process involves:

  • Building a carbon footprinting model.
  • Assessing for conformance against the relevant standards.
  • Evaluating requirements and awarding the verification certificate.

Through the Carbon Trust verification, our products go through a full carbon footprinting process where the emissions generated across the products' value chain (Scope 1, 2, and 3) are measured and disclosed on the product certificate. For Carbon Neutral products (the 1kg and 12.5 kg gold bar), carbon neutrality is then achieved by offsetting the emissions from all scopes.

Gold 1kg and 12.5kg Qualifying Explanatory Statement - Product Neutrality Achievement
Gold 1oz Lady Fortuna Qualifying Explanatory Statement - Product Neutrality Achievement
Gold 1kg 12.5kg - Product Emissions Report