MKS PAMP Unveils First Carbon Neutral Gold Certified by the Carbon Trust
Geneva – July 28th, 2022 – MKS PAMP, a provider of financial and physical trading services, and state-of-the-art precious metals refinery, unveiled today a new portfolio of Carbon Neutral precious metals products (1) certified by the Carbon Trust - a first in the precious metals industry. MKS PAMP Carbon Neutral gold products include its bestselling 1kg gold bar and 12.5kg large gold bar both certified (2) by the Carbon Trust in accordance with the international PAS 2060 Carbon Neutrality Standard. MKS PAMP is currently working towards Carbon Neutral certification for its iconic 1oz Lady Fortuna gold bar (3).
Speaking about today’s milestone, Marwan Shakarchi, CEO, MKS PAMP, said “Our ability to offer a portfolio of products that have been independently certified as Carbon Neutral by the Carbon Trust means that our clients, be it jewelers, watchmakers, or financial institutions, can turn to MKS PAMP in confidence as they seek to lower their carbon footprint. We foresee that our Carbon Neutral products become the industry new gold standard as end-consumers increasingly turn to carbon labelled products”.
Hugh Jones, Managing Director, the Carbon Trust commented, “The Carbon Trust is pleased to have certified MKS PAMP’s 1kg and 12.5kg gold bar products as Carbon Neutral in accordance with PAS 2060. This is an important step on the company’s sustainability journey, demonstrating its commitment to reducing the carbon footprint of its product portfolio. We hope it will encourage the precious metals sector to continue to increase its ambition and accelerate the move towards a Net Zero future.”
MKS PAMP has adopted a carbon management plan (4) to reduce its yearly carbon emission reduction for the Carbon Neutral bars by 2030. This will be achieved through engagement with its suppliers on their carbon management plans, their GHG emissions impact and reduction efforts.
Tamara Jomaa-Shakarchi, Head of ESG, MKS PAMP, added “This is a tangible step in MKS PAMP’s journey to lower its GHG emissions. Through alignment of these products with PAS 2060, we are proud to commit to yearly reduction of the GHG emissions related to these products and ensure their carbon neutrality by offsetting the excess emissions.”
Working with the Carbon Trust, the carbon footprint of MKS PAMP Carbon Neutral gold is initially measured and certified, a carbon management plan is developed, and , the remaining emissions are then compensated by carbon offsets contracts (5). MKS PAMP offset portfolio consists of three types of credits certified by the global leader in voluntary GHG reduction, Verified Carbon Standard (Verra). Based on its global footprint, MKS PAMP decided to focus on avoidance projects with a focus on countries where the company operates or sources its products, and in alignment with its corporate values. To date, MKS PAMP has focused on the following projects, across three continents.
- The Indian Solar Photovoltaic project (Ref: 1786)
- The Ivorian Soubré Hydropower project (Ref: 1522)
- The Brazilian Renewable Energy Project by VTRM (Ref: 1903)
Once the Carbon Trust certified the emissions related to the gold bars and the number of carbon offsets required for product neutrality, MKS PAMP proceeded to purchase voluntary offsets that focus on Carbon avoidance projects. Avoidance offsets are from activities that reduce emissions by preventing their release into the atmosphere.
“We are pleased that ClearSky was able to help MKS PAMP lower their GHG emissions by supplying them with a tailored portfolio of voluntary carbon offsets and we look forward to continuing to help them reduce their carbon footprint in the future” concluded, Jeff Romanek, Director, ClearSky.
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About MKS PAMP
With a global footprint and over 60 years of experience in the precious metals industry, MKS PAMP – part of the MKS PAMP Group – is dedicated to creating a sustainable future with precious metals products and services. The company offers the world’s most extensive range of durable, innovative and responsibly sourced precious metal products and services. The company builds on leading artisan savoir-faire and Swiss engineering to manufacture a wide range of products in all four precious metals and in various forms, and provides precious metals services such as trading, refining, vaulting and storage, treasury and mine financing.
Still managed by the founding family, MKS PAMP is an advocate for long-term thinking, responsible sourcing, sustainability and ethics, working closely with its stakeholders to set the highest codes of conduct in the industry. MKS PAMP developed Provenance, a traceability solution that utilizes blockchain to trace precious metals along the supply chain and guarantee responsible sourcing globally. MKS PAMP aims to create value by leveraging its technical expertise, innovations and global infrastructure to be an indispensable global partner and the most sustainable organization in the precious metals industry.
For more information on MKS PAMP and its decarbonization progress, visit www.mkspamp.com/carbonneutralgold or email ESG@mkspamp.com
About the Carbon Trust
The Carbon Trust is a global climate consultancy driven by the mission to accelerate the move to a decarbonised future. We have been pioneering decarbonisation for more than 20 years for businesses, governments, and organisations 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
2. Carbon Trust Assurance Limited certifies that MKS PAMP has calculated the carbon footprint representing all Gold Bars Cradle-to-Grave Business-to-Consumer and marketed globally in accordance with: PAS 2060:2014 - Specification for the demonstration of carbon neutrality
3.The iconic 1oz Lady Fortuna gold bar product has also achieved the Carbon Measured certification
4. MKS PAMP Qualifying Explanatory Statement - Product Neutrality Achievement
5. MKS PAMP buys the certificates used to offset the emission for the Carbon Neutral product. MKS PAMP acquires the offsets through two suppliers: ClearSky Ltd. (www.clearskyltd.com/) and Pact Capital AG. (www.pact.capital/knowledge-hub)