Chow Tai Fook Jewellery Group (CTF) announced its new sustainability blueprint, ‘Chow Tai Fook Jewellery Sustainability 2049’ (‘Sustainability 2049’) on 19 December 2024. The plan focuses on three core pillars: Environment, People and Industry, integrating sustainability into every aspect of its business operations and production processes.
According to the group, the blueprint encompasses strategic initiatives, most notably the introduction of 100 percent recycled gold collections in 2025. It is the first initiative of its kind in the Chinese jewellery industry and a target of net-zero emissions by 2049. These initiatives represent key sustainability directions for the group as it progresses towards its 120th anniversary.
Sonia Cheng, vice-chairman of CTF, said: “Chow Tai Fook Jewellery has consistently led innovation in the jewellery industry, and we are unwavering in our commitment to a sustainable and inclusive future. As the first Chinese jewellery brand to introduce products crafted from 100 percent recycled gold, we are setting a new industry standard and actively sharing our expertise with peers and partners. This initiative demonstrates our dedication to driving positive change across the jewellery sector. We are grateful for the support and trust of organisations like the World Gold Council (WGC), and we look forward to strengthening collaborations with partners to develop transformative, responsible practices that will reshape the future of our industry.”
Lixin Wang, regional CEO of the World Gold Council (China), said: “The gold industry plays a significant role in the future of sustainability. The WGC has been collaborating closely with major jewellers in the downstream sector of the gold production chain to foster innovative developments in the gold market. CTF’s long-term strategic blueprint ‘Sustainability 2049’ aims to enhance the circularity and traceability of precious metals, especially gold materials, while pledging to set the standard for responsible and low-impact operations, which is a value worth imparting to fellow peers in the industry. Under the principles of mutual benefit and collaboration, we expect to see gold industry leaders fostering high-quality green development and working towards an aspiring future together.”
A key initiative is the 2025 launch of collections crafted from 100 percent recycled gold. CTF will progressively increase the use of recycled material across all collections, reducing reliance on newly mined precious metals. The group will also be collaborating with international and local industry associations and institutions to establish new standards for recycled gold jewellery.
With a commitment to sourcing precious metals and other materials responsibly, the group endeavours to reach 100 percent traceability of its T·MARK diamonds to their country of origin by 2029, ultimately striving to extend traceability to the mine of origin. From FY2025 (1 April 2024), all newly sourced T·MARK diamonds will be traceable to their country of origin.
In pursuit of the group’s ambition to achieve net-zero by 2049, CTF is transitioning to low-impact operations and remain committed to reducing overall emissions by 50 percent by 2030. The environmental impact of product packaging and use of harmful substances in jewellery production will also be minimised. The Group targets to reduce 50 percent of the environmental impact of product packaging by 2030. (Photo courtesy: CTF)
24-12-2024
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