A Hierarchy OF 'ETHICAL' METALS
Not all metals are made equal
There are more ethical options now than ever before, which is great but in our opinion not all ethical metals are equal in terms of the good that they actually do. This is the hierarchy that we implement in our business and we will be adding blog posts as to why this is in the coming weeks and months. Where possible, we will implement this policy from 1st to 5th.
1st - Fairmined Gold - Fairmined gold was the label developed by ARM (Alliance for Responsible Mining) and in our opinion represents the best solution for miners, their communities and the enviorment.
2nd - Fairtrade Gold - A Sheme aligned to the fairtrade brand which ensures full traceability
4th- Recycled metals
5th - 'Normal' metal - These are metals that comes from the open market and is untraceable.
In our opinion there is a case for using untraceable metals when there is no other option, provided a donation is made to an effective charity. The basis for this is the approach outlines by effective altruism in a short video you can see here.
Whilst using 'normal' metals may mean that the metal has come from a mine where working conditions are poor and workers are paid badly, money from that sale can be used to help tackle extreme poverty which is the reason why people have no option but to work in these conditions in the first place.
Metal that does not come with the guarantees and safeguards that our 1st to 4th choices come with is cheaper, therefore a donation of 5% of the retail price of all jewellery sold using normal metals with be donated to givewell.org on a quarterly basis.
So why does Fairmined come out on top?