OUR SUSTAINABLE PRODUCTS
We go beyond compliance. It is our goal to use our position as an international precious metal trader to encourage our suppliers and partners to join us in our endeavor. philoro understands its role in shaping the broader industry’s attitudes and actions.
In order to achieve the objectives, set out by the OECD, philoro is building an ecosystem of trusted partners of producers, traders, advisors, NGOs, and regulators.
To ensure social and ethical responsibility and sustainability, all of our products are LBMA accredited.
What is the LBMA?
The London Bullion Market Association (LBMA) - "The Independent Precious Metals Authority"
The LBMA has developed the "Responsible Sourcing Program" - their mandatory independent program that verifies the legitimacy of gold and silver supply chains, ensuring that the sourcing meets international standards.
Only manufacturers/ refiners of gold and silver bars who comply with this guide, fulfill its requirements and undergo regular checks and inspections are LBMA accredited and named on the "Good Delivery List".
The world market price for silver has been determined in London ever since 1897, and for gold since 1919. Consequently, the London Bullion Market has become the world's largest most important over-the-counter trading market for gold and silver. The members of the LBMA include large international banks, financial institutes, refiners, mine producers, trading, manufacturers, and transportation/ vaulting.
To be a part of the Good Delivery List, producers must fulfill certain criteria. The company has to have existed for more than five years, and been producing gold bars for at least three years. Accredited refiners must process a minimum of ten tons of gold per year and have tangible assets worth 15 million pound or more. Additionally, they must comply with the guidelines of the responsible sourcing program and other LBMA requirements.
This ensures, that bars manufactured by accredited producers correspond to the highest quality features.
If you want to learn more about the responsible sourcing program, have a look at this video by the LBMA.
How the LBMA Manages Responsible sourcing
Sustainability at philoro
Sustainability is just as important to our partners Valcambi S.A. (from Switzerland) and Heimerle + Meule GmbH (from Germany) as it is to us. The gold for our bar series comes from mines, where extremely strict environmental regulations are observed. Furthermore, the employees of Valcambi and Heimerle + Meule are paid fairly, and it is ensured that during production, CO2 emissions are as low as possible.You, as a philoro customer, can be sure that your gold or silver bar corresponds to the highest standards of the quality of the product and the origin of the precious metal. Heimerle + Meule is part of the LBMA Good Delivery List and is therefore an accredited manufacturer, as proven by the melter mark "melter assayer" on our gold bars. The same applies to the renowned Valcambi S.A. with the melter's mark "CHI – ESSAYEUR FONDEUR". These philoro partners can also be found on the LBMA Good Delivery List.
