Do you wear gold jewellery or watches – or invest in gold? Are you willing to pay a premium to know where and how the gold was sourced?
Do you agree with the view that Switzerland – as a gold trading and refining hub – has a special responsibility in ensuring that the gold it refines is not linked to environmental degradation and human rights violations? Why or why not?
Tell us what you think in the comments below!
Many people have always sought after gold, but little do they know about the exploitation of people who are involved in mining gold, like tea in the past.
I fully agree with Switzerland's approach to setting an example of an ESG in gold trading and refining.
We are already paying a praemium for gold. Namely the environmental and social cost that gold mining causes. For now, we have not yet signed the corresponding checks, but our children will have to. So, meanwhile could we rather invest in sustainable alternatives that do not worsen the various on going crisis?
I have never bought gold, but if I did, the current definitions of what is considered Ethical (not just in buying gold), would play No part in my decision making; as it is mostly propaganda and lies to promote self-interests.
As with many things in our society, toxic geo-politics has infiltrated gold trading as well. We are now forced to consider the "nationality" of gold (country of origin); as if every human in a given country is either good or bad, the classification which is based on power-play, greed, hunger for more control over others, and if the country in question agrees with everything we say/do, or they want to make their decisions independently.
Such tactics continue to cause us ever more harm - population feels alienated as politicians no longer care about what people want the taxpayer-funded leaders to focus on, leaders are wasting time/money trying to solve problems which they themselves created, etc. No wonder so called far-right movements are gaining ground, and no wonder many/most voters, in many countries, no longer even bother to vote.
Ethical behavior begins with our own actions. As an example, how about we stop exploiting poorer countries, for their diamonds, cocoa, fish, raw materials, and instead, help them establish their own industries, so that people in poorer countries can create more jobs and feed themselves?
There will then be less conflicts, less need for "blood diamonds" or "unethical gold"! There will also be less refugees, which we taxpayers pay billions for.
Lets start ethical behavior at home first. Any people who have influence, interested in looking in the mirror?
(what I have said applies to several countries; my comment is not focused on any one country)
Why should I pay for information which should be honestly and openly available to the gold-buyer?
I don't understand the motive of this question. The question does not make sense.
Do you mean whether I would pay more for ETHICALLY sourced gold? Then yes.
No....I wouldn't pay a premium to know where and how the gold was sourced. If they do start making such an offer I would become very suspicious seeing that the US dollar is on its way out and the only "real" money in the world is gold. They've been manipulating gold prices for a very long time. When gold goes up- the $ goes down. I wouldn't be surprised if a "war on gold" broke out just to prevent the demise of fiat currencies, especially the US dollar. Nonetheless, they should expose the mining of the lithium batteries they're putting in EV vehicles that are spontaneously exploding even in electric bikes and scooters. It's terrible. If a person does their research they will find that "lithium mining" is not green friendly at all.
I would pay a premium to know where and how the food that we purchase is sourced. I do my best to read the labels to discover the information but many times the info is not complete.
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