The question we wanted to ask you is aligned with your work with Tiffany and several other companies, including those in the aerospace industry. Do these companies typically require your company to comply with sustainability guidelines? What kinds of standards related to emissions are they using? That’s a great question. In my industry, most of the emphasis on sustainability has traditionally focused on the sourcing of raw materials.

We deal with silver, gold, and platinum alloys in various forms for different industries. Since these materials are extracted from the Earth, there is significant concern about the methods used for extraction. This has become increasingly important over the years, especially for major clients like Tiffany & Co. Tiffany has been proactive in understanding the origins of the metals and stones used in their products for about 20 years now, emphasizing sustainability in their sourcing.

Recently, however, our customer base has been looking deeper into our practices. They are interested not only in where our raw materials come from but also in how we handle them, what is created inside our plant, and what emissions we release. Over the past few years, there has been a growing emphasis on setting sustainability goals related to emissions and hazardous waste generation. Although we haven’t yet adopted a specific standard for emissions, we are collaborating with our clients to develop these goals. The reason they are asking us to do this is that we are a critical link in their supply chain. They are responsible for reporting sustainability compliance, and they need us to align with their goals to ensure they meet their overall sustainability commitments.

By helping us come on board, they ultimately help themselves achieve their sustainability targets. In my industry, there are two forms of recycling, one of which is less harmful than the other. The first method is called refining, which is somewhat analogous to oil refining. In refining, an alloy or a mixture of metals, which includes not just pure gold, silver, or platinum but also other elements like copper, germanium, and zinc, is processed to strip it back to its pure form. This is the process used in “cash for gold” programs where old jewelry is refined to extract pure gold, silver, or platinum. The refining process can be dirty, involving the use of chemicals like cyanide and impacting the environment, but there are cleaner ways to do it.

The second method is called the clean scrap process. This involves taking back scrap material from our customers’ processing, melting it, and reusing it without any chemical stripping. This method is much cleaner as it simply involves melting and reforming the metal. About three years ago, I implemented this process with Tiffany & Co., and it has been hugely successful for them. Approximately a year and a half ago, Tiffany initiated a groundbreaking mandate that all materials used must be 100% recycled, prohibiting the use of metals directly extracted from the Earth. This was a significant shift in our industry, which many found challenging because not all manufacturing facilities are equipped to handle such requirements. As Tiffany’s largest supplier, we had to lead the way and persuade the rest of the industry to adopt this approach.

This initiative has started to influence others in the industry. Clients from various sectors, including the arts, are now beginning to request 100% recycled materials. While there are additional costs associated with this process, which can be prohibitive for some customers, the trend is growing. We are seeing an increasing number of clients who are willing and able to manage these costs to align with more sustainable practices.