A “Premium”, calculated on the London Bullion Market daily price of the gold, is paid by the House purchasing responsible gold through the Kering Ethical Gold Framework. The premium is allocated to the Kering Gold Fund, to be invested into sustainability projects in ASMs, both Fairmined and/or Fairtrade, or to ASM communities working towards responsible mining.
The Kering Gold Fund is administrated by a Responsible Gold Steering Committee, composed of collaborators from Kering, and from our Houses. We meet at least once a year to support sustainable projects targeted at ASM communities.
The Framework holds another role: it supports local, artisanal and ethical miners as well as the communities that surround them. A partnership between the platform and the Solidaridad network enables Kering to support small mines, create positive impacts on its surroundings, empowering the women of the mines.
This is what we do in Ghana for example, where the Golden Line project helps 150 women from the mining community to create their own businesses.