The London Bullion Market Association (LBMA) Responsible Sourcing Programme sets strict standards to ensure that all gold refined by LBMA-accredited refiners is sourced responsibly, ethically, and in compliance with international laws. The LBMA’s Responsible Gold Guidance (RGG) is aligned with global frameworks like the OECD Due Diligence Guidance and focuses on preventing the contribution of the gold supply chain to serious human rights abuses, conflict financing, money laundering, and environmental harm.
Refiners on the LBMA Good Delivery List are required to implement a robust five-step due diligence process, which includes:
Establishing strong management systems to ensure clear policies and responsibilities around responsible sourcing.
Identifying and assessing risks in the supply chain, including the origin of gold and the activities of suppliers.
Designing and implementing risk mitigation strategies, especially if red flags or high-risk situations are detected.
Conducting independent, third-party audits to verify compliance with the guidance.
Issuing an annual compliance report to promote transparency and accountability.