2024 INITIATIVES REPORT

100% Sustainable Sourcing of Materials by 2027

• Objective: Transition to 100% ethically sourced, environmentally friendly materials by 2027.
• Initiatives:
  • Ethical Metal Sourcing: Commit to sourcing all gold, silver, sterling silver, zinc alloy, and stainless steel from suppliers who adhere to the highest ethical and environmental standards. We aim to prioritize certified recycled metal suppliers and partner with responsible refineries.
  • Supply Chain Audits: Conduct regular audits and assessments of our supply chain to verify compliance with ethical sourcing standards. This will include engaging third-party organizations to ensure accountability and transparency.
  • Supplier Code of Conduct: Develop a comprehensive supplier code of conduct focused on fair labor practices, environmental conservation, and responsible mining and refining processes.
  • Traceability Initiatives: Implement systems that allow customers to trace the origin of the materials in their jewelry, ensuring transparency and accountability. 
  • Certified Supply Chain: Collaborate with suppliers who hold certifications such as Fairmined or Fair Trade, ensuring traceability and accountability in sourcing.

40% Reduction in Greenhouse Gas (GHG) Emissions by 2030

• Objective: Achieve a 40% reduction in greenhouse gas (GHG) emissions by 2030.
• Initiatives:
  • Optimizing Processes: Continuously improve manufacturing and operational processes to minimize energy consumption and emissions across all stages of the supply chain.
  • Energy-Saving Technologies: Implement advanced energy-saving technologies, such as LED lighting, energy-efficient machinery, and renewable energy systems, across all operations.
  • Employee Engagement: Inspire and support employees in adopting sustainable practices both at work and beyond, including reducing energy usage, minimizing waste, and choosing sustainable transport options.

Optimizing Eco-Friendly Packaging

• Objective: Implement fully sustainable and zero-waste packaging solutions by 2027.
• Initiatives:
  • Biodegradable and Recyclable Packaging: Transition to using 100% biodegradable or recyclable materials, such as kraft paper, recycled cardboard, and plant-based alternatives for all our packaging needs.
  • Plastic-Free Commitment: Eliminate all single-use plastics from our packaging and replace them with sustainable, eco-friendly alternatives. We are exploring options like biodegradable foam, recycled paper, and compostable wrapping to ensure the safe and responsible delivery of our jewelry.
  • Minimalist Packaging Design: Streamline our packaging designs to use fewer materials without compromising on quality or aesthetics. This approach not only reduces waste but also enhances the unboxing experience for our customers.
  • Eco-Friendly Printing Practices: Adopt eco-friendly printing techniques, such as using soy-based and water-based inks, to minimize toxic chemical release into the environment.

Carbon Neutrality

• Objective: Achieve carbon-neutral operations across our supply chain by 2030.
• Initiatives:
  • Carbon Footprint Assessment: Conduct a detailed assessment of our carbon emissions across all stages of production, including material sourcing, transportation, manufacturing, and retail operations.
  • Renewable Energy Use: Transition our production and office facilities to renewable energy sources, such as solar and wind power. We are also exploring partnerships with green energy providers to accelerate this shift.
  • Sustainable Transportation: Reduce our emissions from transportation by optimizing our logistics network and using low-emission or electric vehicles. We are committed to working with logistics partners who share our environmental values.
  • Offsetting Initiatives: Invest in carbon offset programs that have a meaningful impact, such as global reforestation projects, renewable energy developments, and marine conservation efforts. We will also explore participation in initiatives like the United Nations Climate Neutral Now program.

Community Engagement and Ethical Practices

• Objective: Create meaningful social impact by supporting communities and advocating for ethical labor practices.
• Initiatives:
  • Artisan Partnerships: Collaborate with local artisans and craftspeople, ensuring fair wages, safe working conditions, and opportunities for skill development. We believe in celebrating the craftsmanship and cultural heritage behind our jewelry pieces.
  • Community Development Programs: Launch initiatives that support education, healthcare, and economic empowerment in communities involved in jewelry production. These programs will focus on building sustainable livelihoods and improving quality of life.
  • Industry Advocacy: Advocate for systemic change in the jewelry industry by working with non-profits, advocacy groups, and coalitions that aim to eliminate child labor, promote gender equality, and ensure environmental protection.
  • Employee Volunteerism: Encourage our employees to give back to the communities we serve through paid volunteer days and organized community service events.

Waste Reduction and Circular Economy

• Objective: Implement a circular economy model to minimize waste and promote recycling by 2027.
• Initiatives:
  • Buyback and Recycling Program: Launch a program where customers can return old or broken Azuri pieces in exchange for store credit. Returned items will be melted down and reused, promoting a closed-loop system.
  • Upcycling Initiatives: Develop a limited-edition collection that utilizes upcycled metals, such as reworking scrap gold, silver, and other materials from previous collections.
  • Precision Manufacturing Techniques: Invest in technology that reduces material waste during production, such as laser cutting and 3D modeling. This will allow us to optimize the use of precious metals and minimize offcuts.
  • Zero Waste Workshops: Implement zero-waste workshops in our facilities to educate our artisans and craftsmen about waste reduction techniques and sustainable practices.

Transparency and Reporting

• Objective: Maintain transparency and accountability in our sustainability efforts through open communication.
• Initiatives:
  • Annual Sustainability Reports: Publish detailed reports that outline our environmental impact, progress toward our goals, and areas for improvement. These reports will be made available to the public to foster trust and accountability.
  • Third-Party Verification: Work with independent auditors and sustainability experts to review our practices and ensure we are meeting our stated commitments.
  • Customer Feedback Mechanisms: Establish channels for our customers to share feedback on our sustainability efforts. We believe that listening to our community will help us improve and innovate further.

Partnerships and Collaborations

• Objective: Collaborate with like-minded organizations to enhance our sustainability efforts and broaden our impact.
• Initiatives:
  • NGO Partnerships: Partner with NGOs and environmental organizations that align with our sustainability goals to tackle issues like responsible mining, reducing waste, and supporting local communities.
  • Industry Collaborations: Join industry initiatives, such as the Responsible Jewellery Council, to collaborate with other brands on sustainable practices and standards.
  • Sustainable Certifications: Seek out sustainability certifications such as B Corp or ISO 14001 to demonstrate our commitment to meeting internationally recognized standards for environmental and social responsibility.

Employee Awareness and Training

• Objective: Build a culture of sustainability and environmental responsibility within our organization.
• Initiatives:
  • Sustainability Workshops: Host regular workshops and training sessions to educate employees about our environmental goals, responsible sourcing, and waste reduction practices. This will empower our team to become advocates for change.
  • Eco-Friendly Office Practices: Implement green office initiatives, such as reducing paper usage, encouraging remote work to minimize emissions, and providing incentives for using public transportation.
  • Green Ambassador Program: Establish a program where employees can volunteer to become Green Ambassadors, leading sustainability projects and inspiring colleagues to adopt eco-friendly habits.

*While Azuri is committed to the sustainability initiatives outlined in this report, we acknowledge that these objectives are aspirational and represent our ongoing efforts to improve our environmental and social impact. We are actively working towards achieving these goals, but we do not guarantee that all targets will be met within the specified timelines. External factors, including supply chain constraints, market conditions, and regulatory changes, may affect our ability to fully implement these initiatives. We remain dedicated to transparency and will continue to update our stakeholders on our progress.