Editor’s Note
Chow Tai Fook, a leading jewelry retailer, has announced a comprehensive sustainability strategy targeting environmental impact, talent development, and industry innovation. A key initiative includes launching a 100% recycled gold product line in 2025, priced competitively to promote broader adoption of sustainable materials.
Chow Tai Fook (1929) has announced a new sustainability blueprint focusing on three core areas: environment, talent, and industry, with plans to integrate sustainability concepts into every aspect of its operations and production. On the environmental front, the company will prioritize the use of recycled precious metals, launching a product series made from 100% “recycled gold” next year at prices similar to existing products. Management hopes the new products will make a strong debut, raising consumer awareness that buying gold can also be an environmentally friendly choice.
“Recycled gold” refers to gold that is recovered and reused. According to Ng Wah-yu, Director of Sustainability at Chow Tai Fook Jewellery Group, sources include gold jewelry sold by customers to jewelry stores, or precious metals recovered by gold recyclers from industrial waste and discarded electronic equipment. This recovered gold undergoes a refining process, and its gold content is no different from regular gold, also being 9999 pure gold. As gold is a finite mineral resource, increasing the use of recycled gold can reduce reliance on newly mined gold, contributing to sustainable development.
Chow Tai Fook will first launch the “MONOLOGUE 100% Recycled Gold Series” in mainland China in January next year, followed by the launch of recycled gold products under the main “Chow Tai Fook” brand in Hong Kong in the second half of next year, with prices expected to be similar to existing products.
Chow Tai Fook’s past gold jewelry products have also used recycled gold, accounting for about 15% of the total, but this is the first time an entire gold jewelry product will be made from 100% recycled gold. To launch these products, Chow Tai Fook will require suppliers to provide third-party certification to identify whether the gold is completely newly mined or recycled. The company has also established a dedicated production line for recycled gold products.
Sonia Cheng, Vice Chairman of Chow Tai Fook Jewellery Group, stated that the company is the first Chinese jewelry brand to launch products using recycled gold, hoping to bring a positive impact to the jewelry industry. Looking ahead, Chow Tai Fook plans to increase the proportion of recycled gold used in its products to achieve the goal of reducing reliance on newly mined precious metals. It will also collaborate with international and local industry associations and relevant institutions to research and develop standards for recycled gold jewelry. Ng Wah-yu indicated that Chow Tai Fook will also focus on promoting gold recycling in the future, such as planning to offer recycling incentives to members.
The “MONOLOGUE 100% Recycled Gold Series” is made using black gold craftsmanship, targeting a stylish aesthetic.
In addition to gold, Chow Tai Fook stated that for the diamonds it uses, the goal is for all T·MARK diamonds to be traceable to their country of origin by 2029, and it is committed to moving towards traceability to the mine. In fact, since April 1 this year, all newly purchased T·MARK diamonds by Chow Tai Fook have been traceable to their country of origin.
Chow Tai Fook’s “Sustainability 2049” blueprint commits to reducing the group’s greenhouse gas emissions by 50% before 2030, with the goal of achieving net-zero emissions by 2049, the company’s 120th anniversary. Ng Wah-yu said the company will reduce the intensity of harmful chemical use in the production process and reduce the environmental impact of product packaging materials by 50% before 2030. She gave an example: if a customer buys gold jewelry for personal use, they will be encouraged to choose an elegant brocade pouch instead of a packaging box.
Gold bars and granules made from recycled gold are indistinguishable from products made from newly mined gold.
Chow Tai Fook formulated a ten-year sustainability plan in 2019. Ng Wah-yu said that this year marks the halfway point, and after re-evaluation, the new “Sustainability 2049” blueprint was established, focusing on the three core areas of environment, talent, and industry.
Chow Tai Fook stated it will establish an international talent platform to cultivate, inspire, and empower future designers and artisans, further promoting talent development and driving industry innovation. Through providing scholarships, internships, training programs, and incubation platforms, it will support aspiring designers and artisans, preserving Chinese culture and ensuring the inheritance of Chinese jewelry craftsmanship and technology.
The group will also establish cooperative relationships with museums, educational and cultural institutions, including the Palace Museum in Beijing, the Hong Kong Palace Museum, The Chinese University of Hong Kong, the Shaanxi History Museum, and Northwestern Polytechnical University, aiming to reach 15% of the global population through education, cultural exchanges, and other means by 2030, promoting Chinese culture and Chinese gold jewelry craftsmanship worldwide.
Furthermore, Ng Wah-yu pointed out that Chow Tai Fook is committed to enhancing employee well-being. According to a survey by CUHK and the Family Welfare Society in mid-May this year, the overall family happiness index of the group’s employees was 6.76 points, higher than the 6.06 points in the territory-wide survey. She also gave an example: Chow Tai Fook introduced new special holidays this year. During the summer holidays in July and August, and every Friday afternoon this December and next January, Hong Kong back-office employees enjoy half-day holidays, allowing colleagues more time to spend with their families.
Reporter: Yip Cheuk-wai