05

CLIMATE CHANGE AND BIODIVERSITY

Foto credits immagine: Tommaso Rubechi

Material Topics​

  • Climate change
  • Renewable Energy Sources
  • Waste management
  • Biodiversity protection
  • Use of natural resources

Impacts

  • Greenhouse gas emissions and contribution to global warming
  • Technological transition and efficiency improvement
  • Biodiversity

Risk area

  • Economic and reputational damage due to the failure to decarbonize activities
  • Protection of biodiversity and ecosystems

Climate change, biodiversity and the environment

As part of our corporate mission aimed at pursuing environmental sustainability principles, we are faced with unprecedented challenges related to climate change and biodiversity loss. We therefore recognize the need to act to support the protection of the environment in which we live and operate, and to outline a strategic path to effectively address these global challenges.

Focusing our attention on the sector in which Italpreziosi operates, the aspects with the greatest impact on climate change and biodiversity mainly concern the precious metal extraction phase, followed by the refining and production phases of finished products. These activities involve a significant consumption of natural resources, energy and chemical agents, contributing to the emission of greenhouse gases and the alteration of ecosystems. Furthermore, waste management can have an additional environmental impact if not conducted responsibly and sustainably. The analysis of these impacts and risks will be explored in depth in the following paragraphs, with a specific focus on climate change and biodiversity.

Climate change is one of the main threats to our planet’s stability. We are therefore developing a strategy to evaluate our activities’ decarbonization, inspired by the principles of the Taskforce on Climate-related Financial Disclosures (TCFD) and the approach of the Science Based Target initiative (SBTi).

We started this process by certifying our carbon footprint according to the ISO 14064-1:2019 standard in 2021 and continuing work for 2023. Being aware and informed about our emissions is essential to develop a strategy to set concrete and measurable objectives, in compliance with SBTi standards, to reduce greenhouse gas emissions and mitigate our activities’ environmental impact, thus contributing to worldwide efforts to contain global warming, within the limits established by international agreements.

Simultaneously with the challenges related to climate change, we recognize the crucial value of biodiversity for our planet’s health. We are actively creating our Nature Roadmap following the guidelines of the Taskforce on Nature-related Financial Disclosures (TNFD), which we joined in 2023. This commitment involves the progressive integration of biodiversity into our business decisions and production processes, with the aim of promoting a balance as harmonious as possible between our activities and the natural environment.

The commitment to these major global challenges extends throughout our supply chain by promoting practices that support biodiversity conservation and climate resilience.

Our consumption

Consumption monitoring is not just a corporate responsibility practice, but an integral part of our strategy to promote sustainability at all organizational levels. Through the systematic collection and analysis of consumption data, we are able to identify trends, identify inefficiencies and take targeted corrective measures to reduce our overall environmental impact. In the sustainability report of the previous year (2022), the local unit, a new division of Italpreziosi, influenced consumption from September to December. However, in the current report, such consumption impacted the entire year 2023, thus representing a significant portion of the organization’s total consumption during the reporting period. For this reason, an overall increase in consumption will appear in the analyses conducted, as a direct consequence of the expansion of our activities and the integration of processes and resources within our corporate system. At the same time, the exploration of solutions to improve operational efficiency, optimize the use of resources and reduce waste continued, always focusing on practices that pay more attention to the responsible use of resources.

Paper consumption

The digitalization process that began in 2019 has allowed for growing savings in the use of paper. The process involved and still involves all departments and their internal processes, forms and filing.
In 2020 we joined the “PrintReleaf” project, which allows automatic reforestation equivalent to the consumption of paper used, offsetting the carbon emissions associated with paper and packaging products.

The project also allowed us to monitor printed pages. The trend of recent years has shown a progressive reduction in paper consumption.

2023

Printed pages
0
Replanted trees
0

2022

Printed pages
0
Replanted trees
0

2021

Printed pages
0
Replanted trees
0

Water consumption

Within our sustainability strategy, we recognize the crucial importance of responsibly and consciously managing our water consumption, as expressed in our environmental policy. Water is a precious and limited resource, and its inefficient use can have a significant impact on the environment and local communities. Monitoring water management in the corporate context is a fundamental practice, especially considering that in 2023 the World Resources Institute (WRI) classified Italy as a country with high water stress, according to the Aqueduct Water Risk Atlas. Countries with high water stress withdraw between 40 and 80% of their water resources. In 2023, 3475 m3 of fresh water were withdrawn by the headquarters, including: 2515 m3 of underground water and 960 m3 from third-party water resources. The local unit appears to have withdrawn a total of 824 m3 of water, coming from third-party water resources.
To better understand Italpreziosi’s impact on water resources and the related risks, we used the tool created by WWF: “Water Risk Filter.” This analysis revealed that the company has very low to low levels of risk with respect to the physical, reputational and regulatory risk associated with our water management.

2022

0 mc

2021

0 mc
Basin Physical Risk
1.69
Basin Regulatory Risk
1.85
Basin Reputational Risk
1.88

(1,0-1,8)

Very low

(1,8-2,6)

Low

(2,6-3,4)

Medium

(3,4-4,2)

High

(4,2-5,0)

Very high

Chemical products

In our precious metal processing processes, the use of chemical agents plays a fundamental role. These substances are essential for a number of processing steps, ranging from separation and purification of metals through finishing and creating high-quality final products. However, it is important to recognize that the use of chemical agents has significant implications for environmental management and workplace safety. The quantities of chemical products used are strictly related to the quantities of material treated and the complexity of the matrix of raw precious metals processed during the production activity. This direct relationship requires careful planning and control of chemical dosing and handling activities to ensure efficient and responsible use of these resources. Our goal is to find a balance between operational effectiveness and environmental impact, while always maintaining a focus on our employees’ safety and the protection of natural resources. For this reason, in recent years we have undertaken internal research projects in collaboration with university institutes such as the University of Florence, which have allowed us to reduce the use of chemical agents used in the processes. This research led to a positive result in 2023, with a percentage reduction of the two main acids used in production processes (-1.12% hydrochloric acid and -0.56% nitric acid), compared to 2022. In this way it was possible to respect the reduce principle, a fundamental part of our environmental policy. The main chemical products used by Italpreziosi (quantity expressed in tons), and the relative percentage of the total are:
2021 2022 2023
HCl 137,88 141,48 155,17
HNO3 107,51 117,47 130,72
Sodium hydroxide 132,10 122,05 144,41
Other substances 69,23 72,15 85,16
Total 446,72 453,15 515,45
%HCl 30,86% 31,22% 30,10%
%HNO3 24,07% 25,92% 25,36%
%Sodium hydroxide 29,57% 26,93% 28,02%
%Other substances 15,50% 15,92% 16,52%
Main activities using chemical agents:
  • Hydrochloric Acid and Nitric Acid are mainly used in refining gold and silver; i.e., in the process that allows the precious metals to be separated from other components and impurities
  • Caustic Soda: finds its main use in the reduction of NOX acid fumes
  • The other substances are mainly used in refining or laboratory activities
In 2023, 515.45 tons of chemicals were consumed. In 2022, 453.15 tons of chemicals were used.

Electric consumption

During 2023, our company’s total electricity consumption was 2,214,620 kWh In past years, consumption was:
Thanks to our own photovoltaic park, in 2023 we produced 180,836 Kwh internally. The self-consumed energy is equal to 137,997 kWh; i.e., 6.23% of the total. To reduce the environmental impact associated with electricity consumption, we regularly monitor the energy mixes of plausible suppliers. This allows us to identify and favor suppliers with a more renewable energy mix, in line with the company’s availability. At the same time, through a supplemental KYC questionnaire focused on ESG issues, we ask our counterparts to indicate their energy consumption and the percentages of energy used deriving from renewable sources. Through this request we can monitor our counterparts’ energy practices, and at the same time raise awareness in the industry of the importance of this aspect.

2022

0 kWh

2021

0 kWh

2020

0 kWh

Methane gas consumption

Our company’s methane consumption during 2023 was 83,572 Smc (Sm³). including 27,017 Smc for space heating and 56,555 Smc for productive use. The significant increase compared to 2022 (41,834 Smc) is reflected in the acquisition of Italpreziosi’s new division, which entailed new services and processes, as well as an increase in the volume of rooms to be heated during the winter.

Company fleet

In 2023, our company fleet had a total of 10 vehicles. During 2021, we took a first step in pursuing the principles of our environmental policy and strategy by purchasing our first hybrid car. This decision was made with a well-defined long-term goal: to progressively increase our fleet’s number of hybrid and electric vehicles. This decision is aimed at reducing greenhouse gas emissions and improving air quality in the areas where we operate. Looking to the future, Italpreziosi confirms its commitment to updating the vehicle fleet through the planned purchase of additional hybrid and electric vehicles. This will allow us to actively support the transition towards more sustainable mobility.
The company fleet is made up of:
  • 8 diesel vehicles
  • 1 gasoline vehicle
  • 1 hybrid vehicle
In 2022, the total amount of fuel used for our company vehicles amounted to 4,237.93 liters. During 2023, 6,189.22 liters were consumed. The increase in fuel consumption may reflect a change in business operations, increased vehicle circulation or other changes in our operational processes.

Waste management

During the refining process, several types of waste are generated, including tailings, slag and hazardous materials. Inadequate management of this waste can cause soil and water contamination, damage to ecosystems and risks to public health. For this reason, we believe it is essential to monitor the quantity and type of waste produced during our operations, adopting adequate measures for responsible management.
We have found that most of the waste is derived from acids used in refining processes. Since recycling the chemical used is not feasible in our process, we collaborated with the University of Florence to conduct research aimed at significantly reducing chemical agent use. As previously indicated, in 2023, we managed to reduce the percentage of acids in the total by 1.68%. This research also appears to have had an impact on the amount of waste produced. Analyzing the types of waste, only two categories exceed 1% of the total produced: CER 110106 (Acids not otherwise specified), representing 69.87%, and CER 161002 (Aqueous liquid wastes), with a presence of 27.75%. Considering that in 2022 the percentage of acids (CER 110106) was equal to 88.56% of the total, we recorded a significant percentage reduction, equal to 18.69% of acid waste on the total waste produced. In 2022, our company produced a total of 2,135.63 tons of waste, of which 1,827.01 tons were hazardous waste and 308.61 tons were non-hazardous waste. For 2022, the waste generated by the local unit was only considered for the last quarter of the year. The quantities of waste were extrapolated from the Single Environmental Declaration Model (in italian, Modello Unico di Dichiarazione Ambientale or MUD).
In 2023, the total waste produced amounted to 2,092.72 tons for the headquarters located in Strada A32, divided into:
hazardous
0 t
non-hazardous
0 t
Added to these are 468.74 tons produced by the local unit, including:
hazardous
0 t
non-hazardous
0 t

Commitment to the environment: Research and Innovation to reduce impacts

The commitment to responsible management is expressed in the company’s Environmental Policy. The policy was drafted in 2021 with the aim of defining the internal and external behavioral principles to be adopted to achieve continual and sustainable growth, aligned with research and innovation, for social and environmental performance consistent with values ​​of ethics and integrity. The commitment is long-term and reflects the goals of the Paris Agreement and current international and national regulations, thus contributing to attainment of the goal of zero carbon emissions by 2050.

The objectives and actions to be taken to achieve them are defined in detail in the policy:

  • Better use of resources
  • More sustainable mobility
  • Managers’ meals
  • Green purchases
  • Reduction of emissions
  • Increase in performance of the real estate
  • The creation of a certified integrated environment and energy management system
  • Information and training
  • Commitment and partnership for the objective
The model adopted is based on the “3R+E” principle: Reduce, Reuse, Recycle, Avoid.
The Policy also reiterates Italpreziosi’s will and commitment to reporting the results of the measures implemented to reduce its environmental impact in the social statement, and to working in cooperation with the parties involved in projects to reduce and eliminate these impacts. In compliance with the principles contained in this policy, Italpreziosi undertakes to pay attention to its consumption and impacts, with reduction objectives, through research and innovation. These processes involve the company in a complete and detailed way. All departments provide their contribution for an overall improvement in ESG performance. The research and development conducted in the company has given various results. During 2023, significant steps were taken towards adopting more efficient industrial practices, acquiring three cutting-edge Industry 4.0 machines, which integrate digital and physical technologies to improve operational efficiency and reduce the total environmental impact. On the office energy level, the process of renewing monitors continued, with reduced consumption LED panel models, which in 2023 affected approximately 40% of devices. As regards the local unit, the process of modernizing and improving the efficiency of the premises and equipment continued. The doubling of the acid fume abatement system was completed, thus contributing to halving polluting emissions. At the same time, some components and machinery were replaced with more efficient and safer solutions.

Industrial Plan 2020-2025 in progress and Planning for the Future

Looking to the medium term, in our current 2020-2025 Industrial Plan, innovation and commitment to the environment and biodiversity are the driving forces of the project for the new Italpreziosi headquarters. The objective is not to increase the environmental impact due to the extension of paving on the territories, but to redevelop existing industrial structures, through the most modern construction techniques, as well as achieving objectives of maximum energy efficiency. To date, an attempt has been made to restore value to companies that have made the history of the Arezzo industrial and artisan sector, but which have now been in a clear downward trend for several years. The actions implemented were primarily the identification of a sub-zone of ​​the industrial area in which Italpreziosi is present, which included similar processing companies, and which felt the need to take a breath again and return to the splendor of the past. Furthermore, we tried to understand if the surrounding areas held additional buildings in total dilapidation, which could be included in the ongoing redevelopment project. The declared objective is to create a centralized, multifunctional, innovative, sustainable industrial hub from the viewpoint of energy efficiency and environmental standards. The new environments aim to be totally human-scale and comply with the highest safety standards. This includes:
  • Modern technology treatment systems for the air and vapors produced during processing meet the relevant European directives. Key concept: circularity, through the recovery of waste materials containing metals and the creation of products of high interest for the market and with high added value. All this closes the circle and gives new life to products that until then were considered waste of little intrinsic value, mostly destined for landfills or waste-to-energy plants.
  • Latest generation production plants, built with the most efficient construction techniques, highly technological and integrated according to Industry 4.0 procedures. Objectives: increasingly Made in Italy and recyclable materials, production, energy and vapor treatment efficiency.
  • Energy efficiency, through the installation of photovoltaic panels over the entire coverage area of ​​the production plants, as well as the construction of a hydrogen fuel production plant. The surplus products generated by these two processes would be made available to the community, using existing distribution networks.
Ultimate goal: Energy self-sufficiency.

Climate change

Climate change is one of the most urgent and relevant challenges of our century. Increasing emissions of greenhouse gases, particularly carbon dioxide (CO2), caused by human activities such as industry, agriculture and transport, are having devastating impacts on our planet. Climate change is causing extreme phenomena such as increasingly intense heat waves, extreme weather events, prolonged droughts and sea level rise, which put food security, public health, infrastructure and biodiversity at risk. Activities connected to the precious metals supply chain can contribute to greenhouse gas emissions if not adequately managed, for example, through energy-intensive extraction and/or processing processes, with other factors, such as the transport of raw materials.
Italpreziosi has the long-term objective of aligning itself with the 2030 Agenda SDGs, with particular reference to objective 13 on climate change and its targets, with the principles of the Paris Climate Agreement, with the Green Deal and current international and national regulations, and therefore contribute to achieving zero carbon emissions by 2050, to limit the increase in global average temperature to below 2°C compared to pre-industrial levels, ideally trying to limit the increase to 1.5°C. To this end, it has undertaken a path based on the adoption of the TCFD (Task Force on Climate-related Financial Disclosures), the global initiative aimed at improving financial transparency regarding the risks and opportunities linked to climate change.
To have a better understanding and quantification of our impact on climate change, we measured our carbon footprint. This indicator evaluates the greenhouse gas emissions produced directly and indirectly by the organization.
Awareness of corporate impacts is a crucial first step in developing strategies for the sustainable management of resources and reduction of emissions. It also is a prerequisite for setting concrete objectives for reducing emissions. In this regard, the company is currently engaged in the Science Based Target (SBTi) initiative created with the aim of supporting companies in adopting ambitious mitigation objectives and guiding them in the transition to a low-carbon economy. This is in line with scientific recommendations regarding climate change, especially those provided by the IPCC (Intergovernmental Panel on Climate Change), from which the global warming mitigation objectives agreed during the Conference of the Parties (COP) 21 in Paris in 2015.
The carbon footprint was assessed for the years 2021, 2022 and 2023, and certified according to the reference standard ISO 14064-1:2019 in the year 2023.
The categories analyzed and evaluated are:
  • Direct emissions: set of emissions directly generated by the organization and over which it has direct control. Emission sources assessed:
    • Natural gas combustion from heating system/production plant
    • Fuel combustion fleet of owned vehicles used as means of transport of people and small goods transport
    • Fugitive emissions of refrigerant gases
    • Emissions resulting from the foundry process
  • Indirect emissions from electricity: emissions resulting from imported energy, Emission source assessed:
    • Electricity drawn from the grid for offices, production and related users
  • Emissions indirectly generated in the value chain. Emission sources assessed:
    • Emissions deriving from the goods transport service managed by the organization by air or by land
    • Emissions deriving from employee home-work travel
    • Emissions related to the raw material extraction process (gold and silver)
    • Emissions related to the use of chemical agents
    • Emissions related to waste management

Approach towards Net Zero

Italpreziosi intends to achieve zero emissions by 2050 by committing itself through a 3-phase approach: Measurement, Reduction, Compensation.
GHG measurement, as previously indicated, takes place according to the ISO 14064 standard. The company’s intention is to undergo this assessment annually.
Objective: Progressive reduction
As part of our sustainability strategy, Italpreziosi aims to reduce our CO2 emissions. To achieve this goal, we will join the growing group of leading companies that are adopting emissions reduction targets aligned with climate science, in particular SBTi (Science Base Target initiative). This commitment recognizes the crucial role that companies can play in minimizing the risks related to climate change and protecting the future of the planet.
Short Term Goals
In this context, Italpreziosi intends to establish short-term emission reduction targets, based on scientific criteria and in compliance with the Recommendations of the SBTi (Science Based Targets initiative). These objectives will be subject to validation by the SBTi within a maximum of 24 months.
Long Term Goals and Net Zero
To align with the more ambitious goal of the Paris Agreement and scientific recommendations to mitigate the impacts of climate change on society and nature, we are also committed to setting climate neutrality targets. This includes a long-term goal of achieving net zero emissions across the supply chain by 2050. These objectives will also be subject to validation by the SBTi within 24 months.
Strategy and Implementation
Following initial measurements, we will identify priority areas on which to focus our efforts. These areas will form the basis of our strategy to reduce and possibly offset climate impacts. Our strategy will be continuously refined and improved based on the results obtained, ensuring a proactive and responsible approach in the fight against climate change.

Climate Roadmap

2021

The Carbon Footprint analysis and reporting process begins

ISO 14064 certification
2022
2023
TCFD and identification of risks and opportunities
Target Setting Submission of targets to SBTi end of 2024: Climate and Nature Report
2024
2030

Near-term objectives
Reduce scope 1 and 2 GHG emissions, according to the set targets

Objective: Net-zero

2050

Protection of biodiversity

Climate change is not the only emergency the planet is facing. The loss of biodiversity, which is also partly interconnected to the increase in temperatures, and all that derives from it, is an equally looming threat. Biodiversity is the variety of life forms on Earth, including plants, animals and microorganisms, as well as the range of ecosystems that they compose. It is a fundamental element for our planet’s health. Biodiverse ecosystems provide a range of vital services, such as air and water purification, climate regulation, soil fertilization, disease control, and the production of food, medicine, and natural materials.
Biodiversity is threatened by a number of factors, including deforestation, urbanization, pollution, habitat loss, destruction of natural ecosystems, and the introduction of invasive species. These threats have caused an unprecedented rate of species extinction, with negative consequences for ecosystem stability and human well-being.
For effective biodiversity protection, concrete measures need to be taken at global, national and local levels. This may include creating protected areas, promoting sustainable management of natural resources, conserving critical habitats, combating illegal hunting and trade of wildlife, education and public awareness. Protecting biodiversity goes beyond simple moral respect. It is a necessary action to guarantee the sustainability of natural resources and vital environmental conditions for future generations.

In this regard, in 2023 Italpreziosi became a member of the TNFD (Task Force on Nature-related Financial Disclosures), the global initiative that aims to guide businesses and the financial sector towards better evaluation and management of risks and opportunities related to biodiversity and natural ecosystems. Our membership of the TNFD demonstrates our commitment to understanding and managing environmental risks, as well as promoting financial transparency.

At the same time, we aim to join the Science-Based Targets Network (SBTN) in the medium-long term to establish science-based targets for nature, to reduce our and our supply chain’s impact on biodiversity.
To ensure compliance with environmental standards and the protection of biodiversity, Italpreziosi requires its counterparts to complete questionnaires on ESG issues. Through these questionnaires, the company asks its business partners for detailed information regarding compliance with environmental legislation and the protection of biodiversity. This initiative aims to promote a responsible supply chain and ensure that all business activities are conducted with respect for the environment and biodiversity.
In 2023, with the membership of TNFD, an internal research process based on the same began, to allow us to start defining our Nature Roadmap. For this purpose, the LEAP approach was followed, based on the following points:
  • LOCATED: Identifying your interface with nature
  • EVALUATED: Evaluation of dependencies and impacts on nature
  • ASSESS: Evaluation of risks and opportunities related to nature
  • PREPARE: Preparedness to respond to nature-related risks and opportunities and to report on one’s nature-related materialities.
Risks, potential impacts and opportunities on biodiversity
As a precious metals refinery, our operations are closely interconnected with and impact natural resources. For this reason, we are taking a holistic approach that considers our activities’ environmental, climate and natural impacts.
The potential impacts of the activities, products and services offered by Italpreziosi on biodiversity are mainly indirect in nature. These impacts arise mainly from supply chain activities, in particular from mining, which could potentially cause habitat degradation, and pollution of the surrounding air and water due to fine dust, gaseous emissions and use of chemicals containing heavy metals that can end up in drains. Furthermore, mining could potentially influence species migration due to acoustic impacts, vibrations and other environmental disturbances.
Other negative impacts on biodiversity could arise from resource consumption and associated impacts. For example, water consumption and the use of electricity and methane, as well as the procurement activities of these resources, could have consequences on biodiversity.
Furthermore, on a direct level, Italpreziosi’s greenhouse gas emissions, contributing to climate change, could have a significant impact on biodiversity. These emissions are considered a global driver of biodiversity loss.
The approach towards the definition of a Nature Roadmap has allowed the identification of risks, impacts and opportunities regarding biodiversity.

Events and Initiatives for a Nature Positive Path

The will and commitment to establish a “Positive Nature” path are also demonstrated by participation in events aimed at the preservation of biodiversity, including, for example:
  • Participation in September 2023, during climate week in New York, in the event “Advancing corporate action for nature through transition planning and the TNFD and SBTN frameworks” promoted by the Task Force on Nature-Related Financial Disclosure (TNFD), of which Italpreziosi is a member.
  • In October 2023, Italpreziosi participated in the European Business and Nature Summit held in Milan. The meeting provided important insights into the crucial importance of nature and biodiversity, which are the foundation of our global economy. This is why it is important and also advantageous for the budget to integrate nature into company strategies. In this context it is essential to recognize the connections between climate change and biodiversity and the crucial role of education and raising awareness throughout the supply chain. Participating in the summit provided an important stimulus for Italpreziosi towards formally adhering to the ideology promoted by this initiative, through the signing of the commitment scheduled for 2024. It plans to commit to better understanding and managing environmental impacts, also through the implementation of SMART objectives with the aim to avoid negative impacts, restore and regenerate where possible, and promote ambitious policies.
Partnering with other businesses and financial institutions to support biodiversity and enacting governance mechanisms to ensure accountability and implementation of our actions.
  • Avoid negative impacts, restore and regenerate where possible, and promote ambitious policies;
  • Collaborate with other companies and financial institutions to support biodiversity, and we will implement governance mechanisms to ensure accountability and execution of our actions;
  • Monitor performance and transparently communicate relevant nature-related information.

Governance for a concrete impact

Responsibility

The Sustainability Commission, consisting of Corporate Senior Management, is responsible for ensuring that environmental policy is implemented.

The Corporate Social Responsibility Manager is responsible for coordinating the Sustainability Commission’s activities.

Likewise, all employees and collaborators are responsible for ensuring that this policy’s goals and objectives are achieved.

To view our environmental policy

In 2022, the first edition of the CORPORATE SUSTAINABILITY CHAMPION COMPETITION was established, through employees’ use of the AWorld app developed by the United Nations

The app content offers access to ideas, videos, and interesting tips for everyday life, to always stay on track and become champions of change. You can also monitor your impact and create sustainable challenges with your family, loved ones, and especially your children or grandchildren, who represent the new generation.

Together, we have contributed to:

5414,64
Kg co2 saved

151147,22
L water saved

3485,96
kWh electricity saved

Locally

Looking to the present

Our plants are state-of-the-art and high-tech, with the aim of maximizing efficiency and minimizing environmental impact, with emissions close to zero.

Minimizing environmental impact is a crucial objective for our company. Considering that greenhouse gas emissions are among the main causes of global warming and climate change, we decided to avoid using one of the main causes of emissions, namely fossil fuels. This is the reason we choose not to use coal and diesel in our refinery, but rather “cold” chemical processes, to reduce emissions considerably.

We have also installed solar photovoltaic technologies in the upper part of our building. This was the first step towards using ever cleaner energy resources.

We are participating in a local

Arezzo hydrogen valley

project to redevelop the territory through the restoration and subsequent use of a hydrogen plant for industrial purposes. The energy sources concerned are composed of a photovoltaic system and a waste-to-energy plant.

Italpreziosi, with other companies, participates as a “LOCAL INDUSTRY OFF-TAKEN”

We have joined the

Print releaf initiative

to contribute to reforestation to compensate for paper consumption.

In 2022

for

595.800

printed pages

Were replanted

71,50

trees

Trees have been planted for every certain number of printed pages

Water consumption

960 mc*

2200,02 mc

Civil use

Productive use

Methane gas consumption

2021

2022

18.948,00
smc

41.834
smc

Chemical products

2021 2022*
Hydrochloric acid 20% 32,82%
Nitric Acid 15% 27%
Caustic soda 20% 30%
Other substances 45% 10,01%

In 2022, the total number of chemicals used was:
452,3 ton.*

What are these products used for and where are they used?
  • Hydrochloric Acid: AU and AG refining
  • Nitric Acid: AU and AG refining
  • Caustic Soda: NOX smoke abatement
  • Other substances: Laboratory and Refining

Energy consumption

2021

2022

1.432.074,57
kWh

1.668.756,39
kWh

The significant increase in consumption compared to 2021 is reflected in the acquisition of the new Italpreziosi division, which resulted in new services and processes, which have had an impact on the change in the figures.

Corporate fleet

We currently have a total of 10 company vehicles. In 2021, we purchased a hybrid car, with the long-term goal of increasing the number of hybrids and electric vehicles in the company fleet.

To date, there are:

diesel vehicles
0
gasoline car
0
hybrid car
0

In 2022, we used 4237.93 liters of fuel for business vehicles.

*results related to: Route A 32

Digital pollution

Pollution we don’t see

Digital pollution includes all sources of environmental pollution produced by ICT (Information and Communication Technologies) tools. Therefore, it is linked to production of any digital instrument and Internet systems’ operation.

A first step in combating this invisible impact was to choose systems that could have the least impact. The latter relates to electronic devices and their use in our company may be considered irrelevant with respect to the company’s turnover volumes.

The calculation requirements at the EDP level are physiologically reduced by the nature of the data processed (“office” documents). The central physical server machines were recently renewed with a consequent reduction in power supplies (500W vs 800W).

For network equipment, refurbished, or “regenerated” devices were chosen, meaning a product that is not new and cannot be sold as new, even if it is in excellent condition.

For desk stations, a process of modernization towards low-impact devices has begun, with 35W processors (similar to laptops): in last 3 years, 70% of desktop PCs were renewed and the process will continue in 2023.

We have also embarked on a process of renewing the monitors, moving from the old 23-35W/ pc LCD models to new ones with an LED panel for a consumption of about 13-15W/pc. In 2022 we replaced almost 40% of the monitors used in workplaces.

For the Cloud part, we decided to rely on suppliers attentive to sustainability issues, namely Google Cloud and Cloud.it.

Packaging

We ensure that the precious item, once selected, reaches the end user, guaranteeing the content’s origin, protecting and maintaining the object’s value.

To this end, identifying sustainable packaging is essential. Italpreziosi has therefore committed itself to selecting certified stakeholders, who comply with international standards and are therefore able to guarantee the supply of eco-compatible packaging, as also defined in our Environmental Policy.

Italpreziosi’s packaging is supplied by certified Heavy Metal Absence stakeholders, according to the 94/62 EC directive, which aims to harmonize national measures concerning the management of packaging and packaging waste as well as improving environmental quality by preventing and reducing the impact on it.

Blister

Italpreziosi blisters accompany all coins and ingots up to a 100g cut.

In addition to guaranteeing safety and anti-counterfeiting, Italpreziosi blisters are made of durable copolyester, a highly transparent and recyclable material. In the transformation and recovery process, the material’s characteristics of fluidity and reproducibility is equipped make it possible to process it at lower temperatures than others (due to its reduced specific heat capacity, it can be thermoformed with reduced energy consumption: the maximum working temperature in absence of load is about 65°C.)

The copolyester can also be processed without the need for pre- drying. In the field of processing plastic materials, to maintain the finished products’ quality, materials need to undergo a further preventive phase, prior to the processing/transformation phase. This step consists of pre-heating, designed to eliminate surface moisture.

Given the properties of the material Italpreziosi chooses, this phase is no longer necessary. It is therefore possible to proceed directly with the processing and/or transformation.

The copolyester’s reduced thermal capacity, combined with elimination of the pre-drying process, makes it possible to significantly reduce energy consumption in processing and transformation processes.

Cases and gift boxes

Italpreziosi cases and gift boxes are made with FSC® – Forest Stewardship Council® certified pure cellulose paper and cardboard. The certification confirms that the forest from which the raw material comes is managed in such a way as to preserve biological diversity and bring benefits to the lives of people and local workers, while guaranteeing economic sustainability (https://fsc.org/en/forest-management-certification).

The paper that makes up Italpreziosi Cases and Gift Boxes is also classified ECF (- Elemental Chlorine Free – or “chlorine-free”), Acid Free (acid-free) and Long Life (ISO 97/06 standard).

Sustainable gadgets

In 2022, we introduced more sustainable business gadgets, able to recall and emphasize the concept of reuse and recycling. Among these is the Sprout pencil, which contains seeds to plant a flower at the end of (re) use.

Local (+) supply

Sustainability also means buying locally:

= lower environmental impact

+ benefits for the community

In 2022, the origin of our most local suppliers of products and services was distributed as follows:

29,2 %
Italy
14,8%
Tuscany
13,5%
Arezzo

Planning for the future

In our 2020-2025 Business Plan, protection of the environment, biodiversity and water, with our people’s well- being, were the driving forces behind the project for new Italpreziosi headquarters.

The goal is to avoid increasing the environmental impact due to extension of concreting of the territories, but to redevelop existing industrial structures, through the most modern construction techniques, as well as to achieve objectives of maximum energy efficiency.

At the same time, an attempt was made to restore value to companies that made the history of the Arezzo industrial and artisan sector, but which had been in a clear downward trajectory for several years.

The actions implemented were first of all the identification of a sub-area of the industrial sector in which Italpre- ziosi is present to present its processes to similar companies, which felt the need to take a breath again and return to the splendor of the past.

Additionally, an attempt was made to understand if there were additional buildings in total degradation in neigh- boring areas, which could be annexed to the current redevelopment project.

The stated objective is to create a centralized, multifunctional, innovative, sustainable industrial hub of great significance and attractiveness.

The new environments will be completely human-sized and will comply with the highest safety standards. At the same time, it is necessary to completely review the logic of internal and external workflows by pursuing the agile philosophy, which translates into an efficiency of resources and a consequential reduction in energy waste.

The facilities will be equipped with plants for treatment of air and vapor produced during processing. They have all the most modern technologies and follow European directives on the matter.

The processes that will be conducted here will be centered on circularity. They are able to recover waste materials containing metals and creating products of high interest to the market and with high added value. All this by clo- sing the circle and giving new life to products hitherto considered a waste of little intrinsic value, destined mostly for landfills or waste-to-energy plants.

The production plants will be of the latest generation, built with the most efficient and modern construction te- chniques, highly technological and fully integrated according to Industry 4.0 procedures. These will also be com- pletely Made in Italy with 100% recyclable materials and will be absolutely unique, as they are made specifically to meet Italpreziosi’s needs, in terms of production efficiency, energy efficiency and treatment of waste vapors.

Energy efficiency will also be achieved through the installation of photovoltaic panels on the production plants’ entire coverage area, as well as by building a hydrogen fuel production plant. The surplus products, generated by these two processes, will then be made available to the community, using existing distribution networks.

All this will make Italpreziosi energy self-sufficient and have zero impact.

Globally

Ensuring the responsibility of our supply chain

Choosing responsible consumption and production is a crucial step that every single player in supply chain must take for a more secure future for our planet.

In our Know Your Counterpart (KYC) on-boarding procedures within the Compliance Department, all environmental documentation is carefully analyzed: all our suppliers, based on their activity, must submit specific documentation that attests to their commitment to maintaining appropriate environmental standards. Additionally, we always request additional information on initiatives or plans to reduce or completely eliminate environmental impacts.

Our analysis of counterparts examines in detail all the chemicals used in their process, both before and during the employment relationship, to determine an evaluation of the counterpart.

In 2022, we developed a special questionnaire on ESG issues aiming on deepening knowledge of environmental, social and governance aspects by the various stakeholders with whom Italpreziosi works; the issues required concern business structure, human resources, the environment and mining information, with a particular focus on issues related to carbon footprint, environmental mitigation and improvement initiatives, non-tolerance of discrimination, gender equality and human rights.

The metal’s origin is always fundamental. In our “Index of High Risk Countries”, which we update annually, we always conduct an environmental analysis. The sources used are always international organizations, private compliance firms, government databases and regulations, and NGO reports.

The objective is to be clear about the regulatory framework in environmental field, as well as the analysis of any protected zones or areas or World Heritage areas. This is because, by analyzing the area of origin, we can be sure that the material we purchased does not come from areas with high environmental risk. If there are potential colleagues, we try to understand how to support them in mitigating the risk coming from the operating area. In fact, it is also important for us to train our counterparts on issues related to climate, environment, biodiversity and responsible mining.

We guarantee the highest standards of quality and sustainability through a documentary verification work followed by a site visit to attest the veracity of the information obtained.

Initiatives

Planet gold

In 2019, we joined planetGOLD’s Program Advisory Group (PAG), which involves various stakeholders including the United Nations, NGOs, associations, private sector companies and public authorities.

The planetGOLD program works in collaboration with governments, the private sector, and ASGM communities in nine countries to significantly improve the production practices and work environment of artisanal and small-scale miners. Working to close the funding gap, supporting formalization, raising awareness and connecting mining communities with mercury-free technology and formal markets, the program aims to demonstrate a path towards cleaner and more efficient small-scale gold mining practices for the benefit of everyone, from mine to the market.

Supporting countries’ commitments under the Minamata Convention on Mercury, the planetGOLD program is working to eliminate mercury from the gold supply chain produced by artisanal and small-scale miners (ASGM) to:

• Support efforts to integrate the ASGM sector into the formal economy, society and regulatory system

• Introduce and facilitate access to mercury-free technologies and best practices in ASGM

• Facilitating miners’ access to formal gold supply chains, in collaboration with gold buyers and industrial users

• Pilot a series of models for access to investments and funding for small-scale miners and their communities

United Nations Environment Programme Supported by the Global Environment Facility, planetGOLD is coordinated by the and implemented in partnership with the United Nations Industrial Development Organization, United Nations Development Programme, and Conservation International.

The planetGOLD program is supported by 19 government authorities and other organizations in Burkina Faso, Colombia, Ecuador, Guyana, Indonesia, Kenya, Mongolia, Peru and the Philippines. In June 2020, the Global Environment Facility (GEF) Council approved a new program to expand planetGOLD to 15 countries.

Italpreziosi actively participated in creation of the community supply chain from Colombia, in partnership with the United Nations, Colombian Government Authorities, the Alliance for Responsible Mining (ARM) and trusted business partners. To learn more, here is the video of the event organized during the last OECD Forum on Responsible Mineral Supply Chains in 2022:

“globally”

GARANTENDO LA RESPONSABILITÀ DELLA NOSTRA FILIERA

Scegliere un consumo e una produzione responsabili è un passo cruciale che ogni singolo attore nella catena di approvvigionamento deve intraprendere per un futuro più sicuro per il nostro pianeta.

Nelle nostre procedure di on-boarding Know Your Counterpart (KYC) all’interno del Dipartimento di Compliance, vengono fatte attente analisi di tutte le documentazioni a livello ambientale: tutti i nostri fornitori, in base alla loro attività, devono presentare specifiche documentazioni che attestino il loro impegno nel mantenere gli standard ambientali adeguati. Inoltre, richiediamo sempre informazioni aggiuntive su iniziative o pianificazioni per ridurre o eliminare totalmente impatti verso l’ambiente.

La nostra analisi delle controparti esamina dettagliatamente tutti quelli che sono i prodotti chimici utilizzati nel loro processo, sia prima del rapporto lavorativo che durante, al fine di determinare una valutazione della controparte.

L’origine del metallo è sempre fondamentale. Nel nostro “Indice dei Paesi ad Alto Rischio” che aggiorniamo annualmente, viene sempre effettuata un’analisi sull’ambiente.
Le fonti utilizzate sono sempre organizzazioni internazionali, società di conformità private, database e regolamenti dei governi e rapporti di ONG.

L’obiettivo è avere chiaro il quadro normativo in ambito ambientale, come anche l’analisi di eventuali zone o aree protette, o aree patrimonio dell’umanità.

Questo perché analizzando l’area di provenienza, possiamo avere la certezza che il materiale da noi acquistato non provenga da aree ad alto rischio ambientale, e se vi fossero potenziali controparti, cerchiamo di capire di come supportarle nel mitigare il rischio proveniente dall’area operativa.

Difatti, per noi è importante anche formare le nostre controparti su temi relativi a clima, ambiente, biodiversità ed estrazione mineraria responsabile.
Garantiamo i più alti standard di qualità e sostenibilità attraverso un lavoro di verifica documentale seguito da site visit per attestare la veridicità delle informazioni ottenute.

INIZIATIVE

PLANETGOLD

Nel 2019 siamo entrati a far parte del Program Advisory Group (PAG) di planetGold, che coinvolge vari stakeholder tra Nazioni Unite, ONG, associazioni, aziende del settore privato e autorità pubbliche.
Il programma planetGOLD lavora in collaborazione con i governi, il settore privato e le comunità ASGM in nove paesi per migliorare significativamente le pratiche di produzione e l’ambiente di lavoro dei minatori artigianali e su piccola scala. Lavorando per colmare il divario di finanziamento, sostenendo la formalizzazione, sensibilizzando e collegando le comunità minerarie con tecnologia priva di mercurio e mercati formali, il programma mira a dimostrare un percorso verso pratiche di estrazione dell’oro su piccola scala più pulite ed efficienti a vantaggio di tutti, da il mio al mercato.
Sostenendo gli impegni dei paesi nell’ambito della Convenzione di Minamata sul mercurio, il programma planetGOLD sta lavorando per eliminare il mercurio dalla catena di approvvigionamento dell’oro prodotto da minatori artigianali (ASGM) e su piccola scala per:

  • Sostenere gli sforzi per integrare il settore ASGM nell’economia formale, nella società e nel sistema normativo
  • Introdurre e facilitare l’accesso alle tecnologie prive di mercurio e alle migliori pratiche in ASGM
  • Facilitare l’accesso dei minatori alle catene di approvvigionamento formale dell’oro, in collaborazione con acquirenti di oro e utenti industriali
  • Pilotare una serie di modelli per l’accesso a investimenti e finanziamenti per i minatori su piccola scala e le loro comunità

 

Supportato dal Global Environment Facility, planetGOLD è coordinato da United Nations Environment Programme ed implementato in partnership con United Nations Industrial Development Organization, United Nations Development Programme, e Conservation International.

Il programma planetGOLD è supportato da 19 autorità governative e altre organizzazioni in Burkina Faso, Colombia, Ecuador, Guyana, Indonesia, Kenya, Mongolia, Perù e Filippine. Nel giugno 2020, il Council of the Global Environment Facility (GEF) ha approvato un nuovo programma per espandere planetGOLD in 15 paesi.

Italpreziosi ha partecipato attivamente alla creazione della filiera da comunità proveniente dalla Colombia, in partnership con Nazioni Unite, Autorità Governative colombiane, Alliance for Responsible Mining (ARM) e partner commerciali fidati.

Per saperne di più, qui il video dell’evento organizzato durante l’ultimo Forum on Responsible Mineral Supply Chains dell’OCSE.

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Precious Metals Refining and Trading

Strada A, 32 – Loc. San Zeno
52100 Arezzo – Italia

P.IVA 01111420517
info@italpreziosi.it

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Italpreziosi S.P.A | Strada A, 32 – Loc. San Zeno 52100 Arezzo – Italia | P.IVA 01111420517
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