A summary of Juhani Grossmann’s remarks at Basel Gold Day II on corruption risks in gold supply chains. He highlights experiences from our Green Corruption team, explains why recycled gold might not be as ethical as it sounds, and ends with two broad recommendations for companies, state-owned enterprises and regulators in the gold trade.
Mark Pieth, Founder of the Basel Institute on Governance and author of the book Gold Laundering, offers an insight into the risks of human rights and environmental harms in gold supply chains. Where are the risks and responsibilities?
Collective Action with gold refiners, suppliers and other stakeholders, he concludes, can help to clean up the industry.
Gold industry experts from across the private and non-profit sectors came together at Basel Gold Day on 9 October 2020 to explore perspectives on the challenges of ensuring responsible and sustainable gold supply chains.
The University of Basel's Law Faculty will host a virtual Basel Gold Day on Friday, 9 October from 14:00–16:15.
Led by Mark Pieth, Professor of Criminal Law and President of the Basel Institute on Governance, the workshop will gather gold industry leaders and experts to explore "How to obtain clean gold: the consumer perspective".
Die Schweiz ist der global wichtigste Standort für die Raffination von Gold. Jahr für Jahr werden circa 2200-3100 Tonnen Rohgold in die Schweiz importiert. Der Grossteil der Importe ist auf die Geschäftstätigkeit der hiesigen Goldraffinerien zurückzuführen. Sie sollen gemeinsam rund 50-70% der weltweiten Goldproduktion in die Schweiz importieren, um daraus Goldbarren, Halbfabrikate und andere Güter herzustellen.
Switzerland is the world leader in gold refining. Of the roughly 2,200–3,100 tonnes of raw gold imported into the country each year, the majority is destined for Swiss gold refineries. Together these companies are estimated to refine 50–70 percent of the world’s gold production, transforming it into gold bars, semi-finished products and other goods.
The Basel Institute's latest Working Paper explores whether, why and how gold refiners can be further integrated in efforts to prevent and combat money laundering in Switzerland. The author, Stefan Mbiyavanga, explains the background and what motivated him to write it, including pending reforms in the Swiss Anti-Money Laundering Act.
In this eye-opening book, Mark Pieth gives an in-depth insight into how the global gold market works, what role Switzerland plays in it, where the hidden abuses lie and how human rights in the gold industry can be protected in a credible way.