• London Bullion Market Association (LBMA)
• Umicore AG & Co. KG

The currently available amount of recycled gold is insufficient to cover market demand. Umicore AG & Co. KG is the exclusive supplier of the gold bars purchased to collateralise and, upon request, deliver Xetra-Gold® to investors. However, Umicore also sets high standards for the portion of gold that cannot be produced through recycling. In addition to the ‘Good Delivery’ quality seal of the London Bullion Market Association (LBMA), Umicore is certified by the Responsible Jewellery Council. Certification is only awarded if a gold bullion producer meets the prescribed ecological, ethical, social and human rights standards along the entire value chain. 

In 2012, the London Bullion Market Association (LBMA) introduced the Responsible Sourcing Programme for gold. It defines a common standard along the entire supply chain of the international wholesale precious metals market, based on the Due Diligence Guidance for Responsible Supply Chains of Minerals of the Organisation for Economic Co-operation and Development (OECD). Its aim is to prevent human rights violations in the extraction, transport and trade of gold. 

The criteria for responsible sourcing have become increasingly strict in recent years. ESG assessments, for example, were implemented for the first time in 2019. The London Bullion Market Association (LBMA) delivery system sets clearly defined standards for the quality of the precious metal, its ethical trade and responsible sourcing. Investors who purchase ‘Good Delivery’ bars can be sure that these standards have been met. Furthermore, the LBMA aims to continuously expand, adapt and update the requirements. 

Gold, per se, is sustainable, as it does not corrode and cannot be used up. The most sustainable form of gold mining to date is ‘green mining’, which takes ESG criteria into account along the entire value chain of gold extraction. This includes environmentally friendly development of gold mines and gold extraction or gold recycling, full respect for human and labour rights (especially regarding occupational health and safety, child or forced labour, forms of modern slavery, and fair remuneration) and responsible corporate governance. 

Both the exclusive purchase of gold bars that meet the London Bullion Market Association (LBMA) ‘Good Delivery’ standards and the certification of partner company Umicore AG & Co. KG by the Responsible Jewellery Council are in place to ensure that the gold held in the vaults of Clearstream Banking AG was not mined via child or forced labour.  

The gold held for the purpose of backing the Xetra-Gold® bearer bonds is purchased in collective orders of at least 500 kg and transported to Frankfurt via passenger or cargo aircraft. The resulting carbon footprint is offset in full by CO₂ certificates. This also applies to the gold delivered to the holders of Xetra-Gold certificates when making use of their right to physical delivery. These deliveries are conducted by Umicore AG & Co. KG. To the extent possible, they consist of gold bars from recycling stock.