As the global precious metals industry faces evolving risks, regulatory expectations and growing demands for transparency, responsible sourcing has become an increasingly important part of market governance. Against this backdrop, the London Bullion Market Association (LBMA) has published its 2026 Sustainability & Responsible Sourcing Report, outlining the progress made during the past year and its priorities for 2027.
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The report provides an overview of LBMA’s Sustainability & Responsible Sourcing Programme and details its efforts to strengthen integrity, accountability and trust across the Loco London market. It covers initiatives involving market collaboration, responsible sourcing standards, transparency, assurance and engagement with stakeholders across the precious metals value chain.
According to LBMA, the programme is designed to support responsible practices through standards, guidance, assurance systems and cooperation across the market.
Six Key Areas Highlighted in LBMA’s 2026 Report
The 2026 report focuses on six major areas of activity that have shaped LBMA’s sustainability and responsible sourcing work over the past year.
- Convening market action through work on illicit gold flows and strengthened engagement with International Bullion Centres.
- Advancing standards through the public consultation on Responsible Gold Guidance Version 10.
- Enhancing transparency via the Refiner Transparency Roadmap and strengthened disclosure expectations.
- Supporting responsible inclusion through continued progress on artisanal and small-scale mining (ASM) and publication of the Supporting Pathways for Responsible ASM report.
- Improving assurance confidence, including the launch of an Approved Assurance Provider Toolkit and training delivered to more than 125 Assurance Providers globally.
- Driving multi-stakeholder engagement through the Sustainability & Responsible Sourcing Summit and continued work with the Gold Principles Group.
The report also provides updates on governance and accountability, enforcement measures, country-of-origin information, and LBMA’s strategic priorities for the coming year.
Seven Chapters Cover LBMA’s Sustainability Programme
The 2026 report is structured across seven chapters, covering leadership perspectives, programme developments, refiner performance and future strategic priorities.
Chapter 1: Leadership Messages
The opening chapter includes the CEO’s Foreword and the Director’s Report, providing leadership perspectives on LBMA’s sustainability and responsible sourcing work.
Chapter 2: Year at a Glance
The second chapter provides an overview of key developments and activities from the reporting period, giving readers a concise view of progress across the programme.
Chapter 3: About LBMA and Its Sustainability & Responsible Sourcing Programme
This chapter explains LBMA’s role and provides background on its Sustainability & Responsible Sourcing Programme, including its purpose and broader approach to responsible precious metals sourcing.
Chapter 4: Sustainability & Responsible Sourcing Programme Updates
The fourth chapter provides detailed updates on the programme’s various areas of activity, including standards, transparency, responsible sourcing and stakeholder engagement.
Chapter 5: Refiner Performance
The fifth chapter focuses on refiner performance, providing information related to the implementation and performance of responsible sourcing requirements across refiners.
Chapter 6: Strategic Objectives for 2027
The sixth chapter looks ahead, outlining LBMA’s strategic objectives for 2027 and identifying areas where the organisation intends to continue developing its sustainability and responsible sourcing efforts.
Chapter 7: 2024 Country of Origin Data
The final chapter presents 2024 Country of Origin Data, adding greater transparency around the geographical origins associated with the precious metals supply chain.
Governance, Accountability and Enforcement
Beyond its six main areas of activity, the 2026 report also provides updates on governance and accountability, enforcement activity and country-of-origin data.
LBMA has also outlined its strategic objectives for the year ahead, providing an indication of the areas that will receive attention as the organisation moves into 2027.
LBMA CEO Ruth Crowell on the Future of the Market
LBMA CEO Ruth Crowell highlighted the importance of collaboration, transparency and market resilience as the precious metals sector continues to evolve.
“As the market continues to evolve, LBMA will remain focused on strengthening trust, supporting transparency and bringing stakeholders together to address shared challenges. By working collaboratively across jurisdictions and sectors, we can help the precious metals market to remain resilient, responsible and fit for the future.”
Her comments underline LBMA’s stated focus on cooperation across jurisdictions and sectors as part of its approach to maintaining confidence in the precious metals market.
Nirali Shah Highlights the Changing Role of Responsible Sourcing
Nirali Shah, Sustainability and Responsible Sourcing Director, emphasised that responsible sourcing increasingly needs to respond to developments beyond traditional compliance requirements.
“Responsible sourcing can no longer be viewed solely through the lens of compliance; it must operate as a forward-looking programme that evolves in response to emerging risks, responds to geopolitical and market developments, and enables higher standards of integrity across the precious metals value chain.”
Her statement reflects the report’s broader focus on adapting responsible sourcing practices to emerging risks, geopolitical developments and changing market conditions.
LBMA’s Focus Heading Into 2027
The 2026 Sustainability & Responsible Sourcing Report outlines a continued focus on market integrity, responsible sourcing, transparency, assurance and stakeholder collaboration. With its priorities for 2027, LBMA is positioning these areas as important elements of its ongoing work to support trust and accountability in the global precious metals market.
FAQ’s
1. What is the LBMA 2026 Sustainability & Responsible Sourcing Report?
The LBMA 2026 Sustainability & Responsible Sourcing Report reviews the organisation’s work over the past year across responsible sourcing, sustainability, transparency, assurance and market collaboration. It also outlines LBMA’s strategic priorities for 2027 and provides updates on governance, enforcement and country-of-origin data.
2. What are the six key areas covered in the LBMA 2026 report?
The report highlights six major areas: tackling illicit gold flows and strengthening market engagement, advancing responsible sourcing standards, improving transparency, supporting responsible artisanal and small-scale mining, enhancing assurance confidence, and increasing multi-stakeholder engagement across the precious metals industry.
3. What is LBMA doing to improve responsible gold sourcing standards?
LBMA highlighted its public consultation on Responsible Gold Guidance Version 10 as part of its efforts to advance responsible sourcing standards. The organisation’s report indicates that its framework is intended to evolve in response to emerging risks, geopolitical developments and changes across the precious metals market.
4. How is LBMA working to improve assurance and transparency?
LBMA has highlighted progress on its Refiner Transparency Roadmap and strengthened disclosure expectations. It also launched an Approved Assurance Provider Toolkit and provided training to more than 125 Assurance Providers globally, with the aim of supporting confidence and consistency within its responsible sourcing assurance processes.
5. What are LBMA’s priorities for responsible sourcing in 2027?
The 2026 report sets out LBMA’s priorities for 2027, with continued attention to responsible sourcing, transparency, market integrity, assurance and collaboration. The organisation also intends to address emerging risks and strengthen engagement among stakeholders across jurisdictions and sectors as the global precious metals market continues to develop.
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