"Green" Gold: Two Markets, Two Prices?
Gold is approaching the $3,000 mark—but alongside the price increase, the market is undergoing a fundamental shift. ESG-compliant, “green” gold is moving into focus. But what is behind this trend, and are we facing a split in the gold market?
What is "green" gold?
“Green” gold comes from environmentally friendly and socially responsible mining. Low CO₂ emissions, minimal use of chemicals, and fair working conditions distinguish it from conventional gold. Certifications and transparent supply chains guarantee ESG standards—albeit at a higher cost.
Nevertheless, demand is growing: investors and companies are increasingly opting for ESG-compliant alternatives, even if they are more expensive. For companies, ESG gold is not just an ethical statement, but also a safeguard—as violations of supply chain protection laws can be costly.
The growing demand for ESG gold
Companies like Apple and Tiffany & Co are leading the way. Apple is increasingly using recycled gold, while Tiffany relies on its own controlled supply chains with a focus on environmental and human rights. Banks and investors are also demanding proof of origin. For example, the BW-Bank website states: “More and more customers want to know more about the bar in their safe deposit box”—such as whether it comes from a certified mine. ESG gold is becoming the standard.
Transparency through technology: Finomet
Traceability remains the greatest challenge. This is where the blockchain platform Finomet comes in, which aims to enable seamless control of the supply chain in the near future—from the mine to the bar. In this way, it will protect against greenwashing and build trust among investors and consumers.
Despite its ESG efforts, Apple has faced criticism over alleged conflict minerals from the Congo. A system like Finomet could improve transparency and minimize such risks through consistent auditing of all suppliers and mines of origin.
Two prices for gold?
More complex production and rising demand are driving the price of ESG gold. While the conventional market remains, a premium segment for sustainable gold is growing. Two price structures could define the market in the future.
Conclusion
“Green” gold has long been more than just a trend—it is changing the market. While ESG standards create new pricing models, technologies like Finomet ensure transparency. The division of the market into two tiers is no longer just a possibility, but a likely future.