- Johnson Matthey has successfully designed a mass balance accounting methodology for offering 100% recycled PGMs.
- The methodology has been reviewed and accepted by the Carbon Trust as being in line with industry recommendations, outlined by the Ellen MacArthur Foundation.
- This assurance successfully completes the first phase of Johnson Matthey’s mass balance accounting approach and will further enable its customers to meet sustainability goals.
Johnson Matthey (JM) is a leading PGM recycler, providing a sustainable supply of these critical metals to meet existing and future demand. Secondary (recycled) PGM offers exactly the same industrially powerful properties as primary (mined) PGM, but with a much lower carbon intensity – up to 98% less*. To support customers in decarbonising their products and supply chains to meet their sustainability goals, they will be able to purchase 100% recycled PGMs from JM, backed by the Carbon Trust’s assurance in JM’s mass balance accounting methodology for recycled PGM content.
JM will employ its mass balance methodology across its metal accounting processes, with annual review and verification by the Carbon Trust to ensure continued confidence in its approach. From December 2023, JM will be able to offer 100% recycled PGM for sale to selected customers (subject to agreement) into an unallocated pool at its UK and US locations, and directly into local customer accounts.
Tim Murray, JM’s Precious Metals Management Sales Director, said:
“We are proud to have the Carbon Trust’s assurance for our mass balance methodology, enabling us to sell 100% recycled PGM to our customers. Along with our responsible sourcing and metal funding expertise, we’re pleased to be able help our customers take meaningful steps to reduce their Scope 3 carbon expenditures.”
The Carbon Trust is a global climate consultancy driven by the mission to accelerate the move to a decarbonised future. JM has worked with the Carbon Trust to ensure its mass-balance approach is robust, credible and trustworthy, giving independent verification of JM’s methodology for sourcing and selling recycled PGM content.
*Source: GaBi Database 2022 (International Platinum Group Metals Association)