MIORO SUSTAINABILITY AND ANNUAL REPORT 2024


1. COMPANY DESCRIPTION AND CEO’S MESSAGE

Since our establishment in 1974, Mioro is headquartered in Istanbul and operates globally, focusing on sustainability, transparency, and ethical business practices as part of its core values. Mioro’s strengths are evident in its extensive experience, technical proficiency, and the exceptional skills of its dedicated workforce, which together enable the company to adeptly meet the ever-evolving demands of the market and fulfill the discerning requirements of its valued customers.

Mioro has led industry in ethical gold supply chain, jewelry manufacturing, and global exports. As a prominent player in the market, since 2013 we integrate technological expertise with sustainable practices, ensuring compliance with RJC COP and Signet Responsible Sourcing Protocol (SRSP) standards.

Our company operates a fully integrated production facility covering 12,000 square meters, accommodating an array of more than 500 machines. It excels in machine chain production, offering both hollow and solid varieties. In addition to machine chains, thanks to its casting, stamping, and electroforming capabilities, Mioro offers a wide range of 5,000 unique designs.

Mioro’s commitment to continuous improvement has enabled it to thrive in key global markets, establishing itself as a leader and an important reference point in the field of gold jewelry production.


2. OUR COMMITMENTS

  1. HUMAN RIGHTS
    Mioro upholds the Universal Declaration of Human Rights and the UN Global Compact principles. We work to ensure:
    – Compliance with RJC COP and SRSP standards.
    – Respect for labor rights, diversity, and prevention of discrimination.
    – Annual risk assessments of human rights violations, including harassment and discrimination.Key Initiatives:
    – A comprehensive Human Rights Policy available on our website.
    – Continuous training for employees on diversity, inclusion, and human rights.
    – Monitoring and managing risks as per SRSP and OECD guidelines.

    B. SOURCING
    Mioro recognizes the importance of ethical and responsible sourcing of precious materials, ensuring compliance with OECD Due Diligence Guidance for conflict-free supply chains.

    Key Initiatives:
    – Adoption of the Mioro Supplier Code of Conduct, aligned with SRSP and RJC COP standards.
    – Mandatory compliance with Mioro’s Supplier Code of Conduct, which prohibits child labor, forced labor, and discrimination while ensuring fair wages and safe working conditions.
    – Annual supplier audits to ensure adherence to ethical and environmental standards.
    – Compliance with the OECD’s five-step framework for responsible supply chains.

    Risk Assessment:
    – All suppliers complete a detailed self-assessment covering certifications, CSR policies, and due diligence procedures.
    – Mioro’s internal teams review supplier responses to identify potential risks and establish corrective action plans where needed.
    – In 2024, no significant risks were identified in the supply chain under SRSP.


C. ETHICAL BUSINESS PRACTICES

Mioro integrates SRSP and RJC COP standards into its ethical framework, emphasizing integrity, transparency, and responsible operations.

Key Actions:
– Anti-Money Laundering (AML) and Know Your Customer (KYC):
– Robust processes to ensure compliance with SRSP anti-corruption and anti-terrorism financing measures.
– Whistleblower Policy:
– Secure reporting channels for ethical violations, accessible to employees and stakeholders.
– Internal Controls:
– Annual risk mapping and mitigation strategies to address workplace safety (ISO 45001), environmental impacts (ISO 14001), and data security (ISO 27001).


3. SUSTAINABLE DEVELOPMENT OBJECTIVES

Environmental Performance:
– Compliance with ISO 14001 standards for environmental management.
– Reduction of CO2 emissions and waste through efficient manufacturing processes.
– Implementation of renewable energy solutions at Mioro facilities.

Circular Economy:
– Recycling of precious metals and use of alternative materials to reduce environmental impact.
– Encouraging suppliers to adopt circular economy principles as part of SRSP compliance.

Transparency and Traceability:
– Full alignment with Signet SRSP and OECD Due Diligence Guidance for conflict-free supply chains.
– Enhanced traceability of gold and diamonds through blockchain-enabled tracking systems.


4. SOCIAL RESPONSIBILITY

Employee Well-being:
– Comprehensive health and safety measures, audited under ISO 45001.
– Comprehensive Quality Management measures, audited under ISO 9001.
– Ongoing training programs to improve skills and promote diversity and inclusion.

Community Engagement:
– Partnerships with UN Women’s Empowerment Principles (UN-WEPs)

Mioro is a proud supporter of the United Nations Women’s Empowerment Principles (UN-WEPs). We are committed to fostering gender equality and empowering women across our supply chain and within our communities. This includes:

Ensuring equal opportunities for women in leadership, employment, and supplier engagement.

Promoting gender-sensitive workplace policies and practices throughout our supply chain.

Collaborating with suppliers to implement initiatives that support women’s economic empowerment.
– Active participation in projects aimed at empowering local artisans and fostering economic growth.


5. FINANCIAL PERFORMANCE

Allocation of 5% of annual revenue to sustainability projects.
Consistent financial growth, driven by ethical sourcing and responsible business practices.


6. GOVERNANCE AND COMPLIANCE

Mioro’s governance policies align with SRSP, RJC COP, and ISO standards:
– External audits to maintain certifications and ensure transparency.
– Supplier agreements mandating adherence to SRSP and Supplier Code of Conduct.
– Risk management systems to monitor and mitigate ethical and operational risks.


7. FUTURE GOALS

Short-Term Goals (1-3 years):
– Reduce carbon emissions by 20% through renewable energy initiatives.

Long-Term Goals (5-10 years):
– Achieve RJC-COC (Responsible Jewellery Council Chain of Custody) Certification.
– Transition to a fully circular economy model in jewelry production.


8. GLOSSARY

– RJC COP: Responsible Jewellery Council Code of Practices.
– SRSP: Signet Responsible Sourcing Protocol.
– ISO 14001: Environmental Management Standards.
– AML/KYC: Anti-Money Laundering / Know Your Customer.
– OECD: Organization for Economic Cooperation and Development.

Date:  January 7, 2025.

İLYAS GENÇOĞLU

CHAİRMAN

Mioro Hediyelik Eşya San. Ve  Tic. A.Ş.