A Golden Racket: The true source of Switzerland’s “Togolese” gold
The true story behind the “Togolese” gold that is refined in Switzerland once again demonstrates that companies’ voluntary measures fail to prevent human rights abuses. On the one hand, the Federal Council has recognised the risks associated with the gold sector and has stressed the importance of improving standards of quality in relation to transparency and responsibility. Yet despite this growing awareness, not enough is being done to prevent gold associated with corruption, environmental damage or human rights violations being imported into Switzerland.
To counteract such scandals, together with over 100 Swiss NGOs, Public Eye launched the Responsible Business Initiative in April 2015. It aims to oblige companies headquartered in Switzerland to ensure that their activities neither directly nor indirectly cause human rights violations or environmental damage.
With this research, Public Eye managed to get the Council of States to accept a postulate from Senator Luc Recordon, calling on the Federal Council to produce a report on how to prevent the import to Switzerland of gold if human rights were violated to produce it.
- Report: "A Golden Racket - The True Source of Switzerland's 'Togolese' Gold" (2015)
- Executive summary: "A Golden Racket: The True Source of Switzerland‘s 'Togolese' Gold – A Public Eye Investigation" (2015)
- Special edition of the Public Eye magazine: In German (Ein goldenes Geschäft) or French (Un filon en or), (2015)
- Infographic: Switzerland’s “Togolese” gold supply chain, (German or French)
- Press release: Largest Swiss refinery purchases gold extracted by children (9.9.2015)
Reaction to the report:
- BD comments on Valcambi statement of 12 September 2015