A-Mark Precious Metals Launches Carbon-Neutrality Initiative in Partnership with the Prax Group
November 11, 2021 at 08:00 am EST
Share
A-Mark Precious Metals, Inc. has partnered with the Prax Group to offset greenhouse gas emissions (GHG) across A-Mark?s businesses, with mitigation efforts primarily focused on the purchase of sustainability/decarbonization offsets, referred to as Verified Emission Reductions, (VER). With the current carbon offsets in place, A-Mark?s A-M Global Logistics subsidiary, which represents substantially all of A-Mark?s carbon footprint, can now be considered 100% carbon-neutral. A-M Global Logistics is A-Mark?s Las Vegas, Nevada-based logistics and fulfillment center. Through its five-year agreement with the Prax Group, which has offices in London, Singapore, and Houston, A-Mark will purchase VER originating from reputable pre-vetted developers of sustainable projects supporting multiple decarbonization initiatives globally, including renewable energy, emissions reduction technologies, energy efficiency upgrades, reforestation, and carbon sequestration.
A-Mark Precious Metals, Inc. is a fully integrated precious metals platform. The Company offers an array of gold, silver, platinum, palladium, and copper bullion, numismatic coins, and related products to wholesale and retail customers. The company conducts its operations through three segments: Wholesale Sales & Ancillary Services, Direct-to-Consumer, and Secured Lending. The Wholesale Sales & Ancillary Services segment operates as a full-service precious metals company. The Company operates its Direct-to-Consumer segment through its wholly owned subsidiaries JM Bullion, Inc. (JMB) and Goldline, Inc. The Company operates its Secured Lending segment through its wholly owned subsidiary Collateral Finance Corporation, LLC (CFC). JM Bullion is an e-commerce retailer of precious metals and operates seven separately branded, Company-owned websites such as JMBullion.com, ProvidentMetals.com, Silver.com, GoldPrice.org, SilverPrice.org, BGASC.com, CyberMetals.com, and BullionMax.com.