Responsible Sourcing Newsletter

The London Platinum and Palladium Market (the “LPPM”), through its Responsible Sourcing Review Committee (the “RSRC”), announced the publication of Version 5 of its Responsible Platinum / Palladium Guidance (the “Guidance”) in November 2024.  

In October 2025, the RSRC announced that implementation of V5 would be mandatory for Assurance Engagements commenced on or after 1 January 2026.  From that date the LPPM Responsible Sourcing Programme (the “Programme”) is based on the Responsible PGM Guidance (“RPG”) and the new version is referred to as “RPG5”.

In the first quarter of 2026, however, we have received feedback from Assurance Providers and Refiners that some will require a Transition Year to fully implement the measures and requirements inherent in RPG5.

RPPG4/RPG5 TRANSITION YEAR

• Calendar 2026 (i.e. 1 January 2026 to 31 December 2026) will be a Transition Year during which Refiners MUST implement the requirements of RPG5. 
• During calendar 2026 the LPPM will accept Assurance Reports based on RPG4, for engagements covering transactions in 2025 
• The Guidance for RPG5 can currently be downloaded from the LPPM here: https://www.lppm.com/responsible-sourcing/guidance 
• RPG 5 is the first version of the Responsible PGM Guidance to feature rhodium.  Existing members of the Rhodium Sponge Accreditation List will receive a Certificate confirming their Responsible Rhodium Sourcing accreditation, once they have successfully completed an Assurance Engagement under RPG5.
• THE RSRC COMMENDS AND CONGRATULATES ALL REFINERS WHO HAVE ALREADY SUCCESSFULLY IMPLEMENTED RPG5 AND COMPLETED AN RPG5 ASSURANCE ENGAGEMENT.

AMENDED RPG5 – NOW CALLED RPG5.1

• The feedback received from Assurance Providers and Refiners during the first quarter of 2026 has led the RSRC to the conclusion that it must review the language of its RPG5 for inconsistencies and inaccuracies.  A revised version of the RPG5 Guidance, called ‘RPG5.1’, will therefore be made available, on the LPPM website, on or before 1 July 2026.  

ASSURANCE PROVIDER GUIDANCE

In collaboration with Assurance Services International (ASI) the RSRC has been reviewing and redrafting its guidance for Assurance Providers.  This process is close to completion, and the new guidance will, like RPG5.1 be published on the LPPM website on or before 1 July 2026.

THE RSRC INVITES ANY REFINER OR ASSURANCE PROVIDER WITH QUESTIONS ABOUT THIS NEWSLETTER OR ANY ASPECTS OF THE PROGRAMME TO CONTACT THE RSRC FOR CLARIFICATION.