Sustainability Across The Diamond Industry

Over the last few years it has become clear that Laboratory Grown Diamonds are here to stay.  There has been a lot of research carried out to understand what drives sales of both natural diamonds and laboratory grown diamonds and what is important to the consumer.

Whilst many people believe that the laboratory grown diamond market is where the consumer looks at sustainability, it is clear that there has been much progress made in also ensuring that this is the case across the natural diamond market. 

A report which was produced by DeBeers, Sustainability: Shaping The Future Of The Diamond Sector shows that sustainability is now on a par with price and design, when consumers choose diamonds.  This trend is being led by younger consumers who value evidence of sustainability credentials.

Specifically looking at the Natural Diamond Industry, the report takes an indepth look at the topic of sustainability and was based on a study of more than 8,400 people across a number of key consumer markets for diamonds.  This showed that 60% of consumers, and more than 80% of opinion leaders (those who influence decisions of friends and family) have chosen to buy a product made in a more environmentally or socially responsible way, over any other product.

Sustainability was ranked by 30% of consumers as their most important consideration, above price and design when choosing a diamond.

The top 5 sustainability considerations for diamond consumers in the study, were:

1. Protection of the environment
2. Fair worker treatment
3. Conflict free sourcing
4. Supporting local communities
5. Diamond origin

The full report can be found at https://www.debeersgroup.com/reports/insights/the-diamond-insight-report-2020

There are a number of organisations who are championing the industry and putting sustainability at the forefront of their agendas.

The Responsible Jewellery Council is working with many organisations across the industry to showcase, improve and encourage sustainability.  They believe that companies that are united by a shared belief that responsible business is good business, by working together will create a globally sustainable future for the industry.

The mission of the Natural Diamond Council is to advance the integrity of the modern diamond jewellery industry and inspire, educate and protect the consumer. 

It is important to understand that consumers have options when purchasing diamonds.  There are those who feel that laboratory grown diamonds are more sustainable, and those that want to purchase natural diamonds, but feel that sustainability also forms an important part of their purchasing decision.  The key thing is that any consumer purchasing diamonds is making an informed decision and understands the value of their purchase. 

Diamond Verification Services is a completely independent organisation owned by Sheffield Assay Office. Offering state of the art technology we help our customers buy and sell diamond products with complete confidence, and provide a quick and easy process to confirm a diamond's true origin. For more information about how Diamond Verification Services can help you as a retailer or purchaser, please contact us on email at info@diamondverificationservices.co.uk or call +44 (0)114 2312121.