#CIBJOCongress2023 Insights: Transparency crucial to build consumer trust for lab-grown diamonds

Fostering collaboration among industry, government and non-profit entities is pivotal to enhance sustainability, transparency and environmental responsibility in the lab-grown diamond category for an eco-conscious future, expressed experts from CIBJO’s Lab-grown Diamond Committee

In a thought-provoking session, the Laboratory-Grown Diamond Committee at the CIBJO Congress 2023 held recently in Jaipur, India, unveiled essential strategies to foster a more sustainable and socially responsible jewellery industry. Wesley Hunt, Director of Programme Management at De Beers Group, chaired the discussion with other panelists including Raluca Anghel, Head of External Affairs & Industry Relations at Natural Diamond Council; Helen Mitchell, ESG Strategist with CIBJO and John Key, ESG Consultant with CIBJO.

The dialogue offered invaluable insights into environmental, social and governance (ESG) principles aligned with the lab-grown diamond production practices aligning with United Nation’s Sustainable Development Goals (SDGs) for the betterment of the jewellery industry of natural diamonds and lab grown diamonds.

Understanding the ESG-SDG nexus

One of the focal points of the committee’s deliberations was the crucial alignment of ESG principles with the 17 SDGs. John Key introduced an innovative wheel model for pragmatic categorisation and application of ESG principles. He highlighted the pivotal role of a safe and respectful workplace in upholding human rights and overall well-being within the industry.

Championing sustainability

Helen Mitchell underscored the significance of integrating social responsibility within the industry. She stressed the need for organisations to adopt a lifecycle mindset, promoting awareness and circular business practices as integral steps towards achieving social responsibility. This approach entails the careful management of products from their creation to disposal, encompassing responsible waste management, reducing environmental impact, and employing ethical packaging methods. Further, Helen highlighted the importance of fostering social responsibility by engaging in internships and educational initiatives to equip younger generations with the necessary skills.

Upholding human rights

John Key reiterated the necessity of establishing safe, healthy, and respectful workplaces. Prioritising worker health, fair pay, and ethical employment practices were the cornerstones of this endeavour. Simple yet impactful measures such as initiating safety moments during meetings were mentioned. Agreeing with Key, Raluca Anghel underlined the need to clarify and define terms such as ethical, responsible, and sustainable actions to unify industry communication.

In the session, Key emphasised the importance of education and awareness-raising about established ESG principles to enlighten industry stakeholders about their roles in promoting sustainability and social responsibility within the sector.

Collaboration for a responsible future

When we talk about creating a responsible future, it is important to foster collaborative effort and initiatives between industry players, governmental bodies, and non-profit organisations that help attain industry-wide benchmarks together. These discussions by the CIBJO Congress 2023 Laboratory-Grown Diamond Committee marked a pivotal step in underscoring dedication to sustainability and responsible practices for a brighter future for all stakeholders.

[This article is part of a series of insights from The World Jewellery Confederation (CIBJO) Congress 2023, Jaipur]

Written by Maithili Patange

Retail Jeweller World Exclusive