CIBJO and IGDA collaborate to safeguard consumer confidence in the jewellery industry

MOU signed on June 25, during the National Association of Jewellers’ (NAJ) Summit in Birmingham

In a move aimed at protecting consumer confidence in the jewellery sector, the World Jewellery Confederation (CIBJO) and the International Grown Diamond Association (IGDA) have signed a Memorandum of Understanding (MOU) to work together in developing transparent standards, operating principles and terminology for the industry.

The MOU was signed on June 25, 2023, during the National Association of Jewellers’ (NAJ) Summit in Birmingham. Gaetano Cavalieri, President of CIBJO, and Joanna Park-Tonks, President of IGDA, formalized the agreement, marking a crucial step in fostering consumer trust in jewellery.

Under the agreement, IGDA will become a member of CIBJO’s Laboratory Grown Diamond Committee, with representation from Park-Tonks. The committee, led by Wesley Hunt of De Beers, has already developed a Laboratory Grown Diamond Guidance document. This document aims to establish universal trading and handling practices for laboratory-grown diamonds, ensuring their authenticity and enabling informed purchasing decisions by consumers.

Dr Cavalieri said, “Over the past several years, the laboratory-grown diamonds sector has grown into a large and a prominent part of our industry, and we all have a vested interest in each other’s success.”

Park-Tonks noted, “This sends a clear signal to the global jewellery industry to set personal agendas and egos aside, placing the consumer and their best interests at the heart of our work. We all agree that a strategy of deriding natural diamonds or laboratory-grown diamond products is not conducive to consumers’ understanding of either sector.Together, we are stronger and we jointly acknowledge the necessity of communicating clearly, honestly and transparently.”

One of the current focal points of CIBJO’s Laboratory Grown Diamond Committee, and an area of discussion between CIBJO and IGDA, is the accurate presentation of sustainability issues. Addressing these matters requires collaboration and leadership from across the industry.

“We are sensitive to the issue of ‘greenwashing,’ which can mislead consumers about the environmental impacts of LGDs when unsubstantiated by evidence,” stated Vivien Johnston Glass, IGDA’s Sustainability Chair and a sustainability consultant.

Courtesy: GJEPC