De Beers latest Diamond Insight Report has shown that the company has serious ambitions when it comes to making its operation more sustainable.

This time in partnership with the Responsible Jewellery Council (RJC), the latest report focuses on sustainability in the diamond industry.

De Beers Group CEO, Bruce Cleaver, said in his introduction to the report: “Sustainability has risen to the top of many stakeholders’ priorities in the last few years, not least those of consumers.

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“People expect more of businesses and brands than ever before when it comes to responding to societal and environmental challenges such as climate change, poverty and various forms of inequality.

“Operating responsibly is now the baseline of consumer expectations. However, beyond knowing that their purchase has caused no harm, people also want to know what a brand or product stands for, and how it has contributed to a better future for people and the planet.

“There is plenty of evidence that the Covid-19 pandemic has only accelerated this
trend as people see more clearly than ever how we are all interconnected and that what happens in one part of the globe can have rapid and far-reaching consequences elsewhere.”

Exemplifying the ever-growing importance of sustainability in luxury, the report reveals that jewellery ranks third after only food and clothing as the category most frequently purchased on the basis of sustainability considerations.

Cleaver responded: “When it comes to diamonds, sustainability-conscious consumers are increasingly prepared to pay a premium to have this assurance, and are increasingly prepared to disengage with the category without such assurance being
available.

“These findings highlight that sustainability is more than the right thing to do; it is critical to maintaining consumer desire, trust and loyalty.”

The CEO concluded by saying that De Beers Group will be “continuing to invest in tools and technologies which provide consumers with evidence of the assurance they are seeking, including through provenance and traceability programmes.

He added: “We have much to be proud of and should celebrate our collective progress, while acknowledging that sustainability is an ongoing journey.

“I have every confidence the diamond industry will continue to take the steps to ensure it is recognised as a sustainability leader in the eyes of all our stakeholders.”

To find out how De Beers and the RJC believe the industry can go about achieving this, read the full report.