World Federation of Diamond Bourses (WFDB) president Ernie Blom has praised the release of the ISO International Standard 18323, titled ‘Jewellery – Consumer Confidence in the Diamond Industry’.
The WFDB was directly involved in formulating the Standard, which includes a series of definitions that aim to provide clarity for traders and to maintain consumer confidence in the diamond industry as a whole.
The ISO ruling defines a diamond as something that was “created by nature”, it also says that “the denomination ‘diamond’ without further specification always implies ‘natural diamond”.
See Blom’s full statement below:
“The importance of this standard lies in the fact that it sets out which nomenclature can be used and which cannot in the purchase and sale of diamonds, treated diamonds and synthetic diamonds.
“As ISO says: ‘ISO 18323:2015 will cover the nomenclature to be used by those involved in the buying and selling of diamonds, treated diamonds, synthetic diamonds, composite diamonds and imitations of diamonds.’
“ISO notes very clearly the issues that the WFDB has been emphasizing for some time: the need for integrity and transparency to ensure that consumers have total confidence in our products.
“Buyers do not usually have the technical knowledge to understand the many aspects of diamonds and so they are reliant on correct and honest labeling.
“Regarding synthetic diamonds, which is a critical issue for the diamond business, the ISO standard sets out descriptions for synthetic diamonds plainly and precisely. It points out the growth in production in recent years, and that lab-grown diamonds have essentially the same chemical and physical (including optical) properties as a natural, mined diamond. We have long pointed out the importance of consumers knowing exactly what type of diamond is being offered to them, and this new standard confirms this.
“I am delighted that the Chairman of the Technical Committee that oversaw the formulation of ISO International Standard 18323 is none other than Harry Levy, President of the London Diamond Bourse.”