April 22, 2023
Ethical Sourcing and Sustainability in the Diamond Industry
Ethical Sourcing and Sustainability in the Diamond Industry
A deep dive into Diamond Exchange's commitment to ethical sourcing and sustainable practices, and how to make informed choices when purchasing diamonds
At Diamond Exchange, we celebrate the beauty and strength of diamonds - the oldest and most durable material on earth. This enduring quality of diamonds is especially perfect in representing the long-lasting love story of you, our clients.
With our pledge of promoting ethical sourcing and sustainability in the diamond industry, explore our commitment to ethical sourcing and sustainable practices -and how you can make informed choices when purchasing diamonds.
Ethical Sourcing: What it means and why it matters
Ethical sourcing is the practice of ensuring that diamonds are mined and processed with minimal impact on the environment, and have been mined or created by people benefiting from fair and safe working conditions.. This means that the diamonds we sell are not involved in conflicts or child labor, and that workers are treated fairly and paid a fair wage. We also ensure that our diamonds are mined with the least environmental impact possible. We achieve this by partnering with a selective network of suppliers, manufacturers, and artisans around the world to create your jewellery, and we always aim to be as transparent as possible throughout the process. We also believe that using sustainable materials makes your jewellery all the more meaningful for our clients, who receive the pleasure of wearing and loving their pieces daily.
This is what we mean by an “ethically sourced” ring. It’s a piece of jewellery that’s been crafted with materials specially chosen for their provenance and origin, qualities that are determined against a set of ethical standards.
Why Sustainability is crucial for the diamond industry
As well as protecting the environment; sustainability is about ensuring that the diamond industry continues to practice and thrive for many generations into the future. This includes a commitment to reducing our carbon footprint, minimising waste, and using sustainable materials wherever possible.
We partner with countries that have a good reputation within the industry of having the most ethical and fair working practices, such as South Africa, Namibia, Canada, and Botswana - who produce a large portion of the world’s rough mined diamonds.
How Diamond Exchange Ensures Ethical Sourcing and Sustainability
At Diamond Exchange, we take ethical sourcing and sustainability seriously. Here are some of the ways we ensure that our diamonds are sourced ethically and sustainably:
- We only work with reputable suppliers who share our commitment to ethical sourcing and sustainability.
- We verify the origin of all our diamonds to ensure that they are from conflict-free economies, and in respect of protecting child and human rights
- We use recycled gold in our jewelry wherever possible to reduce our environmental impact.
- We work closely with our suppliers to ensure that they meet our strict standards for ethical sourcing and sustainability
- We regularly review our practices and processes to ensure that we are always improving and finding new ways to be more sustainable
Lab-Grown Diamonds – An Alternative
Lab-grown diamonds—also known as ‘synthetic’ or ‘cultured’ diamonds—are made in laboratories to be physically and molecularly identical to a natural diamond that is mined from the earth.
What is great about growing a diamond in this type of regulated setting is that it leaves the earth undisturbed by mining, and there is little material waste created in the process. Diamond-producing labs provide a comparatively transparent diamond supply chain as they can be easily monitored for fair working conditions.
With requests for lab created diamonds increasing due to their reputation for affordability and sustainability, it’s important to note that while both lab-grown and natural diamonds have their own strengths in terms of environmental conservation, they both have their shortcomings.
While there are diamond laboratories that use solar energy to produce the stones, some labs burn substantial amounts of fuel and energy to create the diamonds. As a result of the high emissions of certain producers, lab-grown diamonds can have a similar impact on the earth as diamond mining, thus making it difficult to definitively conclude which type of diamond is more ethical or sustainable than the other.
This is why at Diamond Exchange we offer both types of stones, and prefer to educate our customers on the benefits and the drawbacks of both lab-grown and natural diamonds so that you can make the choice that feels best for you.
How You Can Make Informed Choices When Purchasing Diamonds
As our client, you can make a difference by choosing to buy diamonds that are sourced ethically and sustainably. Here are some tips to help you make informed choices when purchasing diamonds:
- Find out about our sourcing practices and our commitment to ethical sourcing and sustainability
- Consider purchasing a lab-grown diamond, which can have a much lower environmental impact than mined diamonds
- Working with jewellers like Diamond Exchange who, with our made-to-order business model. have a zero-wastage approach, and use recycled gold and other sustainable materials in their jewellery
At Diamond Exchange, we are committed to the ethical sourcing and sustainability of all our diamonds. We believe that by working together, we can create a more sustainable future for the diamond industry and of course, our beautiful earth. As our valued consumer, you can make a difference by choosing diamonds that are sourced ethically and sustainably. By doing so, you can be sure that your purchase is not only beautiful, but also making a positive impact on the world. That way, your new beloved pieces can make you feel comforted knowing that it is not harming the world.
With the diamond industry faced with the challenge of finding the most energy efficient way to produce quality diamonds at scale, we will be transitioning towards offering lab-grown diamonds produced with mostly if not only renewable energy.
As we continually strive to be 100% transparent about the jewellery we make, we want to be a part of the movement towards a higher standard for sustainability and ethics in the diamond industry. We believe that true love should be positive and pure, making us strive to be the best versions of ourselves, and this is no different for our standards in sustainability.