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August 24, 2019

Diamond Miners Push Back on Ethics Claims

The major diamond miners have weighed in on the debate over which diamonds are more ethical, claiming their production uses less than one-third of the energy it takes to create a diamond in a lab. 

The operations of companies that make up the Diamond Producers Association (DPA) emitted an average of 160 kilograms of carbon dioxide (CO2) per 1-carat of polished diamonds produced in 2016, according to a study commissioned by the DPA and carried out by Trucost ESG Analysis, which is part of S&P Global. That compared to the estimated greenhouse gas emissions of 511 kilograms of CO2 for the average 1-carat lab-grown polished stone. 

A debate has ensued in recent years over which diamond is more environmentally friendly (or harmful), with many lab-grown-diamond companies claiming to have the greener product in their advertising. In April, the Federal Trade Commission (FTC) warned several synthetics producers against using claims such as “eco-friendly,” “eco-conscious” or “sustainable” without qualification. 

Read more about the pushback on ethical claims from the major diamond miners on the Rapaport website, online HERE

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