Sustainability in the diamond industry

To everybody’s surprise, the diamond industry has really now been the forerunner of ethical and environmental practices after becoming one of the closest regulated luxury sectors. Not a lot of people would know this but a whopping 85% of the world's natural diamonds are extracted by sustainable mining practices and marketed by sustainable mining businesses. There’s a high level of transparency involved and diamond conglomerates are not shy of taking responsibility for the societal and environmental impact of their businesses.

 

What do sustainable practices really mean and cover?

Gender Equality- Ending all discrimination against women is not only a fundamental human right, but it's also crucial for a sustainable future. Women are a very important part of the chain and their rights are now being recognised.

Environmental Impacts- There are many initiatives in the diamond industry, especially by mines, to protect and flourish the environment around them. A classic case would be Alrosa's protection of the majestic reindeer of Siberia.

Human Rights- The biggest diamond mines have been a source of conflict since time unknown. Diamond companies are now required to respect basic human rights and avoid contributing to conflict through their sourcing methods.

Community Development- Diamond mines have the power to bring social opportunities to the communities in which they operate.
It would be a great idea for the government to invest proceeds from the mines back into the country and its communities.