On June 30, 2023, the European Commission enacted the first set of ESG regulations that eventually will require all companies to assess and disclose the environmental, social, and governance (ESG) factors that influence their impact on climate-related financial risks, sustainable business practices and compliance with regulatory standards. According to the EC’s Corporate Sustainability Reporting Directive (CSRD), on January 1, 2025, companies would become obliged by law to track and collect ESG data if they meet two of the three following criteria – 250 employees, €50 million in revenues, or €25 million in balance sheet (reporting year 2026). On January 1, 2026, the requirement will be extended to SMEs with 10-250 employees, covering much of the jewellery industry.

CIBJO has been working for more than two years to provide support to the jewellery industry meet new ESG regulatory requirements. In January 2024, it released a guidance document, accounting for the specific needs of small and medium-sized enterprises. The document presented 14 specific principles, five of which relate to environmental policy, four to socially responsible policies, and five to governance. The seminar in Vicenza reviewed the CIBJO guidance, as well as the ESG work that has been done since then, including in the introduction of measurable benchmarks that can be applied by the jewellery industry.

The seminar, which took place on January 18, 2025, at the VicenzaOro January Show in Vicenza, Italy, was moderated by Wesley Hunt, Director, Programme Management, De Beers Consumer & Brands. Panellists included Jon Key, Founder & Managing Director, Key and Co. Ltd.; Helen Mitchell, ESG and Social Responsibility Consultant, CIBJO; and Raluca Anghel, Head of External Affairs and Industry Relations, Natural Diamond Council.

The event was hosted by VicenzaOro’s organiser, the Italian Exhibition Group (IEG), and is part of a joint CSR and sustainability educational programme for the jewellery industry, presented by CIBJO and IEG, which has been recognised by the Economic and Social Council (ECOSOC) of the United Nations.