Meeting at the 2024 CIBJO Congress in Shanghai, the CIBJO Laboratory-Grown Diamond Committee once again noted the requirement that all traders dealing in laboratory-gown and natural diamonds clearly and unambiguously differentiate between two in order to inform consumers clearly about their buying choices.

Laboratory-grown diamonds will be a key part of future consumer choice, expanding in markets beyond the United States, Wesley Hunt, Chair of the Laboratory-Grown Diamonds Committee, told the CIBJO Congress plenary. The United States currently accounts for some 75 percent of total global LGD demand.

It will be important for both natural and laboratory-grown diamonds to continue to operate as separate market segments without looking to harm or disparage the other, Mr. Hunt said.

Both products should not make any unsubstantiated sustainability claims.

Terminology for laboratory-grown diamonds is extremely important to accurately inform the consumer about the product, said Raluca Anghel, Head of External Affairs and Industry Relations at the Natural Diamond Council.

The following terms can be used to describe laboratory-grown diamonds: “laboratory-created diamonds”, and “synthetic diamonds.” However, terms such as “real diamonds” and “eco-friendly diamonds” should not be used, Mr .Hunt said.

Mr. Hunt said that CIBJO welcomed any refinement considerations to the LGD guidelines, and for contributions from laboratory-grown diamond trade bodies in the United States, China and elsewhere to re-ignite consumer confidence.

Separately, consultant John Key of Key & Co, supported by his colleague Helen Mitchell, presented to the CIBJO Congress plenary a toolkit to help laboratory-grown diamond businesses on their ESG journey.

With laboratory-grown diamond companies are at different stages of their journey towards greater sustainability, the toolkit, a “living document”, includes detailed diagrams showing which environmental, social and governance steps need to be taken by laboratory-grown diamond jewellery businesses to reduce waste and their carbon footprint, together with metrics that are applicable to the size and type of company involved.

A key objective of the blueprint is to help companies achieve sustainable profit growth.

Gaetano Cavalieri, President of CIBJO, said adoption of best practices was key to help companies boost the bottom line of their companies and make more money.

The toolkit, which is open to feedback from CIBJO members, is now a step closer to producing formal guidance before being turned into a CIBJO Blue Book, an official document for the jewellery industry. 

Mr Key spoke of the importance of measuring impact in order to gather data to monitor the success of moves towards sustainable development by laboratory-grown diamond jewellery businesses.

He said he was considering delivering online teaching to help companies on their path towards greater sustainable development