David Brough shares key takeaways from the 2024 CIBJO World Jewellery Confederation Congress held from 2-4 November 2024, in Shanghai.
At the recently held CIBJO World Jewellery Confederation Congress, the need to clearly differentiate between laboratory-grown and natural diamonds was reiterated.
The CIBJO Laboratory-Grown Diamond Committee once again emphasized that all traders dealing in both types of diamonds must unambiguously distinguish between the two, to provide consumers with clear information about their buying choices.
Laboratory-grown diamonds (LGDs) 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 congress plenary session. The United States currently accounts for some 75% 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, Hunt said. Both products should not make any unsubstantiated sustainability claims.
Terminology for LGDs 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 LGDs: “laboratory-created diamonds”, and “synthetic diamonds.” However, terms such as “real diamonds” and “eco-friendly diamonds” should not be used, Hunt said, adding that CIBJO welcomed any refinement considerations to the LGD guidelines, and for contributions from LGD 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 LGD companies 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 LGD 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.
John Key spoke of the importance of measuring impact in order to gather data to monitor the success of moves towards sustainable development by LGD jewellery businesses.
He said he was considering delivering online teaching to help companies on their path towards greater sustainable development.
CIBJO’s Diamond Commission reported on work currently being done to ensure that accurate information is being provided when disclosing whether a diamond is treated or laboratory grown, in order to protect consumers.
Speaking during the commission’s session at the 2024 CIBJO Congress, Raluca Anghel of the Natural Diamond Council (NDC), spoke of the importance of the correct use of diamond terminology and disclosure across the jewellery trade.
“We don’t have a lot of consumers who see the differences between natural diamonds and laboratory-grown diamonds,” she said. “Consumers need to understand these differences.”
The significant price differences that have opened up between natural diamonds and LGDs reinforce the need for correct disclosure to protect consumers, Anghel said.
The CIBJO Diamond Blue Blook is a vital tool in determining the correct use of the terms for synthetic diamonds, laboratory-grown diamonds and laboratory-created diamonds, she added.
“The Natural Diamond Council focuses a lot on driving marketing efforts and supporting brands and designers in bringing content to consumers. But where we see consumers affected by incorrect disclosure, we act,” Anghel said.
The NDC has sought to protect consumers by reporting to the relevant authorities any inappropriate use of diamond terminology in retail around the world.
In the United Kingdom, for example, Skydiamond advertisements were banned because of misleading claims about the nature of their synthetic gems, following a ruling by the UK’s Advertising Standards Authority after a complaint was lodged by the NDC.
Skydiamond had used terms such as “real diamond” to describe laboratory-grown diamonds.
Planned EU silver classification to state possible reproductive health risk linked to silver
A new classification of silver under upcoming EU regulations which state a possible risk to the sexual and reproductive health of humans from handling the precious metal, risks causing “image damage” for silver in the public perception that will raise a requirement for effective communications by the industry, the CIBJO, World Jewellery Confederation, Precious Metals Commission reported during its session on the final day of the CIBJO Congress.
The new classification of metallic silver under EU regulations will take effect from May 1, 2026.
No new restrictions will be required, but companies using silver in their processes are expected to incur additional costs for administrative matters, such as the obligation to draw up safety sheets. Labour protection must be adapted accordingly.
Classifications, labelling and packaging of individual products must be reviewed and adapted.
“Possible ‘image damage’ for silver in the public perception: counteract by informing customers, association work,” Karina Ratzlaff, a Precious Metal Commission Vice President, said in a presentation to the CIBJO Congress.
Separately, the International Organization for Standardization (ISO) is considering a new proposal to update the definition of recycled gold that should be published in the first half of 2025, the CIBJO Congress heard.
A concern in the industry has been manufacturers sending back gold scraps from a given mine for recycling.
“Any gold traceable to a mine and segregated can keep the mined gold typology,” Jonathan Jodry, who specialises in ISO standards, said in a presentation to the CIBJO Congress.
The proposal will create sub-categories for recycled gold that are usable by the market, but not mandatory.
“This standard will benefit everyone – it will make the standard cleaner,” Jodry said in a presentation of the ISO Standards.
Special panel at CIBJO Congress assesses impact
of geopolitics and government policies on jewellery industry
A special panel on the opening day of the CIBJO Congress in Shanghai, moderated by UK-based Jewellery Outlook Editor David Brough, looked at how geopolitics and government policies impact the jewellery industry, and considered how industry can participate in the formulation of such policies and respond to growing government oversight.
The panellists addressed how events of geopolitical significance, such as the wars in Ukraine and the Middle East, as well as factors like falling US interest rates, and Central Bank buying, had buoyed gold prices, and how jewellers had responded, for example by manufacturing more lightweight designs through technologies such as electroforming.