The World Jewellery Confederation (CIBJO) has released a new set of guidelines designed to help jewellery businesses measure their environmental, social, and governance (ESG) performance. This follows the publication of their initial ESG principles document last year, and expands on it by providing concrete measurement tools.
The “CIBJO Guidelines for Measuring ESG Performance,” developed by CIBJO’s Laboratory-Grown Diamond Committee in collaboration with Key & Co. and the Sustainable Development Commission, offers a framework applicable to various segments of the jewellery industry, from large corporations to smaller enterprises. Unlike the previous document, which focused on lab-grown diamonds, these guidelines are relevant to the entire supply chain.
The guidelines are structured around 14 ESG themes, each with multiple measurement areas and sample metrics. Recognising the diverse and fragmented nature of the jewellery industry, particularly the challenges faced by artisanal mining and SMEs, the document provides a practical 10-step approach for companies embarking on their ESG journey. A glossary of terms is also included to clarify potentially complex terminology.
CIBJO President Gaetano Cavalieri noted the significance of the guidelines, stating, “This is a very significant guidance document, which we are pleased to make freely available to all members of the industry.” He highlighted the growing trend of transforming ESG principles into legal obligations, citing the European Commission’s recent ESG regulations as an example.
These regulations, set to take effect in 2027, will require many listed SMEs to disclose their ESG impact. Cavalieri stressed the importance of industry preparedness and positioned the guidelines as a crucial tool in that process.