The Natural Diamond Council (NDC) has released its 2023 analytical report, Diamond Facts: Addressing Myths And Misconceptions About The Diamond Industry. The report aims to promote transparency and address misinformation about both natural and synthetic diamonds.
David Kellie, CEO of the NDC, stated that the organisation wants to support consumers in making informed decisions by providing transparent information. The report highlights several common misconceptions about the diamond industry, including the fact that laboratory-grown diamonds can be detected from natural diamonds, not all laboratory-grown diamonds are sustainable, and natural diamonds are inherently rare.
One of the most interesting facts revealed in the report is that the manufacturing of laboratory-grown diamonds can require temperatures similar to 20% of the temperature of the sun’s surface. This shows the environmental impact of lab-grown diamonds and debunks the myth that they are a more sustainable option, the report indicates.
The report also emphasises that ethical sourcing is a priority for the natural diamond industry. Under the Kimberley Process, rough diamond trading is strictly regulated to ensure it is conflict-free. Brands, retailers, and jewellers are increasingly implementing ethical sourcing protocols and policies, bringing transparency to their supply chains.
The report shows that natural diamonds benefit the countries from which they originate and support the livelihood of 10 million people worldwide. Up to 80% of rough diamond value remains with local communities in the form of local purchasing, employment benefits, social programs, investment in infrastructure, as well as taxes, royalties, and dividends paid from the industry to respective governments.
The NDC report’s findings were derived from a thorough review of a wide range of secondary research conducted by globally respected third-party organisations, industry experts, and independent sustainability advisors.