LGDC to create first sustainability standard in the diamond and jewelry market.May 22, 19
The Lab Grown Diamond Council (LGDC) has retained an internationally recognized third-party certifier and standards developer, SCS Global Services (SCS), to create the first sustainability standard in the diamond and jewelry market.
Certification to this premier standard will involve a comprehensive assessment of the lab grown diamond production process, compliance auditing, diamond testing, and traceability, and will result in the issuance of SCS Sustainably Grown Diamond certification mark. This consumer-focused mark will be geared toward point-of-sale messaging and advertising.
"As an industry, we recognize the high interest from consumers to be provided valid, third-party verification of the sustainability and origin of products they buy," said Chris Casey, LGDC president. "An important early initiative as an organization was to retain SCS to drive transparent reporting on the sustainability of the lab grown diamond market."
Like other sustainability standards in the marketplace, the new standard will address environmental stewardship, social responsibility, and economic viability. Notably, it will also establish a cutting-edge climate neutrality benchmark goal for participating companies, setting it uniquely apart.
"As consumers increasingly choose lab grown diamonds, they want to be sure that their choices match their values," said Stanley Mathuram, SCS vice president, headquartered in Emeryville, CA. "Certification to the Sustainably Grown Diamond standard will provide the scientifically robust reassurance that consumers are looking for, demonstrating company performance in meeting rigorous environmental and social requirements."
The development of the standard will involve input from a variety of stakeholders, and will ensure compliance with all governmental regulations, from both a technical and communication perspectives. Formal roll-out of the standard is expected by the beginning of 2020, at which time producers will be eligible to apply.
"Lab grown diamonds are uniquely positioned in the diamond and jewelry market to carry a sustainability standard," said Casey. "This standard will clearly set the benchmark for transparent reporting."
Once certified, individual companies will be able to use the Sustainably Grown Diamond label in communications to both the trade and consumer markets.