The Diamond Producers Association (DPA) wants to further cut greenhouse emissions resulting from diamond mining, which currently stands at 160 kg of carbon dioxide equivalents per polished carat.
The report also claimed that CO2e generated from lab-grown diamond production is approximately three times greater than that of natural diamonds at 511 kg of CO2e per polished carat.
These are some of the findings of “The Socioeconomic and Environmental Impact of Large-Scale Diamond Mining,” the world’s first comprehensive analysis of the impact of large-scale diamond mining on local communities. The report, authored by Trucost ESG Analysis, also identifies areas for further improvement.
DPA is a group of major diamond miners, representing 75 percent of global diamond production.
According to the report, DPA members generate more than US$16 billion in net socioeconomic and environmental benefits through their diamond mining operations.
Majority of these benefits are infused into communities through local employment, sourcing of goods and services, taxes and royalties, social programmes and infrastructure investment. The report also said DPA members pay employees and contractors on average 66 percent above national average salaries and that companies focus extensively on employee training to ensure a highly skilled workforce.
“This report marks an industry first. Diamond producing companies representing three quarters of the world’s production have come together to provide a window into the impacts and benefits of their activities on the communities and environments of the countries and regions in which they operate,” said DPA CEO Jean-Marc Lieberherr. “This independent research report breaks outdated stereotypes and misconceptions and identifies the next set of challenges that must be met to continue to evolve and improve as an industry. It also provides a baseline for industry participants and observers to track future progress.”