Consumer awareness is on the rise, the climate crisis is at our doorstep, and corporate responsibility is taking center stage—all of these factors are driving the jewelry industry to embrace sustainability. Organizations are pushing for greener practices across the jewelry supply chain, making sustainable luxury the new standard. But how are brands actually making this transformation happen?
Luxury Brands Join Forces to Build a Greener Future
The Watch & Jewellery 2030 Initiative (WJI 2030), founded by Kering Group and Cartier under Richemont, is leading the way. This global initiative brings together watch and jewelry brands, industry associations, and key stakeholders to create significant change in three major areas: climate resilience, natural resource conservation, and inclusivity.
By the beginning of 2024, the initiative will focus on integrity, transparency, traceability, and circularity. WJI 2030 Executive Director Iris van der Veken emphasizes that this effort will require a collective push from the entire industry. "The jewelry industry is intimately tied to aesthetics and emotions, which means we bear a dual responsibility of 'nurture and action,'" she said.
Van der Veken added that the jewelry industry must rethink the entire product lifecycle—from design to post-sale services—and explore circular business models. "Despite the complexity of sustainability in supply chains, greater collaboration and sharing of best practices can significantly accelerate progress," she stated.
Game-Changing Achievements in 2023
In 2023, WJI 2030 made great strides, including creating a cross-sector governance framework, securing commitments from 15 member companies to the Science-Based Targets Initiative (SBTi), and launching the "Nature Primer," which provides a roadmap for the industry to contribute to a "nature-positive" world. The initiative also partnered with UN Women to promote gender equality in procurement practices and launched a "Human Rights Navigator" tool to help members better understand relevant regulations.
To prevent greenwashing and enhance credibility, Van der Veken said WJI 2030 will set key performance indicators (KPIs) based on established sustainability reporting frameworks like those from the Global Reporting Initiative (GRI) and the Task Force on Nature-related Financial Disclosures.
Raising the Standard for Responsible Jewelry
The Responsible Jewellery Council (RJC) has also been instrumental in making sustainable jewelry a mainstream concept. In June 2023, RJC, the Gemological Institute of America (GIA), and Harvard University's Mineralogy and Geology Museum co-hosted the "State of the Art Summit." Led by three women, the summit brought together experts, artists, RJC members, and other industry stakeholders to discuss how the jewelry industry can manage energy transitions and convey the importance of responsible practices to young people entering the industry.
Melanie Grant, RJC Executive Director, noted, "We've made substantial progress over the past 16 years, but we’re committed to continually transforming and leading market development." The RJC has also set new standards for lab-grown gemstones.
Supporting Sustainable Mining Communities
Organizations like Diamonds Do Good (DDG) and the International Colored Gemstone Association (ICA) are also making an impact through initiatives like "Gems Keep Giving." This program aims to improve the quality of life and boost income for mining communities in developing countries that rely on artisanal mining and gemstone cutting.
The Gems Keep Giving initiative provides clean water, safe working environments, and opportunities for sustainable growth. ICA CEO Douglas Hucker emphasized, "Our goal is not just to offer short-term benefits but to work closely with miners, cutters, and their families to empower them for sustainable development and lasting change."
Helping Small Businesses Embrace ESG
Small and medium-sized enterprises (SMEs) are also being encouraged to enhance their ESG (Environmental, Social, Governance) practices, with the WJI 2030 framework serving as a guide to ensure consistency in KPI reporting. Van der Veken stressed the importance of transparency in SMEs, especially since they play a crucial role in the jewelry value chain.
"Luxury brands see sustainability not just as compliance but as a business strategy, and SMEs can follow suit by focusing on topics most relevant to their operations," Van der Veken explained.
ESG reporting tools like ESG Book are available to help simplify the process for small businesses. "ESG Book enables companies to manage and share their sustainability data with stakeholders and investors," Van der Veken said. By working with organizations that provide ESG roadmaps, small businesses can effectively communicate their commitment to responsible business practices.
The Jewelry Industry's Green Revolution
The jewelry industry is making significant progress in sustainability, but the road ahead requires collaboration, transparency, and innovation. As consumers demand more responsible practices, the entire value chain—from big luxury brands to small mining communities—is stepping up. This isn't just a trend; it’s the future of jewelry—a future where luxury, beauty, and sustainability go hand in hand.