Lab diamonds, due to their unique production and processing methods, is a common challenge for our industry in areas such as energy consumption, emissions, low-carbon environmental protection, and how to achieve the sustainable development strategy proposed by the United Nations.
In terms of international trade, as the largest consumer market for lab diamonds, the United States and Europe have also put forward higher requirements for green and low-carbon. In March of this year, the European Council reached an agreement on the Carbon Border Adjustment Mechanism (CBAM), which will impose "carbon tariffs" in 2026; The United States is also planning "pollution import fees". These will have a profound impact on the industry. China announced to the world in 2020 that it will take stronger policy measures to achieve carbon peak by 2030 and carbon neutrality by 2060, which is the dual carbon target.
According to Euro-monitor data, in 2021, one-third of global consumers actively reduced emissions, and a quarter of people used carbon neutrality to offset emissions. Ecological anxiety forces consumers to seek ways to control their carbon emissions. Most environmentalist consumers are young and relatively affluent, which is a force that cannot be ignored this year.
In the 2022 Global Top 10 Consumer Trends, the main trends related to sustainable development are: pursuing environmental protection, pursuing self love, and urbanizing rural life.
In the global jewelry consumption market, cultivating environmentally friendly, low-carbon, ethical, and sustainable development in the diamond industry is a passport to enter the market, as well as an industry philosophy principle that coexists and develops alongside the natural diamond market.
Therefore, we can see that in April 2022, Lark&Berry, a global diamond cultivation company in the UK, announced the launch of a climate change project in collaboration with Swiss carbon capture startup Climeworks. For every 5000 pounds of diamond jewelry sold, over 65 kilograms of carbon dioxide can be removed from the atmosphere. American company Aether Diamonds uses carbon dioxide captured from the air to synthesize hydrocarbons and manufacture diamonds. The company claims that for every 1 carat of diamond produced, approximately 20 tons of carbon can be removed from the atmosphere, effectively offsetting the average 1.25 year carbon footprint of American consumers.
The world today is facing unprecedented changes, and under global climate change, no individual can stand alone. Cultivating diamond enterprises should actively explore, demonstrate social responsibility, and establish a green brand image; And in the process of work, comprehensively plan, orderly promote, and seize major opportunities for high-quality development. As the world's largest producer of lab diamonds and the second largest consumer of diamonds, China's lab diamond industry needs to truly prioritize sustainable development. When included in the control scope, it can directly obtain environmental benefits such as carbon emission rights (carbon sinks), energy rights, and pollution rights. At the same time, low-cost funding support from green finance can be obtained to cultivate diamond enterprises, carry out technological innovation and application in response to climate change and efficient resource conservation and utilization; Such as the People's Bank of China's carbon emission reduction support tools and green finance support policies in various provinces and cities. Lastly and most importantly, it is more conducive to enhancing brand image, reflecting corporate social responsibility, shaping a green and environmentally friendly brand image, and gaining higher market recognition and consumer favor.
The Association of Intelligent Diamonds International(AIDI) will issue green enterprise certification to help businesses take action in the following nine steps:
(1) Inventory and set carbon neutrality targets. Only by grasping the overall situation and identifying opportunities for carbon reduction can the follow-up actions of enterprises be targeted and effective.
(2) Optimize operational energy efficiency. Optimize workflow and methods, deploy power detection and management systems, and develop waste recycling mechanisms.
(3) Enhance the use of renewable energy. Deploy self owned renewable energy systems such as rooftop photovoltaic power generation systems, or purchase green electricity externally.
(4) Build green buildings. Deploy power management systems, sensors, and LED systems; Adopting more energy-efficient heating and cooling systems.
(5) Green working methods. Encourage employees to practice green work methods to save electricity and reduce unnecessary travel.
(6) Supply chain decarbonization. Suppliers who adopt sustainable materials, processes, and logistics.
(7) Design sustainable products. Reduce carbon emissions during product usage and promote production process emissions reduction through sustainable operations.
(8) Adopting green downstream logistics. Promote decarbonization of self owned vehicles through means such as vehicle electrification, use of sustainable fuels, and improving energy efficiency, or collaborate with environmentally friendly aircraft, ship, and fleet suppliers.
(9) Assist in external decarbonization. The profits are used for further external decarbonization work, such as afforestation, supply chain decarbonization, etc.
Chinese lab diamond enterprises requires the establishment of self low-carbon environmental protection certification standards. The Association of Intelligent Diamond International(AIDI) has been established in China and, together with Chinese lab diamond enterprises, provides services on AIDI green+enterprise environmental protection certification, opening up entry channels for Chinese lab diamond enterprises into the global market.