De Beers’ Ethical Shift: Investing in Artisanal Diamonds and Sustainable Luxury

The diamond industry, long associated with luxury and glamour, is undergoing a significant transformation. Consumers are increasingly demanding transparency and ethical practices, pushing major players to re-evaluate their sourcing and production methods. De Beers, a name synonymous with diamonds for over a century, is at the forefront of this shift, making substantial investments in artisanal diamonds and sustainable luxury.

The Rise of Ethical Consumerism in the Diamond Market

Today’s luxury consumer is more informed and socially conscious than ever before. They want to know the origin of their diamonds, the impact their purchase has on communities, and whether the mining practices are environmentally responsible. This demand for ethical sourcing has fueled the growth of initiatives like the Kimberley Process, aimed at eliminating conflict diamonds from the supply chain. However, consumers are now looking beyond conflict-free diamonds and seeking assurances of fair labor practices, environmental protection, and community development.

De Beers’ “Building Forever” Initiative

Recognizing this evolving landscape, De Beers launched its “Building Forever” sustainability strategy. This initiative represents a comprehensive commitment to ethical and sustainable practices across its entire value chain. “Building Forever” focuses on four key pillars:

Livelihoods: Supporting jobs, families, and communities around the world. In 2024, De Beers’ diamonds supported livelihoods directly, indirectly, and through partnerships designed to support diversification beyond diamonds.
Climate: Reducing the company’s carbon footprint and investing in renewable energy. De Beers has committed to reducing Scope 1 and 2 GHG emissions by 42% by 2030 (from 2021) and has reduced emissions by 7% since 2021.
Nature: Protecting biodiversity and conserving natural resources. The company managed about 375,000 acres of land for conservation purposes in 2024.
Provenance: Ensuring diamond traceability and transparency. By 2030, De Beers aims to record most of its annual production on its Tracr blockchain platform.

These pillars align with the UN Sustainable Development Goals, demonstrating De Beers’ commitment to global sustainability efforts.

Investing in Artisanal Mining: The GemFair Program

A key component of De Beers’ ethical shift is its investment in artisanal and small-scale mining (ASM). ASM accounts for approximately 10% of the global diamond supply by value and provides a vital source of livelihood for millions of people in some of the poorest parts of the world. However, ASM is often associated with poor working conditions, environmental degradation, and a lack of transparency.

To address these challenges, De Beers launched the GemFair program in 2018. GemFair is a first-of-its-kind sourcing initiative that aims to transform standards and livelihoods for artisanal diamond miners by providing fair value purchasing, training to improve mining and working practices, and a formal and traceable route-to-market for ethically sourced artisanal diamonds.

Through GemFair’s proprietary digital tools and third-party-verified assurance program, eligible diamonds can be traced from mine site to market. The program’s success is measured through improvements in standards, support of livelihoods in both mining and alternative livelihoods like farming and fishing, and traceability rather than production volume, reflecting its long-term, systems-based approach.

As of 2024, the EntreprenHer program had supported over 3,100 women entrepreneurs through training, mentorship, and access to business networks. Since 2020, the GemFair program has converted almost 160 abandoned mine pits to agricultural use and donated over 1,000 kilograms of rice, fruit, and vegetable seedlings for local communities, supporting food security and providing an alternative source of livelihoods.

GemFair and De Beers London Collaboration

De Beers Group is pleased to announce a collaboration between GemFair, the company’s programme to help formalise the artisanal and small-scale diamond mining (ASM) sector, and its luxury jewellery brand, De Beers London, to bring the story and beauty of GemFair’s ethically sourced, artisanal diamonds to consumers for the first time.

This launch marks the first time that GemFair’s ethically sourced, artisanal-mined diamonds are featured in jewellery, bringing their story of supporting livelihoods to consumers. The capsule collection with De Beers London translates this journey into a series of creations that pair rough and polished GemFair diamonds, offering a rare and tangible expression of transformation. Comprising twelve unique pieces, the capsule collection celebrates the House’s intimate relationship with the source.

Blockchain Technology and Diamond Traceability

To further enhance transparency and traceability, De Beers has been a pioneer in the use of blockchain technology. In 2018, the company successfully tracked 100 high-value diamonds using blockchain. In 2019, they launched their own end-to-end traceability platform called Tracr to enable all diamonds to be identified and traced as they move from the mine to the store.

The Tracr platform creates a tamper-proof digital record for each diamond, documenting its journey from the mine to the retailer. This allows consumers to have confidence in the origin and ethical sourcing of their diamonds. In 2024, De Beers launched its ORIGIN program, a breakthrough initiative that extends blockchain tracking all the way to the retail environment.

Challenges and Opportunities

Despite the progress made, De Beers faces ongoing challenges in its ethical shift. One significant challenge is the increasing popularity of lab-grown diamonds, which are significantly more affordable than mined diamonds. In 2025, lab-grown diamonds were reported to be approximately 90% less expensive than their mined counterparts, compared to a 10% price difference in 2018. This price difference puts pressure on the market for natural diamonds, requiring De Beers to further differentiate its products through ethical sourcing and sustainability initiatives.

Another challenge is ensuring consistent standards and monitoring across its entire supply chain, particularly in the ASM sector. This requires ongoing investment in training, technology, and third-party verification.

However, these challenges also present opportunities for De Beers. By embracing ethical and sustainable practices, the company can strengthen its brand reputation, attract new customers, and create a more resilient and responsible business model.

The Future of Sustainable Luxury in the Diamond Industry

De Beers’ ethical shift is not just a trend but a fundamental change in the way the diamond industry operates. As consumers become more aware of the social and environmental impact of their purchases, the demand for ethically sourced and sustainable diamonds will only continue to grow.

Companies that prioritize transparency, responsible sourcing, and community development will be best positioned to thrive in this evolving market. De Beers’ investments in artisanal diamonds, blockchain technology, and sustainability initiatives demonstrate its commitment to leading this transformation and shaping a brighter future for the diamond industry.

By embracing “Building Forever”, De Beers is not only transforming its own business but also setting a new standard for the entire luxury industry. This commitment to ethical practices and sustainable luxury will resonate with consumers who seek not only beauty and rarity but also a clear conscience.