Environmentally Green Diamonds

Demand for diamonds is declining in many parts of the world at a time when the industry has an oversupply of the gemstones (Credit: Getty Images)

"Mined diamonds I think are very time-limited now -- the industry will come to an end, it's a question of when."

"We no longer need to mine the earth to make diamonds, because we can mine the sky."

Dale Vince, founder, Ecotricity Plc

 

"Marketing spend, by not only the man-made diamond industry but also the natural diamond industry is likely what will ultimately determine the success in the long run."

"If you're trying to be the lowest-cost producer you don't care about using hydropower as you aren't going to get a premium for it."

"You need to be able to sell it at a premium or build it as a brand."

Paul Simnisky, diamond analyst, New York

 

"I believe in the next 12 to 24 months we will see a major shift in consumer mindset which will force this industry to ensure that everything that is passing through is a low-carbon product."

"And the lab-grown guys will push ahead."

Amish Shah, ALTR Diamonds

 

"It's very confusing today, there are a lot of companies that are talking about sustainability and being carbon-neutral but they can't really put proof to the claim."

"When you see a new product coming into the market it's kind of a free-for-all -- there are no rules or regulations."

"But now you're seeing consumers asking questions, the same questions they are asking about natural diamonds: what is the source?"

Leon Peres, CEO, SCS Global Services

 

SCS Global Services is in the process of certifying through audit the sustainability footprint of lab-grown diamonds produced by Green Rocks Diamonds, based in Israel. These are the diamonds of choice for lab-grown jewelry retailer Kimai whose eco-conscious customers want to be assured that the precious gems they're prepared to put out big money for are green sustainability products. According to Jessica Warch, co-founder of Kimai, clients are wary of goods coming out of a big hole in the ground.  

 

"From the perspective of sustainability it isn't just being carbon neutral", she explains. "There's much more to it. There's the environmental and social perspective that's rarely taken into account when people talk about carbon neutrality, which to us is the most important part." Production facilities in India where ALTR Diamonds are produced, is capable of switching to solar power for energy to complement its source of methane; cow dung, according to Amish Shah.

Diamond mining can involve the removal of vast amounts of earth and rock which creates holes so big they can be seen from space (Credit: Alamy)

Lab-grown diamonds are virtually indistinguishable from natural diamonds. The big difference between natural and lab-grown rests with the traditional extraction methodology in pulling diamonds out of the earth. It is a lengthy, energy-intensive process which leaves a significant carbon footprint. Lab-grown diamonds are focused toward energy neutrality, to appeal to a rising number of consumers for whom environmental consciousness is important.

The diamonds themselves have identical compositions such that manufactured stones now pose a competitive rivalry to their naturally formed counterparts. Leading jewelry retailers now find it worth their while to serve their clients the stones they specifically enquire about and increasingly that means diamonds from eco-sensitive perspectives of production. 

 

Diamonds are among the hardest materials on the planet, which means the only way to polish a rough diamond is with another one (Credit: Getty Images)

 

There are two means by which lab-grown stones are produced; by mimicking natural formation with the use of high pressure and heat, or through a process known as chemical vapour deposition. CVD begins with a single-crystal diamond seed, placed in a chamber filled with hydrogen and a carbon-containing gas like methane; heated to 1,200C. The seed is built up by the carbon which forms the diamond crystals. Much like an oyster irritated with the presence of a tiny mineral, and that reacts by covering it in layers of  nacre -- and a pearl is formed over time.

Ecotricity Plc. creates its own methane, that greenhouse gas resulting from a combination of carbon and hydrogen, by splitting hydrogen from water with the use of electrolysis pulling carbon from the atmosphere. The production of lab-grown diamonds is on the increase though the industry has a long way to get there yet before it catches up to mined diamonds; 7m carats were produced last year; in comparison the mined process produced a volume of 111m carats in the same period.

A polished one-carat lab-grown stone now sells for a third less than a polished mined diamond. But there's no getting away from the use of renewable energy like hydropower as a challenge to the traditional mining method to the newer lab-produced diamonds. A growing number of rival producers in India and China remain fixed within old mining practices, despite that 50 percent of the world's lab-grown diamonds are now being turned out in China.

 

Diamond mining provides employment in developing countries but is also surrounded by humanitarian concerns (Credit: Getty Images)