Leading American jeweler Tiffany & Co. announced a new initiative Wednesday to ensure transparency in its diamond sourcing.
“Tiffany & Co. will begin sharing with our customers the provenance, meaning region or countries of origin, of our newly sourced, individually registered diamonds – a significant step for diamond transparency,” said CEO Alessandro Bogliolo, as the company launched the Diamond Source Initiative.
That’s especially important for a sophisticated Tiffany’s clientele that wants to be confident that its diamond products are ethically and sustainably mined, and produced without child labor, “blood diamond” conflict or other practices.
Each Tiffany diamond is engraved with a tiny, invisible serial number using a laser. That helps to make it unique and traceable to each owner. Making the diamond’s journey transparent begins with the information on where it came from: Tiffany acquires diamonds from across the world, among them six countries in sub-Saharan Africa including Sierra Leone and Lesotho. All stores will now give that location for any diamond larger than 0.18 carat.
“As a long-time leader in sustainable luxury, Tiffany advocates to establish global standards for ethical diamond sourcing,” the company said. “We were early supporters of the Kimberley Process and helped found the Initiative for Responsible Mining Assurance (IRMA), an organization making significant strides in establishing global mining standards.”
Andy Hart, the company’s vice president of diamond and jewelry supply, says the best way to ensure responsible sourcing is to know where a diamond came from. Chief sustainability officer Anisa Kamadoli Costa echoed those sentiments.
“For consumers, knowing the provenance and ultimately the craftsmanship journey allows them to understand the positive impacts that are being made along the supply chain,” she said.