By Sachin Jain,
As we mark the 52nd Earth Day on April 22, it is a time to reflect on our responsibility and commitment to the environment and climate change, it is also time to contemplate on our individual impact on the world – from our personal carbon footprint to our cultural and economic practices. Sustainability then is the answer to sustainable prosperity and must constitute the core of every business – it is a guide to a sparkling future, one that is fairer, safer, cleaner and healthier, where safety, human rights and ethical integrity continue to be paramount, where communities thrive and where the environment is protected. These are the values that most luxury brands must vouch for across the world. Diamonds are symbolic of our greatest emotions – love, pride and lasting commitment, yet they have to be obtained keeping in mind the highest standards of sustainability, which alone will ensure that they make a lasting impression on the buyers. It is our responsibility then to ensure its pristine and natural value.
Growing focus on sustainable luxury
The luxury market is changing with the evolving culture of environmental concern and demand for conscious, forward-thinking products and practices. In today’s climate of conscious consumption, sustainable luxury is on the rise and a much stronger focus is needed to help protect the environment and endangered species and habitats. Moreover, it is our duty to undertake and maintain initiatives to support environmental sustainability in our business practices because of a radical change in consumer expectations. Our recent research highlights the change in consumer attitudes as younger generations value ethics and sustainability assurances apart from knowing where a product originated.
The rise of new-gen consumers
The new generation is conscious of the ecological and social consequences of their purchase decisions and hence prefer buying from a brand that is in tune with their own personal values. Hence, niche brands who wish to retain their established status in the luxury market need to evolve with this growing trend of ethical and sustainable luxury. We believe this notion of social purpose will come to sit at the heart of the consumer proposition for all luxury brands – and even more so when it comes to highly meaningful luxury purchases such as diamonds.
Purchase sustainably-sourced diamonds
Diamonds are more than sparkle, glitz, and glamour; they are a statement, a sentiment we share with others, an affirmation we give to our partners or ourselves. Sustainably sourced natural diamonds are not only beautiful – they are sourced and distributed in a way that is responsible and conscientious of individual workers, communities, and the environment. Purchasing sustainably sourced diamonds is not just about ‘feeling good’ about the precious solitaire you wear, it is also about the people and the communities that are directly involved in the sourcing of diamonds. Hence, the choice we make today will directly reflect in our environment tomorrow.
A safe environmental future is the need of the hour
It takes billions of years for rare diamonds to form deep inside the surface of the earth and to protect this rarity, we need to guarantee their responsible sourcing. This will enhance their sustainable quality and ensure that we follow ethical practices in the production of diamonds. An instance of sustainable initiative taken by us as part of our commitment to protecting our natural world is the ‘Moving Giants’ initiative which highlighted Elephant Conservation in Africa and the longest elephant translocation ever attempted- moving 200 elephants 1,700kms to a new home in Zinave, Mozambique.Despite a spread of over 408,000 hectares, Zinave was home to fewer than 60 elephants before the translocation began. The elephants arrived at their new home in Zinave and settled in well. We have been delighted that there have been sightings of new elephant babies, the first to be spotted in the park for a long time. This positive news provides the first milestone to indicate the translocations have been successful, with the elephants successfully adapting and thriving in their new location.In conclusion, it is vital that on world Earth Day, we echo our promise to protect the natural world by ensuring that responsible sourcing is at the heart of everything we do, the core, so to say, to make life brilliant.
(The author is Managing Director, De Beers India. Views expressed are personal and do not reflect the official position or policy of the FinancialExpress.com.)