International News
CIBJO Introduces New Guidelines for Measuring ESG Performance in the Jewellery Supply Chain
The World Jewellery Confederation (CIBJO) has launched a new set of guidelines aimed at assisting jewellery businesses in assessing their environmental, social, and governance (ESG) performance. This follows last year’s release of the ESG principles document and builds upon it by offering practical measurement tools.
The “CIBJO Guidelines for Measuring ESG Performance,” created by CIBJO’s Laboratory-Grown Diamond Committee in collaboration with Key & Co. and the Sustainable Development Commission, provides a comprehensive framework suitable for various sectors of the jewellery industry, ranging from large corporations to smaller businesses. Unlike the earlier document, which focused solely on lab-grown diamonds, these updated guidelines apply across the entire jewellery supply chain.
The guidelines are organized around 14 key ESG themes, each with detailed measurement areas and example metrics. Acknowledging the diverse and fragmented nature of the jewellery industry—especially the challenges faced by artisanal mining and small and medium-sized enterprises (SMEs)—the document presents a practical 10-step approach for companies beginning their ESG journey. It also includes a glossary of terms to clarify complex language.
CIBJO President Gaetano Cavalieri emphasized the importance of the guidelines, stating, “This is a highly valuable resource, and we are pleased to make it freely available to all industry members.” He also pointed out the increasing trend of turning ESG principles into legal obligations, referencing the European Commission’s upcoming ESG regulations as an example.
Set to take effect in 2027, these new regulations will require many listed SMEs to disclose their ESG impacts. Cavalieri highlighted the need for the industry to prepare in advance, positioning the guidelines as an essential tool in this preparation process.
International News
Consortium Led By Former De Beers CEO Gareth Penny Selected As The Preferred Bidder To Acquire De Beers
Botswana is expected to play a pivotal role in the transaction. The country, together with Namibia, Angola and other shareholders, already owns a 15% stake in De Beers
A consortium headed by former De Beers CEO Gareth Penny has been selected as the preferred bidder to acquire De Beers, according to Botswana’s Minister for State President, Defence and Security, Moeti Mohwasa.
Speaking on the development, Mohwasa said Anglo American conducted a competitive sale process involving three shortlisted bidders before identifying the Global Diamond Consortium as its preferred choice.
Anglo American announced plans to divest De Beers in May 2024 as part of a broader restructuring strategy, driven by prolonged weakness in the diamond market and other business priorities.
The sale process has attracted significant interest from industry leaders and investors. Among those previously linked to the bidding were former De Beers CEO Bruce Cleaver, Australian mining executive Michael O’Keeffe, Indian billionaire Anil Agarwal, and Indian diamond companies KGK Group and Kapu Gems.
Botswana is expected to play a pivotal role in the transaction. The country, together with Namibia, Angola and other shareholders, already owns a 15% stake in De Beers and retains important rights under the shareholder agreement. Mohwasa emphasized that Botswana has the flexibility to either join the preferred bidder as a strategic partner or exercise its pre-emptive rights independently or with another investor.
Industry observers believe the eventual owner will seek to preserve De Beers’ vertically integrated business model, spanning diamond mining, trading and global natural diamond marketing, while positioning the company to benefit from a potential recovery in natural diamond demand and prices.
Rajiv Jain Elected Chairman Of Jaipur Jewellery Show
Vinsmera Jewels Expands UAE Presence With Soft Opening Of New Al Barsha Showroom In Dubai
Nature’s Elegance, Reimagined: Lotus Arts De Vivre’s Cape Gooseberry Earrings Continue To Captivate
FIFA Unveils First-Ever 18K Gold Diamond Championship Rings to celebrate Spain’s World Cup Victory
Nature’s Elegance, Reimagined: Lotus Arts De Vivre’s Cape Gooseberry Earrings Continue To Captivate
Vinsmera Jewels Expands UAE Presence With Soft Opening Of New Al Barsha Showroom In Dubai
-
BrandBuzz21 hours agoFIFA Unveils First-Ever 18K Gold Diamond Championship Rings to celebrate Spain’s World Cup Victory
-
National News20 hours agoNature’s Elegance, Reimagined: Lotus Arts De Vivre’s Cape Gooseberry Earrings Continue To Captivate
-
New Premises19 hours agoVinsmera Jewels Expands UAE Presence With Soft Opening Of New Al Barsha Showroom In Dubai
-
National News17 hours agoRajiv Jain Elected Chairman Of Jaipur Jewellery Show
JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.