Thanks to which initiatives can I buy a sustainable diamond in Antwerp?

Thanks to which initiatives can I buy a sustainable diamond in Antwerp?

  • Which roll does the AWDC play in sustainable diamonds?
  • Which initiatives does the AWDC support?
  • Which international initiative for sustainable industry recently started?

Sustainability becomes more and more important on an international base. Every sector is taking steps and the global governments are keeping an eye on global change. Of course, the diamond sector could not miss this boat and is also contributing to this story. The Belgian diamond federation in particular, takes action on a daily base to achieve an industry that is sustainable. Which initiatives does the AWDC support? Which other international initiatives about sustainability started lately?

Which roll does the AWDC play in sustainable diamonds?

The AWDC, the official representative of the Antwerp diamond industry, is leading the policy about sustainability in the diamond sector. Besides the well-known 4 C’s they introduced a 5th C: Compliance. The latter takes into account Confidence and Corporate Social Responsibility (CSR) of big enterprises. It is important that these big companies recognize the impact they have on society and therefor, taking responsibility. That is why the European Commission introduced CSR. As a result, you can only buy sustainable diamonds in Antwerp.

The 5th C plays a very important role in the long-term strategy of AWDC. This is also something that stakeholders of AWDC are recognizing. They identified five points the AWDC is working on every day:

  • Transparency
  • Responsibility & integrity
  • Service
  • The indirect economic impact on Antwerp
  • The indirect economic impact on diamond-producing countries

Which initiatives does the AWDC support?

The good thing about the AWDC is that they also support other initiatives than their own, when talking about sustainable diamond trade. For example, they support the Diamond Development Initiative (DDI) and the Responsible Jewellery Counsil (RJC). The purpose of the DDI is to supplement the Kimberley-process (KP). Even though, the KP is acting against conflict diamonds, closely followed by the AWDC, they do not act against economic difficulties and possible exploitation of artisanal diamond miners. That is why the DDI is committed to providing artisanal miners with opportunities, resources and knowledge that will enable them to make rapid economic and ecological progress.

The RJC offers similar services, but is unique in the fact that they are present at every step of the diamond process, from mining to sales. The organization issues diamond certificates itself, helps both small and big companies, and has expanded to include taking care of precious metal mining.

Which international initiative for sustainable industry started recently?

Sustainability is becoming more important every day and thanks to this, new initiatives pop up. A recent example is the development of Polar Index, in collaboration with the Russian State University and the United Nations. This Index is a tool to easily evaluate companies active in an Artic region, based on sustainability. Companies with a high score are being motivated to continue acting like that, and those with a low score are being pushed to catch up. Isn’t it fantastic that the entire diamond market is contributing in the story of sustainability?


Where can I buy a sustainable diamond in Antwerp? How do I know for sure that my diamond satisfies all the requirements? Ask for advice to one of our diamond experts of BAUNAT DIAMONDS.

 

Author: Inge De Wee
Source: BAUNAT

With this article, BAUNAT strives to inform you thoroughly about investing in diamonds. No investment can be guaranteed to be without risk or fully according to your expectations. That is why we recommend to research the risks and aspects of investing in diamond properly to ensure that you make the right choice for your portfolio.

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