Created by Materia for OpenMind Recommended by Materia
Start Discover Multimedia The Environmental Footprint of Diamonds

BBVA-OpenMind-the environmental footprint of diamondsThre

16 August 2023

The Environmental Footprint of Diamonds

Diamonds are a luxury item, so you might think that their environmental and climate footprint would be small. But when you consider that their estimated demand in 2022 was 178 million carats—more than 35 tonnes—which is forecast to grow by 65% by 2050, that 80% of mined diamonds are used for industrial purposes, and that 34% of diamonds used in jewellery are sold as engagement rings, it seems that their impact is much greater than we might think. Perhaps enough to raise questions about their sustainability, especially when artificial, non-mined alternatives are now available. So is there such a thing as a green diamond?