Ethical Gold and Diamonds: A Fantasy?

I am regularly asked about the truth regarding claims of responsible and ethical gold and diamonds, and whether ‘blood diamonds’ are still a thing. These are pretty loaded questions still, unfortunately, but I will tell you what I know and what I think:

The vast majority of diamonds bought and sold today are done so under the Kimberley Process – which is, essentially, an international certification scheme that was enacted in 2003 to prevent the trade of conflict diamonds. The members of this organization account for about 99.8% of global diamond production, so it is a pretty powerful and far-reaching program. There are a few loopholes – namely that this process only governs ROUGH diamonds and does not control already polished goods, and also admits that there is no scientific way, currently, to accurately assess the geographical origin of a diamond. The Kimberley Process website offers a lot of detailed information on the regulations, which you can read about further here.

Several people inquire about purchasing a ‘vintage’ or recycled diamond to avoid this mess, but I don’t think it necessarily accomplishes the task. While you can be relatively assured that the older stone is not financing any current conflicts, there is absolutely no possible way to determine its origin or what it may have paid for in the past.

These days, gold is now falling under similar scrutiny. I attended a workshop in Las Vegas last year at the annual JCK show with the World Gold Council and learned a few things in the process: Research on origins and conflict free mining has only begun collection in 2012, and covers only about 30% of all mined gold. Any and all gold in current circulation will essentially be ‘grandfathered in’ and therefore deemed acceptable. So there is more work to be done on this front, though it is moving in a promising direction. I would encourage you to read a little more at the World Gold website here.

My Personal Thoughts On The Matter

While I am pleased about the developments that are taking place all over the world to ensure that our luxury goods are not financing terrible conflicts, I also believe we have a ways to go before we can feel 100% confident. There are a few very enterprising companies out there doing solid work to guarantee that confidence, one of which is Brilliant Earth. They have some beautiful jewelry that goes above and beyond current regulations to ensure not only ethical practice but environmental responsibility as well, which is commendable. Do give their site a visit.

I often find myself advising customers who are extremely passionate about the subject to forgo diamonds altogether. There are so many beautiful gemstones out there with a much less bloodied history that can fit the bill. I personally believe (at the risk of sounding painfully poetic) that diamonds are not entirely unlike people – some of them have storied pasts, and while that is not ideal, it also does not prevent them from providing a lifetime of happiness to somebody else. Let me know what you think.