Why lab-grown diamonds are a sustainable option?
It is human negligence that has led to the environmental crisis that we are facing today. Whenever human actions or activities encroach on the natural environment, it causes more than just environmental damage. The emergence of the COVID-19 pandemic may seem like a natural act, but in fact, it is an illustration of our neglect and a stark reminder of our dysfunctional relationship with mother Earth.
In the context of preventing the emergence of further outbreaks, experts also say that we need to end both global heating and destruction of our natural environment for mining, farming and housing as these activities eventually drive wildlife into contact with masses which causes spread of deadly diseases and disrupts the natural world.
As industries and businesses assess how to emerge from the Covid crisis, we as consumers need to reflect on our deeds and be more mindful of our consumption. For those wondering where to begin, why not start with luxury items that are not a necessity in our lives. It is also important that customers demand sustainability and transparency from brands to lead a positive change.
Diamonds grown above the earth/non-mined diamonds have become increasingly popular among consumers over the last few years. Similar to the concept of test-tube babies and naturally born babies where the procedure varies but the output is exactly the same. Lab-grown diamonds are real diamonds that are grown in advanced labs by replicating the diamond creation process which occurs below the surface of the earth bearing the exact same properties, composition and characteristics.
How eco-friendly are lab-grown diamonds?
Considering that lab-grown diamonds are grown above the earth, they completely eliminate the heavy extraction costs linked with traditional diamonds, making them the sustainable and ideal choice among consumers.
One carat of lab grown diamond can save up to:
109 gallons of water
1.5 billion times carbon emission per carat
250 tonnes of land
At least 30% of your money
150 million carats of diamonds mined each year destroys:
More than 16 billion gallons of water
More than 37 billion tonnes of land
There is a demand for sustainability and the rise of eco-friendly diamond jewellery.
The global crisis has affected the overall luxury market and the pace of recovery is expected to be slower than anticipated. It will naturally have an impact on the global jewellery and gems industry. However, the pandemic has left a severe impact on the consumer’s mindset and a significant change is expected in their purchasing as well as behavioral patterns. The key consumer trends likely to be seen are:
Increased social and environmental consciousness – consumers are most likely to support sustainable products
Ethics will be as important as aesthetics – brands that actively communicate their core values, principles and stand up for the appropriate ethical practices will be embraced quickly. Increased demand and love for national products – whilst governments have also started working towards reducing dependencies on other countries, nationalised products will begin to gain higher confidence in the eyes of the consumer. Luxury brands will have to re-consider price points to remain “affordable” – ‘value for money’ will be given utmost importance.
Online shopping will become even more popular
In short – “Purchase with a purpose is most likely to be the new definition of luxury” and this spells out one clear answer that once economies revive, change in consumer mindset is going to popularise non-mined diamonds further all over the globe
Sustainable diamonds are emerging as the new true symbol of love
To tackle the ongoing environmental crisis, millennials and younger generation of consumers are being mindful of their purchases more than ever and are making environmentally sustainable choices. With the world becoming aware of the advantages of lab-grown diamonds, these sustainable stones have emerged as the new true symbol of commitment and love among these luxury consumers who wish to build a brighter future.
However, one of the biggest change-makers is that these diamonds are grown in labs and not extracted from earth, hence leaving it free of mining manipulations. Since there’s no mining involved, these diamonds save up on the mining costs, and the resulting lab-grown diamonds are at least 30% cheaper than their mined counterparts.
In addition to separating retailers from the mined diamond industry, lab-grown diamonds act as a bridge to a younger generation who may not necessarily connect with the perceived value of real diamonds and are looking for affordable and still attractive options.
Lab-grown diamond production has sky-rocketed in recent years, with 6-7 million carats produced in 2020 alone, though still a small industry compared to diamond mining, which peaked mor than 150 million carats in 2017 and stands around 111 million carats currently. Lab-grown diamonds are increasingly pitched as the sustainable choice to price- and planet-conscious young consumers.
Experts say the best way forward for the diamond industry is one that benefits from lab-grown diamond innovation. Without addressing the issues, the mined diamond industry risks distancing a new generation of socially and environmentally conscious consumers. Shoppers expecting an easy fix - which lab-grown diamonds have been marketed as - will not be disappointed.
Source link: https://medium.com/@greenlab.diamonds/why-lab-grown-diamonds-are-a-sustainable-option-f040f207f