Indian Diamond Firm Star Rays Joins CIBJO Carbon Neutral Initiative

17/02/2020 10:56

Indian diamond manufacturer and exporter Star Rays announced it is working towards becoming India’s first carbon-neutral diamond company, highlighting its commitment to sustainable business practices. The company is participating in the World Jewellery Confederation’s (CIBJO) Greenhouse Gas (GHG) Measuring and Offsetting Initiative to ensure that its carbon emissions and removals are measured in accordance with international standards. CIBJO set up the initiative in 2014 to help companies in the jewelry and gemstone industries understand their environmental impact, reduce it, and protect themselves and the sector as a whole.

"We are committed to reducing carbon emissions at every step in our business and personal life," says Jitesh Shah, partner at Star Rays. "We have therefore decided to collaborate with Carbon Expert, a carbon consultancy firm who has developed processes and best practices to help companies become carbon neutral by complying with the GHG Protocol Corporate Standard.” Rahul Jauhari, Sr. Vice President, Global Sales and Marketing at Star Rays tells us, "Environmental and social responsibility has become a mission for Star Rays. Carbon neutrality is just one of a number of initiatives Star Rays has adopted to ensure that our clients can take pride in purchasing natural diamonds manufactured by an environmentally and socially-conscious company."

The diamond industry has picked up the pace in recent years to become better caretakers of the environment. De Beers' parent company Anglo American in 2017 unveiled a research project that aims to deliver carbon-neutral mining at some of the company’s operations in as few as five years. Leading the initiative for De Beers Group is Dr Evelyn Mervine, who said at the time: “This project offers huge potential to completely offset the carbon emissions of De Beers’ diamond mining operations. Mineral carbonation technologies are not new, but what is new is the application of these technologies to kimberlite ore, which is found in abundance in the tailings at diamond sites, and which offers ideal properties for the storage of very large volumes of carbon. As part of the project, we are looking at how these existing technologies can be modified to develop specific solutions suitable for storing carbon in kimberlite tailings."

In 2018, the Diamond Producers Association (DPA) commissioned Trucost to undertake a comprehensive analysis of the total value contribution of the DPA members, considering all material socioeconomic and environmental benefits and impacts. This analysis resulted in the report, The Socioeconomic and Environmental Impact of Large-Scale Diamond Mining, which asserts, among other findings, that the estimated CO2 emissions involved in laboratory-created diamond production are nearly three times greater than those from natural diamonds. The natural diamond industry is moving towards a carbon neutral future, with an increased use of renewable energy sources in various mines.

Star Rays is a De Beers Sightholder. In April 2019, the company established a fully-owned subsidiary, Star Rays Diamonds Botswana (Pty) Ltd which manufactures diamonds in a fully equipped, state-of-the-art factory in Gaborone, Botswana. Its vision is to build a beneficiation manufacturing operation of the highest standard (when benchmarked against global best practices) allowing for long-term sustainability.

Photo: Shruti Mehta @DiamondsandAntwerp