The World Jewellery Confederation (CIBJO) and the International Grown Diamond Association (IGDA) have signed a Memorandum of Understanding (MOU) to work together in developing transparent standards, operating principles, and terminology for the industry in an effort to safeguard consumer confidence in the jewellery sector.
During the National Association of Jewellers (NAJ) Summit in Birmingham on June 25, 2023, the MOU was signed. The agreement was ratified by CIBJO President Gaetano Cavalieri and IGDA President Joanna Park-Tonks, constituting a significant step in promoting jewellery consumer trust.
According to the agreement, Park-Tonks will serve as a representative of IGDA on the Laboratory Grown Diamond Committee of CIBJO. A Laboratory Grown Diamond Guidance paper has already been created by the committee, which is chaired by Wesley Hunt of De Beers. In order to guarantee the authenticity of laboratory-grown diamonds and enable consumers to make educated purchasing decisions, this paper intends to create universal trading and handling standards.
The laboratory-grown diamonds sector has developed over the past several years into a sizable and noticeable portion of our industry, and we all have a strong stake in each other’s success, according to Dr. Cavalieri.
“This sends a clear signal to the global jewellery industry to put personal agendas and egos aside and place the consumer and their best interests at the heart of our work,” Park-Tonks said. We can all agree that a strategy of disparaging lab-grown diamond products or real diamonds does not help customers comprehend either market. Together, we are stronger and recognise the importance of speaking in a direct, honest, and transparent manner.
The proper depiction of sustainability issues is one of the current focuses of CIBJO‘s Laboratory Grown Diamond Committee and a topic of discussion between CIBJO and IGDA. Collaboration and industry leadership are needed to address these issues.
Vivien Johnston Glass, the IGDA‘s Sustainability Chair and a sustainability consultant, said, “We are sensitive to the issue of ‘greenwashing,’ which can mislead consumers about the environmental impacts of LGDs when unsupported by evidence.