De Beers recently published its 2024 sustainability report, detailing meaningful progress across its key focus areas of climate action, livelihoods, nature conservation, and diamond provenance.
The report seen by Rough&Polished highlights the company's ongoing commitment to its Building Forever sustainability framework.
On climate, De Beers reported a 7% reduction in its Scope 1 and 2 emissions since 2021.
Key actions in 2024 included advancing renewable energy projects, such as completing financing for wind and solar plants in South Africa that will meet 100% of a mine's electricity needs by 2026 and continuing development of the Mmadinare solar PV project in Botswana.
The company has also had its near-term emissions reduction targets validated by the Science Based Targets initiative (SBTi), committing to reduce absolute Scope 1 and 2 GHG emissions by 42%, and Scope 3 by 25% by 2030.
The group’s socioeconomic impact was underscored by a total tax and economic contribution of $2.9 billion in 2024.
It also achieved its best-ever safety performance, with a total recordable injury frequency rate (TRIFR) of 1.2. Several programmes drove change in host countries, including the EntrepenHER programme with UN Women, which supported around 500 more women and aims to reach 1,500 more over three years. The Stanford SEED programme has helped create 3,400 jobs since 2018, and the GirlEng programme has supported over 6,500 girls in STEM since 2019.
In nature conservation, De Beers managed over 375,000 acres of land for conservation.
Efforts included relocating 10 white rhinos as part of a rewilding project and partnering to design a seabird rescue facility in Namibia to help prevent the extinction of the African Penguin.
The company also continued its partnership with National Geographic on the Okavango Eternal programme.
A cornerstone of the year's progress was the transformational scaling of the Tracr blockchain platform. Nearly three million individual diamonds have been registered on the platform since 2022.
Tracr now provides country of origin information for all De Beers-sourced rough diamonds over one carat and is undertaking objective verification throughout the value chain.
The company also launched ORIGIN – a programme that allows retailers to offer polished diamonds sourced by De Beers, tracked by Tracr, and accompanied by detailed information about each diamond's unique journey and positive impact.
Below are excerpts from the report.
What significant progress did De Beers highlight in its 2024 sustainability report across its key focus areas?
During the course of 2024, De Beers made meaningful progress in areas including emissions, safety and conservation. In addition, the business has substantially advanced its work on diamond provenance and traceability, with the blockchain-backed Tracr platform enhancing its effectiveness and scale.
What specific actions and targets has De Beers implemented and committed to regarding its climate focus?
With regards to its focus on climate, De Beers has reduced its Scope 1 and 2 emissions by 7% since 2021. The group focused on developing renewable energy solutions in 2024, working with Envusa Energy to complete the financing of wind and solar plants in South Africa, which will meet 100% of the mine's electricity needs in 2026. De Beers also continued the development of the Mmadinare solar PV project in Botswana, completed its Electrification and Alternative Fuels study at Venetia, and launched alternative fuels studies at Debswana, Namdeb and Debmarine Namibia. Moreover, De Beers worked with its top 100 strategic partners to develop roadmaps to reduce Scope 3 emissions. De Beers has had its near-term emissions reduction targets validated by the Science Based Targets initiative (SBTi) and has committed to reducing absolute Scope 1 and 2 GHG emissions by 42%, and Scope 3 by 25% by 2030 (from a 2021 base year).
How did De Beers contribute to livelihoods and safety in its host countries in 2024?
De Beers made a total tax and economic contribution of $2.9bn in 2024, highlighting the socioeconomic value that responsibly sourced natural diamonds deliver. The group also achieved its best-ever safety performance, with a total recordable injury frequency rate (TRIFR) of 1.2.
Several high-impact programmes continued to drive meaningful change in host countries. Through the EntrepenHER programme, delivered in partnership with UN Women, around 500 more women were supported, and the programme expanded to reach 1,500 more female entrepreneurs over the next three years, bringing the total number of women reached to more than 3,100. The Stanford SEED programme, run in collaboration with the Stanford Graduate School of Business, continued to support entrepreneurs across southern Africa and has helped create 3,400 jobs since its launch in 2018. Meanwhile, the GirlEng programme continued in partnership with WomEng and has now supported over 6,500 girls with a focus on STEM subjects since 2019. In addition, De Beers developed a new 10-year Diamonds for Development Fund as part of its engagements with the Government of the Republic of Botswana for a new Debswana Sales Agreement and Mining Licences.
Describe the nature conservation efforts and achievements undertaken by De Beers in 2024.
De Beers managed over 375,000 acres of land for conservation purposes in 2024, ensuring the maintenance of the habitat for a range of endangered, vulnerable and threatened species. The group relocated 10 white rhinos from Botswana to South Africa as part of a rewilding project, and through the Namdeb- Debmarine Foundation, partnered with conservation stakeholders to design a seabird rescue facility in Luderitz, Namibia, to help prevent the extinction of the African Penguin. Furthermore, De Beers continued to partner with National Geographic to protect the source waters of the Okavango Delta through the Okavango Eternal programme.
What transformational progress did De Beers make with the Tracr platform in 2024, and what new consumer proposition did this enable?
De Beers delivered transformational progress with its work on provenance, advancing and scaling the Tracr blockchain platform in 2024. Nearly three million individual diamonds have been registered on the platform since 2022, with leading producers and suppliers joining the platform, including ODC and Mountain Province, thereby increasing the volume of diamonds on the platform being registered at source. Tracr has also begun providing country of origin information for all De Beers-sourced rough diamonds over one carat registered on the platform. In addition, Tracr is undertaking both rough-to-rough and rough-to-polished objective verification of diamonds on the platform, enhancing the levels of assurance it provides throughout the value chain.
How is the group building on the progress delivered with sustainability and provenance?
De Beers continues to develop consumer propositions that enable people to buy natural diamonds with assurance on their country of origin and impact on the people and places where they are discovered. This includes the launch of a new polished diamond programme called ORIGIN – De Beers. In recognition of the growing consumer interest in where a product has come from and the impact it has had along its journey, ORIGIN – De Beers enables participating retailers to access polished diamonds that have been sourced by De Beers, tracked through the value chain by the Tracr blockchain platform, and accompanied with rich information about each diamond’s unique journey and the meaningful impact it has delivered.
How is De Beers' approach to sustainability integrated into its operations and value proposition?
At De Beers, we believe a diamond's journey should be as meaningful as its beauty. That's why sustainability is embedded in everything we do - from developing renewable energy in our partner countries to advancing gender equity and supporting long-term national development. We're not just powering our operations sustainably; we're helping build infrastructure that benefits communities. We're not just creating opportunities for women within our business; we're unlocking potential for female students and entrepreneurs across our host nations. And through our enduring partnership with Botswana, we're securing the future of our supply while investing in the country's economic development and diversification. Thanks to our provenance platforms like Tracr and the consumer-facing experiences we're building, we can share these stories with confidence. When someone chooses a De Beers natural diamond, they're not only celebrating a personal milestone – they are helping shape a brighter future for the people and places behind it.
Mathew Nyaungwa, Editor in Chief, Rough&Polished
