The World Jewellery Confederation (CIBJO) has complemented its environmental, social and governance (ESG) guidance for the jewellery industry with a set of guidelines for measuring ESG performance in the jewellery distribution chain.
While the first document was geared primarily for companies handling laboratory-grown diamonds, the new document’s recommendations can be applied in different parts of the industry and distribution chain, and by larger and smaller companies, the industry body said.
The “CIBJO Guidelines for Measuring ESG Performance” document was developed by the CIBJO Laboratory-Grown Diamond Committee. It is built around 14 ESG themes, identifying between 4 and 16 measurement areas, as well as sample metrics for each theme. They represent a subset of widely used measures relevant to the jewellery industry, to enable companies to take action.
“This a very significant guidance document, which we a pleased to be able to make freely available to all members of the industry,” said CIBJO President Gaetano Cavalieri.
“We have [for] many years promoted the introduction of strict corporate responsibility and sustainability practices in the international jewellery industry, but ESG is taking things to a different level, transforming what once were mainly recommended principles into legal obligations.”
In preparing the guidelines, CIBJO recognised that the jewellery industry and value chain are highly fragmented, diverse and multi-layered, and that there are significant differences in practices and differing levels of sophistication between countries and sectors, including precious metals and gemstones.
Theodor Lisovoy, Managing Editor, Rough&Polished
