Sustainability the Focus of New Jewelry Task Force
RAPAPORT. The Responsible Jewellery Council (RJC) has unveiled a task force to help benchmark the progress of its members in the implementation of the 17 United Nations Sustainable Development Goals (SDGs).
The group, which includes 26 industry leaders together with representatives of nongovernmental organizations, trade bodies and academia, will establish a platform to coordinate the joint efforts, according to an RJC statement.
The council, which sets standards for the jewelry and watch supply chain, said the task force would also launch a library of best practices while building a unified reporting framework.
“Nothing is more important than the continuous improvement in the integrity of the global jewelry supply chain to help strengthen consumer confidence and underpin its future with greater trust,” said RJC chair David Bouffard. “That is why the task force is critical to the future of our industry.”
Watchdog Warns Diamond Council over Ads
RAPAPORT. A US advertising regulator has rebuked the Natural Diamond Council (NDC) over its environmental claims following a complaint by Diamond Foundry, a lab-grown producer.
The National Advertising Division, part of industry self-regulator BBB National Programs, has called on the NDC to stop using certain assertions that compare natural stones with synthetics, it said Thursday. These include statements that lab-grown diamonds emit three times more carbon than their mined counterparts.
The recommendation revolved around claims the Diamond Producers Association (DPA) the NDC’s predecessor first published in a 2019 report on the relative impact of the two products. In it, the DPA estimated the average carbon-dioxide emissions of its members at 160 kilograms per carat of polished, using data from 2016. That compared with emissions of 511 kilograms per carat for the equivalent lab-grown material.
New Fund to Help Jewelers Study Sustainability
RAPAPORT. The Women’s Jewelry Association (WJA) Foundation has launched a fund enabling members to gain an education in issues related to responsible sourcing.
“Now is the time to develop sustainability champions at every level of our industry to help create positive impacts on people, to protect the planet, and to move our businesses and industry forward,” said Brandee Dallow, WJA Foundation president.
The foundation, a nonprofit that supports the WJA’s mission, initiated the Responsible Sourcing and Sustainability Education Fund to mark Earth Day, which occurred on April 22. The organization will support the education currently live online of WJA members at New York University (NYU) Stern School of Business Executive Education, where they will be able to take relevant courses, such as one in corporate sustainability. WJA members “in good standing” will receive a special enrollment rate.
Swiss Watch Exports Surge in March
RAPAPORT. Switzerland’s watch trade saw a sharp increase in exports in March, benefiting from a favorable comparison with the onset of the coronavirus crisis and the first rise in shipment volumes in more than 30 months.
Orders advanced 37% year on year to CHF 1.87 billion ($2.05 billion), the Federation of the Swiss Watch Industry said last week. Last March, Swiss exports slumped 22% to CHF 1.36 billion ($1.4 billion) as the Covid-19 outbreak escalated into a pandemic.
Exports to China rose 101% to CHF 312.7 million ($342 million), while those to the US grew 13% to CHF 255.9 million ($279.9 million). Supply to Hong Kong jumped 30% to CHF 180.5 million ($197.4 million).
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