De Beers Group Reports on Progress Towards ‘Building Forever’ Sustainability Goals

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In confronting pressing climate-related priorities, De Beers also progressed key renewable energy projects in line with its greenhouse gas emission reduction targets, which were validated by the Science Based Targets initiative (SBTi) during 2023. This included working with Envusa Energy (a joint venture between Anglo American plc and EDF Renewables) to develop renewable energy infrastructure to provide 48 MW of power to the company's Venetia mine in South Africa from 2025 and progressing planning for a 34 MW wind farm in Namibia. De Beers also held its inaugural Scope 3 supplier summit, mandating carbon reporting for the company's Sightholders and securing commitments with key suppliers to work on aligned GHG reduction roadmaps.

 

In addition, De Beers continues to enhance its efforts on diamond provenance and traceability, a critical priority for the company, consumers and the industry at large. In 2023, De Beers expanded the pioneering blockchain platform, Tracr, opening it up to the wider industry and enabling participants to record a diamond's journey from source to store. De Beers is now registering more than two-thirds of its global production by value on the platform, with 1.5 million individual diamonds registered during 2023, bringing the total registered on Tracr to two million. A range of key industry businesses also joined the platform in 2023.

 

Al Cook, Chief Executive Officer of De Beers Group, said: "Every stage of a natural diamond's journey presents an opportunity to create a positive impact. We've long understood this at De Beers and it's why our sustainability efforts are so closely aligned with the sustainable development priorities of our partner countries. Natural diamonds are a vital source of economic development for many millions of people. Through Building Forever, we're working to ensure that every diamond we discover benefits the people and place it came from, with a priority focus on supporting community resilience, advancing women and girls and protecting nature.

 

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"We continue our efforts to reduce our carbon footprint in line with our recently validated science-based emission reduction targets and are progressing investments in renewable energy to power our operations. Our leadership in diamond transparency and traceability also continued throughout 2023, underpinned by leading technologies, so that we can increasingly connect consumers with the provenance of their natural diamond and all the benefits it has delivered along its journey."

 

De Beers Group's full 2023 sustainability report is available to read here.

 

About De Beers Group

Established in 1888, De Beers Group is the world's leading diamond company with expertise in the exploration, mining, marketing and retailing of diamonds. Together with its joint venture partners, De Beers Group employs more than 20,000 people across the diamond pipeline and is the world's largest diamond producer by value, with diamond mining operations in Botswana, Canada, Namibia and South Africa. Innovation sits at the heart of De Beers Group's strategy as it develops a portfolio of offers that span the diamond value chain, including its jewellery houses, De Beers Jewellers and De Beers Forevermark, and other pioneering solutions such as diamond sourcing and traceability initiatives Tracr and GemFair. De Beers

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