De Beers outlines plans to improve social responsibility in effort to win over investors

De Beers: Venetia diamond mine

DE BEERS has outlined plans to ethically source its diamonds and become carbon neutral by 2030, said Reuters.

This is the latest in the mining industry’s efforts to win back investors who want companies to be environmentally and socially responsible.

The diamond producer, which in the past has been accused of failing to report toxic levels of mercury at one of its mines in Canada, said on Monday it would look to halve its water footprint and achieve a net positive impact on biodiversity by 2030.

It also said it would provide the origin and impact of every diamond it discovers and sells, while also extending a set of ethical, social and environmental standards beyond its value chain and across diamond mining as well as other sectors.

The ethical practices are among the company’s 12 sustainability goals being adopted for the coming decade, which also includes achieving gender parity across its workforce.

De Beers, the world’s biggest diamond producer by the value of its gems, has led industry efforts to verify the authenticity of diamonds and ensure they are not from conflict zones where gems may be used to finance violence, said Reuters.

The company has tracked high-value diamonds from miner to retailer using blockchain to clear the supply chain of imposters and conflict minerals.

De Beers is 85% owned by Anglo American, the UK-listed diversified mining group.