How Diamond Consumers Can Avoid the Dangers of Greenwashing
Left Image: Laboratory-grown diamond factory in China; Right Image: Unpolished laboratory-grown diamonds
The vast majority of U.S. consumers say a sustainable lifestyle matters to them. And they back that up with what they buy. Sixty percent of consumers in a recent McKinsey survey said they would pay more for products with sustainable packaging; for millennials and Gen Zs, the percentage is even higher.
A steep cost of going green is “greenwashing”: brands using misinformation or bad data to mislead consumers about their environmentalism. Organizations that resort to greenwashing risk reputational damage among customers who have paid a premium for what has turned out to be a false sense of sustainability, literally buying into environmentalist myths.
Brands combat greenwashing with transparency, providing reliable third-party-verified certification and audited data to measure their impact, sourcing, production, and distribution, as well as to create a reliable future strategy to improve it. Unfortunately, some organizations that withhold such information may still enjoy the halo effect of their sector’s sustainable public image.
The Fast Fashion of Laboratory Grown Diamonds
Diamonds are a cherished and enduring symbol of love and commitment, which makes them a popular investment. As with any significant purchase, it’s important for consumers to research before buying, including the choice between laboratory grown and naturally sourced diamonds.
Given the high financial and emotional costs, it’s critical for diamond brands to help consumers discern between what’s green and what’s greenwashing. And laboratory grown diamonds may not all be as environmentally or socially friendly as they seem.
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