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09/07/2024

Rethinking Diamonds: Pioneering Sustainability in the Industry

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Rethinking Diamonds: Pioneering Sustainability in the Industry

A New Ecosystem

At HB, we move beyond sustainability to positive impact

In a world increasingly attuned to sustainability, the diamond industry faces unprecedented scrutiny. At HB, we are reshaping the narrative with its commitment to ethical values and environmental stewardship.

 

The Diamond Industry Today: Facing Reality

The diamond industry, marred by environmental degradation and human rights abuses, calls for a paradigm shift. At HB, sustainability is not an afterthought but the cornerstone of our operations.

Ethical sourcing, responsible mining, transparency, fair trade, environmental stewardship, and community engagement are the pillars of sustainability. Each diamond we produce embodies these principles, ensuring a positive impact from mine to market.

 

Changing the Game: Our Approach to Sustainability

At the heart of this system lies a fundamental shift in perspective – from profit-driven to value-driven business. This mindset lies at the foundation of HB’s very existence.

Every aspect of the production process is geared towards environmental preservation, from minimizing water consumption to reducing greenhouse gas emissions.

In the mining realm, HB forges long-term partnerships with stakeholders (e.g., the mine) committed to sustainability, ensuring the longevity of the mine and the well-being of the surrounding communities.

HB is different in the way we operate across the supply chain. From the beginning, the only way to disrupt the industry is to create a new system: our vertically integrated supply chain, our HB Ecosystem.

In manufacturing, HB has rebuilt the supply chain from the ground up, leveraging blockchain technology for unprecedented traceability. This ensures that every diamond can be traced back to its source, eliminating the possibility of unethical practices like money laundering.

Everything is tracked, with over 3000 data points from mine to the consumer. This allows us to apply algorithms to the data to identify inefficiencies and act upon them.

Our vertically integrated supply chain allows us to do something unique and unprecedented: basing prices on polished diamonds rather than rough stones, which maximizes value for mining countries and provides them with substantially higher royalties.

In order to do this, HB has partnered up with Microsoft to leverage blockchain technology to provide unprecedented transparency and traceability in the diamond supply chain. Through our Ecosystem, we track every diamond from the mine to the market, ensuring that each stone can be traced back to its source.

 

 

Responsible Mining: Nurturing Partnerships for Sustainability

Partnering with mines like the Karowe in Lethlakane, owned by Lucara Diamond, we prioritize responsible mining practices that safeguard both people and the planet. Our commitment extends to environmental conservation and community empowerment.

 

Shaping a Sustainable Future

We recognize that there is still a significant journey ahead of us, and we are dedicated to ongoing improvement. To truly disrupt today’s world, we must move away from outdated systems that no longer serve us and instead develop forward-thinking approaches that shape the future. Sustainability undoubtedly plays a crucial role in this transformation, but so do concepts like ownership and mindset.

It’s time for us to reimagine diamonds – not solely as emblems of affection and elegance but as beacons of change and ethical excellence.