Chennai: Global large-scale diamond producers are infusing billions of dollars in benefits into communities, providing higher than national average wages and are working to minimise environmental impact, a report said.
The findings released by Trucost ESG Analysis, titled “The Socioeconomic and Environmental Impact of Large-Scale Diamond Mining”, said, the Diamond Producers Association (DPA) members generate more than $16 billion in net socioeconomic and environmental benefits through their diamond mining operations.
The report finds that the vast majority of these benefits are infused into communities through local employment, sourcing of goods and services, taxes and royalties, social programs and infrastructure investment.
It stated that employees are paid on average 66 per cent above national average salaries.
Touted to be the first comprehensive report on modern diamond mining, the report said, collectively, the members emitted the equivalent of 160 kg of carbon dioxide per polished carat produced.
“This report marks an industry first. Diamond producing companies representing three quarters of the world’s production have come together to provide a window into the impacts and benefits of their activities on the communities and environments of the countries and regions in which they operate,” said CEO, Diamond Producers Association, Jean-Marc Lieberherr.
“This independent research report breaks outdated stereotypes and misconceptions and identifies the next set of challenges that must be met to continue to evolve and improve as an industry. It also provides a baseline for industry participants and observers to track future progress,” he said.
Trucost measured the total benefits and impacts of the diamond mining activities of the DPA Members across 21 key socioeconomic and environmental indicators based on data collected for over 150 different metrics from DPA sites representing 70 per cent of the DPA Member’s total rough diamond production.