Dimexon Launches Its First ESG Report & Outlines its Sustainability & Ethical Goals for the Future

The report is slated to be published annually henceforth

Post By : IJ News Service On 20 July 2022 3:15 PM

Dimexon is launching its first Environmental, Social and Governance (ESG) report called “Diamonds with Purpose: Our 2022 ESG report and roadmap to sustainable luxury.” The report celebrates ESG achievements over the years and sets new sustainability and ethical goals for 2023, 2025 and 2030. While this is the first ESG report, Dimexon has had environmental, social and governance practices very much at the core of its business since it was founded in 1966. It has a global reputation as leading the diamond industry with its initiatives on topics such as women empowerment, traceability, ethical sourcing and gender parity. This report highlights Dimexon’s ESG commitments, with key highlights from the past year including:

- 3.72 tCO2e emission intensity per 1,000cts of diamonds produced

- 50% Reduction in energy consumption at its Mumbai office

- Zero Liquid Discharge certification at its facility in Coimbatore, India

- 54% of water is recycled and reused at our Coimbatore, India factory

- 85% of workforce is female, with 67% of those employees having been with the company for more than 10 years

- 6,000 freshly cooked meals provided each week at no cost to the local community in Coimbatore during the peak of the pandemic.

The ESG report also sets out some ambitious goals for future development, as Dimexon continues to position itself as a leader in transparent and ethical business practices within the diamond industry. Its roadmap to sustainable luxury focuses on four pillars: Dimexon’s environmental synergy, product integrity, social stewardship and responsible business conduct. Within each pillar there are KPIs and forward-looking pledges that will underpin Dimexon’s continued efforts to create a brighter future for the diamond industry. Goals include:

- 100% traceability on individual diamonds of 0.18ct and above by 2023 - based on origin (Source, Mining Company/Country)

- 100% traceability on mixed parcels of diamonds weighing less than 0.18ct by 2025 - traceability based on input mix ratios (Source, Mining Company/Country)

- 100% of its suppliers to comply with Dimexon’s responsible supplier policy by 2023 - Dimexon will screen all its direct suppliers and Responsible Jewellery Council (RJC) member diamond suppliers, and by 2025 extend the criteria to non-RJC members by evaluating such suppliers every year

- Zero single-use plastic by 2023 - Dimexon intends to achieve this goal by using alternative packaging material as well as recycling, conducting awareness sessions and providing topic-specific training to all employees

- Zero waste to landfill by 2025 - Dimexon aspires to advance the circular economy by enabling optimum utilisation of waste through recycling at site, segregation of waste, and disposal for reuse or recycling through authorised vendors and under responsible sourcing guidelines

- Carbon neutral by 2030 - Dimexon plans to achieve this primarily by installing renewable energy capacities at its manufacturing sitesimproving the energy efficiency of operational activities, shifting towards alternate fuels or low-carbon fuels and through carbon offsetting

- To continue to align with other initiatives that promote responsible luxury - Dimexon is already a De Beers Sightholder, and a Select Diamantaire of Rio Tinto as well as a Certified member of Responsible Jewellery Council, World Diamond Council, and Natural Diamond Council.

Pankaj Mehta said about the launch of the ESG report, “We are proud to present Dimexon’s first ESG report: Diamonds with Purpose: Our 2022 ESG Report and roadmap to sustainable luxury. At Dimexon, our ESG-led approach allows us to maintain our position as a trusted and responsible supplier of natural diamonds to a growing network of global customers. Our purpose of inspiring sustainable luxury is embedded into our business practices and our priorities to deliver long-term value to our stakeholders. Being a responsible organisation allows Dimexon to connect with leading businesses in the diamond industry, foster a loyal customer base and drive profitability.” Dimexon’s first ESG report is a commitment to continue with best sustainable and ethical practices across the business and a long-term plan that will not only help Dimexon advance its own credentials, but also inspire others in the diamond industry to follow suit. The report will be published annually and this first edition is available online now and can be downloaded freely, giving a previously unseen insight into the inner workings of the responsible diamond manufacturer.

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