St. Petersburg : The results of respective research were first presented at the XXVIII St. Petersburg International Economic Forum. The round table dedicated to the impact of responsible consumption on the development of the international diamond market, where the statement on the complete carbon neutrality of Russian diamonds was made, was attended by high-ranking representatives of the global diamond industry, experts in the field of sustainable development and premium consumption. Participants noted the leading trend towards responsible consumption in the luxury sector against the backdrop of stable growth in global demand for luxury goods, which increases by $100 billion every 10 years.
For example, according to Bain & Company (Luxury Study 2023), the personal luxury products market positioning itself as a sustainable market (with clear environmental and social commitments), is growing by 20–30% per year, significantly outpacing the overall luxury market (~8–10% in 2023), while according to Deloitte Global, luxury buyers are willing to pay up to 27% more for sustainable products.
At the round table, Pavel Marinychev, CEO of the world’s largest diamond mining company ALROSA, presented the results of the research conducted over three years by specialists from the ALROSA Innovation and Technology Center in co-operation with scientists from the Lomonosov Moscow State University and several research centers. The research proved the ability of diamond-bearing ore from ALROSA deposits in Yakutia and the Arkhangelsk region to absorb carbon dioxide from the atmosphere during the company’s production activities. The conducted theoretical, field and laboratory analysis also made it possible to estimate the actual volume of carbon dioxide absorbed during the extraction and processing of kimberlite rock.
Thus, the annual volume of carbon dioxide absorption by kimberlite from ALROSA deposits is about 1 million tons of CO2-eq which is comparable to the volume of greenhouse gas absorption by 400,000 hectares of forest per year. At the same time, the key to effective absorption is the technological cycle of production, processing and further storage of processed ore in Russia, which significantly accelerates the process of carbonization, i.e. the accumulation of carbon dioxide by kimberlite and the transformation of its constituent minerals into natural carbonates. The research showed that CO2 absorption by kimberlite has no reverse effect: carbon is naturally “locked” in a stable form that prevents it from reentering the atmosphere.
The results of this research formed a basis for the carbon footprint analysis of ALROSA products—natural diamonds. Following the results of this work, ALROSA received an internationally recognized verification certificate confirming the carbon neutrality of diamonds and their negative carbon footprint, which in 2024 amounted to a “negative” 0.71 kg CO2-eq per 1 carat. Taking into consideration that ALROSA’s production volume accounts for some 30% of the global diamond mining, experts are convinced this will increase natural diamonds’ attractiveness around the world.
As noted by Pavel Marinychev, ALROSA became the world’s first mining company to have its products officially recognized as carbon neutral in full annual production volume, not only thanks to the proven ability of diamond-bearing rock to capture and bind CO2, but also thanks to the Company’s systematic efforts to reduce greenhouse gas emissions and use its own renewable energy. Pavel Marinychev also stressed that, unlike the practices of other companies that declare their carbon neutrality, ALROSA does not use compensating mechanisms for this purpose, in particular, the purchase of “green certificates”.
“This is a landmark event for the industry—a comprehensive research by scientists has objectively confirmed the ability of kimberlite to absorb carbon on such a scale for the first time in the world,” ALROSA CEO emphasized. “This is another significant advantage for buyers of diamond jewelry, who are increasingly striving for conscious consumption and are ready to invest in ethical and environmentally friendly choices. And for jewelry companies that use diamonds with a neutral carbon footprint, this is a serious competitive market advantage, which is almost impossible to repeat for their competitors, substitute products.”
In their speeches, the participants of the Round Table noted the importance of the scientific discovery and confirmation of the products’ carbon neutrality received by ALROSA for the global diamond market and the entire luxury industry.
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