The quiet noises of hammering and sanding can be heard on the ground floor of Bario Neal, a jewelry store in Philadelphia. The walls are adorned with rustic artwork that imitates the natural world and are softly illuminated.

Haley Farlow, a 28-year-old second grade teacher, is eagerly anticipating one of the rings she and her boyfriend have been designing together for their engagement. They prioritize affordability and ethical sourcing, opting for lab-grown diamonds instead of mined ones to avoid contributing to environmental harm or exploitation of workers.

Farlow stated that the majority of their friends have lab-grown items, which is suitable for their lifestyle and current economic situation.

According to industry analyst Edahn Golan, sales of lab-grown diamonds in the U.S. increased by 16% from 2022 to 2023. These diamonds are significantly cheaper than those formed naturally underground.

Millennials and Generation Zs are using social media to proudly share their purchases of lab-grown diamonds, citing sustainability and ethical considerations. However, the sustainability of these diamonds is debatable, as their production consumes a significant amount of energy and many leading producers lack transparency in their practices.

According to Farlow, opting for lab-grown diamonds for her ring adds an extra level of significance and satisfaction, as the materials are obtained from trustworthy companies. Bario Neal exclusively uses lab diamonds that are either created using renewable energy or have their emissions offset through carbon credits. These credits fund initiatives such as tree-planting, which helps to absorb carbon.

This is not the typical situation for artificially produced diamonds.

Numerous businesses operate in India, where approximately 75% of the electricity is generated through coal combustion. While these companies may tout terms like “sustainable” and “environmentally-friendly” on their websites, they do not publicly disclose their environmental impact reports and lack certification from third-party organizations. For instance, Cupid Diamonds claims to produce diamonds in an eco-friendly manner on its website but has not addressed inquiries regarding the sustainability of their diamonds. On the other hand, there are companies like Greenlab Diamonds that incorporate renewable energy sources into their manufacturing methods as solar power continues to gain traction in India.

China is one of the leading countries in diamond production, with major manufacturers such as Henan Huanghe Whirlwind, Zhuhai Zhong Na Diamond, HeNan LiLiang Diamond, Starsgem Co., and Ningbo Crysdiam. However, these companies have not responded to inquiries or shared information about their sources of electricity. In 2023, over 50% of China’s electricity was generated from coal.

VRAI, a company within the United States and under the parent company Diamond Foundry, runs a foundry in Wenatchee, Washington that claims to have zero emissions. The foundry is powered by hydropower from the Columbia River. According to CEO and founder of Diamond Foundry, Martin Roscheisen, the energy used by VRAI to grow diamonds is only one tenth of what is needed for mining.

According to diamond industry specialist Paul Zimnisky, businesses that openly disclose their supply chain and utilize sustainable energy, such as this one, only make up a small fraction of overall production.

Zimnisky stated that many companies are using the popularity of being environmentally-friendly, even though they are not taking any actual environmentally-friendly actions.

HOW IT’S DONE

Man-made diamonds are typically produced over a period of weeks, using intense pressure and heat to replicate the natural process of diamond formation found deep within the Earth.

Although the technology has existed since the 1950s, the diamonds it produced were primarily utilized in industrial applications such as stone cutting, mining, and dental tools.

The labs, also known as foundries, have gradually improved their ability to produce stones with fewer imperfections. As technology advances, the cost of production has decreased.

That means diamond growers can manufacture as many stones as they want and choose their size and quality, which is causing prices to fall rapidly. Natural diamonds take billions of years to form and are difficult to find, making their price more stable.

Both lab-grown and natural diamonds are composed entirely of carbon and have the same chemical makeup. However, specialists can differentiate between the two by utilizing laser technology to identify distinct features in their atomic structure. The Gemological Institute of America evaluates millions of diamonds each year.

MARKETING COMPETITION

The market for natural diamonds has been impacted by the increasing popularity of lab-grown diamonds, which are now more affordable and favored by younger consumers. These man-made gems currently account for 5-6% of the global diamond market, causing concern for the traditional diamond industry. A fierce marketing competition has ensued as a result.

The diamond mining industry and certain experts caution that lab-grown diamonds may not retain their value in the long run.

In the next five to ten years, there will likely be a decline in the number of customers willing to invest thousands of dollars in lab-grown diamonds. Instead, most of the market will be focused on diamonds priced at $100 or less, according to Zimnisky. He also foresees that natural diamonds will maintain their high value for engagement rings, with prices in the thousands and tens of thousands of dollars.

Certain societies perceive engagement rings as a form of investment and opt for natural diamonds due to their long-term value. This is especially prevalent in China and India, according to Zimnisky. Additionally, in rural parts of the United States, this remains true, while urban areas have seen a rise in popularity of lab-grown diamonds.

Spending large sums of money on an item that loses much of its worth within a short period of time can make the purchaser feel deceived, according to Golan, who believes this is currently a disadvantage for the lab-grown industry.

According to Golan, purchasing a natural diamond means owning a piece of Earth’s history that took three billion years to form. This remarkable creation of nature cannot be replicated in a lab-grown diamond. It symbolizes everlasting love and enduring commitment.

According to Zimnisky, the most environmentally-friendly diamond would be one that has been repurposed or recycled, as it requires no energy.

Neal stated that she established Bario Neal in 2008 with the intention of producing jewelry that would hold long-lasting significance and contribute positively to society and the environment. The origin of all materials used in her jewelry can be traced throughout their entire supply chain. The shop provides options for both lab-grown and natural diamonds.

According to the speaker, jewelry holds strong meaning as a symbol and serves as a reminder of important moments. However, using materials that have negative impacts on people and the environment to create symbols of love, commitment, or identity seems contradictory. The goal is to only use materials that align with our clients’ values and would make them proud to own.

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Financial backing for the Associated Press’ reporting on climate and the environment comes from various private foundations. The AP holds full responsibility for all of its content. Information on the AP’s guidelines for collaborating with philanthropic organizations, a roster of supporters, and the topics covered through funding can be found at AP.org.

Source: wral.com