Press

Second installment of our Special Monograph on the national and international diamond market. Facet Barcelona is the first Spanish company and a pioneer in the world to develop a standard to ensure the traceability of diamonds, Tracemark. Its co-founder and general director, Berta Serret, explains to us what this new project for the jewelry and diamond industry consists of.

How and why was the initiative to create Tracemark born?
Sustainability and human rights have always been our priority and ensuring change for a truly sustainable and ethical industry, our mission. As a second generation of Facet Barcelona, ​​personally I have always been very involved in the fight for a more sustainable and just future. Did you know that one million children work in illegal mining activities ? Or that gold mines emit 1,400 tons of toxic mercury each year , threatening the environment and putting lives at risk? Tracemark is our proactive solution to transform the industry by ensuring ethical and sustainable jewelry, gold and diamonds through traceability.

We firmly believe that transparency is the only way to ensure ethical and sustainable processes throughout the entire supply chain, and that traceability is key to providing this transparency, Tracemark was born from this conviction, as a company independent from Facet, after that it touched us especially after knowing the report that the NGO Human Rights Watch published two years ago .

In this report titled “ Behind the bling, ” the NGO challenged jewelry companies to demonstrate responsible sourcing and ethical and sustainable practices throughout their jewelry journey. Even the most prestigious brands could not answer because there was no way to find those answers. Traceability was an impossible dream until now. Tracemark, our pioneering traceability solution, has made this dream a reality, readily available in the market for any jewelry or diamond company that believes in ethical and sustainable jewelry.

What exactly is Tracemark? How can you control the origin of the diamonds?
Tracemark is the first company in the world capable of providing complete traceability of a piece of jewelery and its raw materials; gold, diamonds and silver. We certify natural diamonds that have been traced from start to finish: from the mining company to the end consumer, guaranteeing responsible sourcing and that all steps throughout the supply chain of a piece of jewelry have been subjected to the highest ethical and sustainable standards. We also certify recycled, traceable and ethical gold from Sustainable Jewelry Council (RJC) refineries, under CoC ( Chain of Custody ) accreditation . Recycled gold is more sustainable, reducing its carbon footprint by 99% compared to that extracted from the mines.

We do this through encrypted and certified software, our internally developed Transparent Tracking System , which can control the origin of diamonds, gold and silver. Our technology also verifies through an independent third-party audit that each link in the supply chain has been authentically subjected to ethical and sustainable standards, and presents this unique traceability journey to the end consumer through an interactive, mobile and digital interface. , our traceability panel. In this way, with Tracemark we empower the end consumer with the information they need to align their purchasing decisions with a positive impact on society and the environment.

Is there any other company or association that supports this project? Can any brand join the initiative?
Yes. Tracemark connects committed, sustainable and ethical stakeholders to enable peer collaboration. We believe this is key to driving real and efficient change for a better and more transparent future.

From tourists and manufacturers to brands and retailers, any company and brand in the jewelry and diamond industry that meets our ethical and sustainable requirements can adhere to the Tracemark protocol and take advantage of our technology. We are currently collaborating with several associations aligned with our mission and working to provide traceability to some of the most important jewelers in the sector.

In this way, Tracemark also creates a sustainable network that brings together industry peers throughout the entire jewelry and diamond supply chain, enabling potential and profitable business opportunities and partnerships between certified and ethical companies.

Is the consumer supposed to pay more for this product? And one of the key questions: Is the customer willing to pay more to find out where the diamonds they use come from?
Tracemark, as a mission-driven initiative, does not have a direct impact on the retail price of jewelry. To make it affordable and available to everyone in the industry who wants to drive positive change, we have designed a solution in which any committed business can increase their competitiveness and add unique value to their jewelry for a low cost, calculated by volume. annual number of pieces represents only 1.5% to 2% of the RRP.

Furthermore, research shows that yes, indeed, customers are willing to pay more to ensure that the diamonds and jewelry they wear are authentically ethical and sustainable. Just to cite one example: According to a recent global study conducted by the Institute for Business Value (IBV) in association with the National Federation of Retailers, 71% of global consumers surveyed would be willing to pay more to find out from where their products come from.

Is it a step beyond the security provided by the Kimberley Process?
The Kimberley Process has been very positive for many reasons, but it has also been criticized for its limited scope. Since its implementation in 2002, the Kimberley Process estimates that its members have reduced trade in conflict diamonds by 99%. However, when it comes to conflict diamonds, the Kimberley Process only refers to those that have been used to finance rebel groups. It does not take into account, for example, human rights abuses in the workforce, child labor or pollution.

That is why many believe that the Kimberley Process is not enough to guarantee ethical and sustainable diamonds. With Tracemark, we take into account the progress made by the Kimberley Process (all diamonds we certify carry their own Kimberley Certificate) and expand it one step further by providing traceability of jewelry and its raw materials from the mine to the end consumer and verification by independent third party audits.

Have you considered a similar initiative for colored gemstones?
Yes. We are investigating it. It is a challenge, but so was the traceability of the diamonds and we succeeded.

NGOs such as Human Rights Watch have recently expressed that without mandatory policies on social responsibility and human rights, any industry initiative is not enough . What is your opinion?
In the Sparkling Jewelry report , Opaque Supply Chains, HRW follows up on the report they published two years ago that inspired the creation of Tracemark and comes to a simple conclusion: there has been progress, but there is still much to do to ensure social responsibility and human rights. In particular, the NGO outlines four remaining challenges: much-needed traceability of gold and diamonds, transparency to demonstrate responsible sourcing, increased supply chain control, and independent third-party audits. We could not agree more. In fact, Tracemark is the only solution available on the market today that is capable of precisely solving these four challenges, while sharing the relevant information with the end consumer.

Sustainability in corporate settings is an option. Companies choose to behave more responsibly and do more to ensure ethical and sustainable practices, or look elsewhere for abuse. We choose to be responsible and we act to move others to follow our path. That is why we have designed the most complete solution so far and that is also why, aligned with HRW’s vision, we believe that Tracemark has all the potential to become that legal standard that the NGO claims.

Has the pandemic promoted the concept of sustainability and social responsibility?
Absolutely. There are many studies that reflect how the pandemic has accelerated and intensified the growing demand for ethical and sustainable products. For example, 80% of consumers look for brands with values, beyond quality, price or prestige and 87% would buy a product because the company defends an issue that concerns them. In fact, 73% of consumers already make their purchasing decisions guided by ethics and sustainability.

Furthermore, for many of these consumers, it is no longer enough for the company to say that it is sustainable. Consumers are beginning to ask for proof of ethical and sustainable practices, that is, traceability to elevate sustainability and turn it into a tangible story that they can relate to.

What are your next steps and projects for this 2021?
We launched Tracemark in September and have since begun exploring partnerships with a number of prestigious international jewelry and diamond companies who are very interested in joining our traceability solution. We have also successfully launched our first collection with one of the largest Spanish jewelry brands in the world and we are in advanced conversations with other firms, from different countries, who also want to add our value to their offer. Some of the world’s most prestigious retailers are viewing Tracemark as the definitive standard for sustainability and CSR.

Taken from the original article in Gold and Time