Diamond Producers Association's report says its members positively impact local communities & working to minimize negative environmental impacts
Author: Cision PR Newswire, Diamond Producers Association (UK), Published on: 13 May 2019
‘First-Ever Comprehensive Report on the Reality of Modern Diamond Mining Reveals its Impact on Local Communities, Challenges Stereotypes and Identifies Areas for Further Improvement’ 2 May 2019
Trucost ESG Analysis, part of S&P Global, finds the world's large-scale diamond producers infuse billions of dollars in benefits into communities, provide higher than national average wages and are working to minimize environmental impact…The Diamond Producers Association (DPA), a global alliance of the leading diamond mining companies, which represents 75% of the world's diamond production, today released its first independent research report on Members' impact on local communities, employees and the environment. The report, authored by Trucost and titled The Socioeconomic and Environmental Impact of Large-Scale Diamond Mining, is the world's first comprehensive analysis of the contributions of DPA Members, examining socioeconomic and environmental benefits and impacts
Data from Trucost ESG Analysis, part of S&P Global, reveals that DPA Members generate more than US$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. The report also uncovers that DPA Members pay employees and contractors on average 66% above national average salaries and that companies focus extensively on employee training to ensure a highly-skilled workforce.
The world's leading diamond producers are comprised of seven companies – ALROSA, De Beers Group, Dominion Diamond Mines, Lucara Diamond Corp., Murowa Diamonds, Petra Diamonds and Rio Tinto – and employ more than 77,000 individuals globally...."This report marks the first time Trucost has seen an industry come together to measure its environmental, social and economic benefits and impacts," said Libby Bernick, Managing Director and Global Head of Trucost Corporate Business. "This data provides a baseline for future progress on issues, including environmental impact. We are very excited to work with the Diamond Producers Association and its Member companies to release this research on the total value of their benefits and impacts, promoting greater transparency on environmental and social performance to the capital markets.