We calculated the true price of 1 carat of polished diamond in 3 systems: large-scale mining, artisanal mining and laboratory-grown diamonds. We showed how artisanal diamonds have the highest true price gap.
We also assessed ways for the sector to move forward. For example, reducing coal for energy use in diamond synthesis can save USD ~780m/year in environmental impacts. Similarly, reducing underpayment in the polishing industry can prevent USD ~35m/year. Understanding pathways for improvement can contribute to significant change in the years to come.