Connect with us

Business

Pandora will ditch mined diamonds

Anthony Lucas

Published

on

They say diamonds are forever, but not for Pandora.

The world’s biggest jeweller Pandora will no longer sell mined diamonds, citing increasing demand for ethical and sustainable products.

Increasing demand for sustainable and ethically sourced diamonds

Pandora will switch to laboratory-made diamonds amid growing environmental and ethical concerns.

“It’s the right thing to do,” Pandora’s chief executive Alexander Lacik told the BBC.

“We want to become a low-carbon business… I’m leaving this earth one day, I hope I can leave it in a better shape.”

Pandora chief executive Alexander Lacik

Pandora also committed to pull back from using newly mined gold and silver by 2025. This is also the same year they expect to achieve carbon neutrality and switch to recycled metals.

The company recently updated their responsible sourcing policy, which includes their commitment to have a zero tolerance policy on:

  • Forced labour including child labour
  • Using falsified records to dodge audits
  • Corruption and bribery
  • Environmental threats
  • Threats to worker’s health
pandora lab grown diamonds
Pandora will also transition to recycled metals by 2025.

Man-made diamonds take a fraction of the cost and time to produce, says Pandora

Pandora says its lab-created diamonds have the same chemical and physical characteristics as mined diamonds.

The lab-grown diamonds will still be graded by cut, color, clarity and carat.

The diamonds only take weeks to produce, as opposed to natural diamonds which take centuries.

Stephen Morisseau is a spokesman for the Gemological Institute of America, a nonprofit that developed the international diamond-grading system.

“Natural and laboratory-grown diamonds are both diamonds. While they are not identical, they have essentially the same physical, optical chemical properties.”

Stephen Morisseau, Gemological Institute of America

Pandora’s plans for global growth

This follows Pandora’s push for global growth and an increasing desire to cater to young buyers.

Young buyers are more likely to factor in environmental and human rights concerns when choosing products, including diamonds.

Pandora says they also plan to branch out into watches and bags. They’ve reported a strong first-quarter operating profit, thanks to online sales.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Fancy a ‘flight to nowhere’ to view the super-moon from up in the sky?

ticker NEWS

Published

on

In a bid to rebound from international and domestic border closures, Australian airline… Qantas has offered ‘flights to nowhere’.

Travel-starved Australian residents will have the chance to view the late-May supermoon and full lunar eclipse from over 40,000 feet in the sky.

The moon rises over the Sydney Harbour Bridge in Australia, Tuesday, April 27, 2021. This moon is a supermoon, meaning it appears larger than an average full moon because it is nearer the closest point of its orbit to Earth (AP Photo/Mark Baker)

But if you were hoping to get onboard, you’re already out of luck – the airline says all tickets were snapped up in record time… at just two and a half minutes.

The super-moon joy flight is the latest in a series of Qantas-operated trips to encourage travellers to take up travel in a post-pandemic world.

Continue Reading

Business

World’s largest fast-food restaurant chain now caught up in wage battle

Brittany Coles

Published

on

Would a pay rise be enough for you to be on the front-line… working at a drive-thru window rather than at home?

Customers are coming back faster than restaurants can staff up.

McDonald’s is the latest U.S giant to raise pay in a move to attract more applicants and keep up with customer demand.

McDonald’s and Chipotle are just some of the latest companies to follow Amazon, Walmart and Costco in boosting wages.

Hospitality workers are some of the lowest paid employees… even though they run the risk of contracting COVID-19 on the job, compared to white-collar employees who can work from home.

Continue Reading

Business

SpaceX will also be orbiting in Google’s cloud?

Brittany Coles

Published

on

SpaceX and Google have announced a deal.

The new deal will see Starlink ground stations placed in Google data centre properties…with the first to switch on in the second half of the year.

The goal is for businesses to reach cloud services from rural and regional parts of the planet.

Google said that Connectivity from Starlink’s constellation of satellites provides a path for data to be distributed across countries, quickly and securely

“Connectivity from Starlink’s constellation of low-Earth-orbit satellites provides a path for these organisations to deliver data and applications to teams distributed across countries and continents, quickly and securely,” Google said.

Also, Australian fibre provider, Vocus, has put a bid in to host LEO ground stations.

“This means having ground stations in regional areas close to where the end-users are located, to minimise round-trip time,” Vocus general manager for government and strategic projects Michael Ackland said.

In other Elon-related news, the SpaceX and Tesla CEO tweeted earlier this week that the carmaker would stop accepting bitcoin payments.

Continue Reading

Trending on Ticker

Copyright © 2021 Ticker Media Group Pty Ltd