De Beers highlights progress achieving a target

 

Achieving a target to engage 5k women and girls in STEM 

Recently, 2023 sustainability report communicates progress across key priority areas, focused on creating a positive impact in host countries and throughout the diamond value chain! 

De Beers Group reported on progress towards its Building Forever sustainability goals, with key highlights including achieving a target to engage 5,000 women and girls in STEM (science, technology, engineering and mathematics) two years early, agreeing to establish a flagship Diamonds For Development Fund in Botswana, progressing key renewable energy projects in support of recently-validated science-based emission reduction targets, and scaling the development of Tracr, the pioneering diamond traceability platform. 

Established in 2020, Building Forever is De Beers Group’s blueprint seeking to create a positive and sustainable impact for the people and places where its diamonds are discovered, closely aligned with stakeholder priorities. It encompasses four key focus areas where the company is working to support meaningful progress within its partner countries and the wider natural diamond value chain: leading ethical practices, partnering for thriving communities, protecting the natural world, and accelerating equal opportunity. 

Al Cook, Chief Executive Officer of De Beers Group, said: “Every stage of a natural diamond’s journey presents an opportunity to create a positive impact. We’ve long understood this at De Beers and it’s why our sustainability efforts are so closely aligned with the sustainable development priorities of our partner countries. 

Natural diamonds are a vital source of economic development for many millions of people. Through Building Forever, we’re working to ensure that every diamond we discover benefits the people and place it came from, with a priority focus on supporting community resilience, advancing women and girls and protecting nature.  

We continue our efforts to reduce our carbon footprint in line with our recently validated science-based emission reduction targets and are progressing investments in renewable energy to power our operations. 

Our leadership in diamond transparency and traceability also continued throughout 2023, underpinned by leading technologies, so that we can increasingly connect consumers with the provenance of their natural diamond and all the benefits it has delivered along its journey.” 

During 2023, De Beers continued to strengthen its relationships with government partners and a wide range of non-governmental organisations to support sustainable development outcomes in host communities. A major achievement was announcing a shared commitment with the Government of Botswana to set up a Diamonds for Development Fund as part of the agreement on a new 10-year sales agreement. 

With De Beers pledging an initial one billion Pula (~US$75 million), the Fund aims to support the country’s emerging knowledge-based economy and accelerate its long-term economic diversification. Recognising the potential for increased gender parity to support economic growth, productivity, and resilience within host communities, De Beers also made significant strides towards advancing women and girls in its partner countries.  

This included achieving an interim target – two years early – of engaging 5,000 young women and girls in STEM activities through school workshops, undergraduate fellowships and scholarships and mentoring by 2025. The EntreprenHER programme, which aims to support women entrepreneurs in southern Africa to grow their businesses, also continued during 2023.  

The programme has supported 2,645 women business owners since launching in 2018 and a three-year extension of the programme was also approved.