SAN FRANCISCO ,
March 19,
2024 /PRNewswire/ -- Brilliant Earth Group, Inc.
(Nasdaq: BRLT), a global leader in ethically sourced fine jewelry,
today announced the launch of its 2023 Mission Report, marking
another milestone in its commitment to transparency,
sustainability, compassion, and inclusivity. Alongside the release
of this comprehensive report, Brilliant Earth is also publishing
new dedicated pages on its website aimed at providing a detailed
look into the Company's mission and ongoing efforts to promote
responsibility within the jewelry industry.
"We are thrilled to launch our third annual Mission Report, a
testament to our unwavering dedication to transparency and
sustainability. This report underscores our commitment to driving
positive change within the jewelry industry and empowering
consumers to make informed choices," said Beth Gerstein, CEO and Co-Founder of Brilliant
Earth. "As we continue to pave the way for a more responsible
future, we invite our community to explore our new site experience
for details on our progress and join us in our mission to create a
more responsible jewelry industry."
The Mission Report categorizes the Company's progress to date
across its four key pillars. Highlights from 2023 include:
Sustainability:
- Advanced Lab Diamond Leadership:
- Carbon Capture Diamond Collection: Launched the
Capture Collection, the world's largest collection of lab diamonds
created using CO2 captured before it is
released into the atmosphere.
- Renewable Diamond Collection: Introduced a new
collection of lab diamonds grown, cut, and polished with 100%
renewable energy from wind and solar.
- Aligning with Climate Science: Committed to set
near-term Company-wide emission reductions in line with the Science
Based Targets initiative (SBTi) and invited a
third-party to conduct limited assurance of our 2023 greenhouse gas
inventory and baseline in preparation for setting targets
with SBTi.
- Commitment to Circularity: Continued leadership in
responsible sourcing with the use of 96% recycled gold
and 97% recycled silver across the entire product assortment and
offered a recycling program for used jewelry.
Transparency:
- Strengthened Blockchain Leadership of Beyond Conflict-Free
Diamonds: Bolstered the Company's offering of the largest
number of blockchain-verified natural diamonds in the industry with
an increase in the number of blockchain technology provider
partners.
- Monitored for Safe Working Conditions: 98% of
natural diamond manufacturers, 98% of jewelry manufacturers, and
92% of lab diamond manufacturers were audited for safe working
conditions.
- Disclosed in line with Global Reporting Initiative and
Sustainability Accounting Standards Board: Voluntarily
reported to 103 GRI and SASB indicators,
including Scope 1, 2, and 3 emissions.
Compassion:
- Furthered the Impact of the Brilliant Earth Foundation:
Committed $523,000 to nonprofits
through the Brilliant Earth Foundation.
- Empowered Responsible Gold Mining
Communities: Supported 4 mines in Madre de Dios, Peru in completing their Fairmined
Certifications, the first to do so in the Amazon, with Pure
Earth and the Alliance for Responsible Mining.
- Progressed Moyo Gems: Enabled Moyo
Gems to successfully expand into Kenya from Tanzania and funded financial literacy
trainings focused on artisanal female gemstone miners for the
development of secondary sources of income. To-date, 465 miners are
enrolled in Moyo, 203 people are served by the
financial literacy trainings, and 1,400 household
members have benefitted.
Inclusion:
- Increased Diversity in Management and Above: 73% of
people managers and 64% of director level and above employees
identify as women, up 4% and 5% respectively from 2022.
- Amplified Diverse Voices: 42% of influencer
partners reflected the Company's diverse customer
demographic.
- Scaled Inclusive Sizing: Rolled out extended ring
sizing across the Company's entire assortment of engagement rings,
wedding bands, and fashion rings at no additional cost to the
consumer.
In the report, Brilliant Earth has also set goals for the
years ahead. Highlights include:
By 2024:
- Continue to scale blockchain-verified diamonds across the
Company's supplier base.
- Set near-term and net-zero emissions reductions targets and
submit to SBTi for validation, encourage suppliers to
transition to renewable energy, and evaluate the availability of
renewable energy for showrooms to reach emissions
targets.
By 2025:
- 100% of gold and silver to be recycled or Fairmined, with a
year-over-year increase in recycled platinum.
- 50% of lab diamond inventory to be cut and polished using
renewable energy.
With the release of the report, Gerstein remarked, "The
environmental, social, and governance goals this Mission Report
addresses are not marked by a single point in time. Like Brilliant
Earth's Mission — to create a more transparent, sustainable,
compassionate, and inclusive jewelry industry — these goals are
steps within a much longer journey. We are pleased to present
Brilliant Earth's 2023 Mission Report, our third annual report
since becoming a public company in 2021."
About Brilliant Earth
Brilliant Earth is a digitally native, omnichannel fine jewelry
company and a global leader in ethically sourced fine jewelry. Led
by co-founders Beth Gerstein and
Eric Grossberg, the Company's
mission since its founding in 2005 has been to create a more
transparent, sustainable, and compassionate jewelry industry.
Headquartered in San Francisco, CA
and Denver, CO, Brilliant Earth
now has more than 35 showrooms and services customers in over 50
countries worldwide.
Contact:
Marisa Ochoa
Marisa.ochoa@brilliantearth.com
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SOURCE Brilliant Earth