Sustainable, Ethical and Traceable practices encouraged by SGL towards a responsible lab grown diamond market.
This practice or set of guidelines have been formulated to bring trust and credibility to the lab grown diamond industry and establish sustainable, ethical and traceable processes towards creating a standardised pipeline of the lab grown diamonds from the manufacturing unit to the market.
Purpose for SET Practice rated lab grown diamonds
SET Practice guidelines (“SETP”) apply to lab grown diamonds only. Naturally occurring diamonds are not within the scope of the SETP guidelines. This practice is meant to deliver a well documented pipeline that enables any consumer to buy a lab grown diamond with confidence, full disclosure and from sources that believe in following a transparent and legal manufacturing/trading/reselling process.
SETP is a guideline that will continuously be evaluated, perfected and improved over a period of time by capturing metrics, data and it’s analysis on a day to day basis.
Efficient Compliance and Due Diligence Data Gathering
- Lab grown diamond growers (“LDG”)
- Diamond polisher, cutters, recycled diamond traders or handlers, diamond trader, logistics agency, jewelry manufacturers (“Handlers”)
- Empirical testing agency or grading laboratories (“Lab”)
- The entire chain of custody from diamond grower to the end consumer.
- Production processes that cover only growing of diamonds in a premises.
- Logistics partners and their process related to shipping and transportation.