We are proud to announce that Rosy Blue’s greenhouse gas emission reduction targets have been formally approved by the Science Based Targets initiative (SBTi), positioning us as leaders in the low-carbon transition.
Approved Near-term Science-based Targets
The science-based greenhouse gas emissions reduction targets submitted by Rosy Blue have been validated by The Science Based Targets initiative as conforming to the SBTi Criteria and Recommendations (Criteria version 5.2). SBTi has classified our company's Scope 1 and 2 target ambition as aligned with a 1.5°C trajectory.
In concrete terms, we commit to:
- Reducing absolute Scope 1 and 2 GHG emissions by 54.6% by 2033, from a 2023 base year.
- Increasing the active annual sourcing of renewable electricity from 32.4% in 2023 to 100% by 2030.
- Reducing absolute Scope 3 GHG emissions by 32.5% by 2033, from a 2023 base year.
Why Our Commitment is the Way Forward
The latest climate science from the IPCC—described by the UN as a “code red for humanity”—shows that it is still possible to limit global temperature rise to 1.5°C, but we are dangerously close to that threshold. Rapid and deep emission cuts are essential if we are to halve emissions by 2030 and achieve net-zero by 2050. By setting clear targets, all stakeholders in the supply chain can make a difference, aligning with climate science and committing to science-based 1.5°C targets.
Collecting all necessary data to define a realistic and comprehensive target is challenging, as the footprint of a complex tangle of companies involved in the supply chain has to be considered. That’s why the Science Based Targets initiative launched its first-ever science-based Net-Zero Standard on October 28, 2021. This standard combats the inconsistencies surrounding net-zero targets and enables companies to decarbonise at the pace and scale required to meet the goals of the Paris Agreement and keep 1.5°C within reach.
At Rosy Blue, we committed to the Science Based Targets initiative in 2023, aiming to bring our carbon footprint to net zero. We are setting long-term CO₂e emission reduction targets, approved by SBTi, as the first step toward building a transparent, just, and low-carbon value chain aligned with the Paris Agreement’s 1.5°C target. Over the coming years, we must collaborate with our customers and suppliers to further reduce our collective carbon footprint and work towards creating a sustainable and more resilient diamond industry. At Rosy Blue, we believe that setting science-based targets helps us stay on track, ensuring we know what we need to do in the short and medium term to achieve our long-term goals.
Milestones in Our SBTi Journey
After completing a full CO₂ footprint assessment of our activities in 2022, Rosy Blue began its more ambitious SBTi journey. In July 2023, we committed to setting both near-term and net-zero targets with SBTi. Our goal is to meet demand without compromising diamond quality while also reducing our carbon footprint.
The recent approval of our near-term science-based targets marks a significant milestone in our SBTi journey. Calculating the baseline of our greenhouse gas emissions was crucial for mapping our material flows and identifying opportunities to enhance circularity: rejecting materials with a high footprint, rethinking production processes to minimise our footprint, and reducing emissions.
Setting clear target ambitions in line with a 1.5°C trajectory is the result of diligent work in aligning data and defining realistic targets. Given that our Scope 3 emissions—representing indirect emissions throughout the value chain—constitute about 99% of our global footprint, we are committed to more than just reducing direct (Scope 1) and indirect (Scope 2) operational emissions. A comprehensive approach across the entire supply chain is essential, where data collection, reporting, and action are significantly more complex and challenging.
