The French Ministry of Economy and Finance has taken a step to standardize the terminology for lab-grown diamonds by introducing “synthetic” as the official term.
This change seeks to unify the various terms previously in use, like “lab-grown” or “cultivated,” for diamonds created through artificial processes.
The World Federation of Diamond Bourses (WFDB) supports this decision, seeing it as an essential step in differentiating the value of natural diamonds.
Yoram Dvash, President of the WFDB, stated, “By endorsing the use of ‘synthetic,’ the French government aims to eliminate ambiguity and ensure consumers can make informed choices based on clear terminology.”
The WFDB’s backing of the French government’s decision is in line with its efforts to support the natural diamond industry. Partnering with the Natural Diamond Council (NDC), the WFDB aims to promote the attributes of natural diamonds through financial investments and initiatives to communicate the value of natural diamonds to consumers globally.
The French Ministry of Economy and Finance’s decision, supported by the WFDB, signifies a key moment in the discussion around lab-grown versus natural diamonds.
As the industry moves towards more transparency and standardization, it’s crucial for professional jewellers to stay updated on these developments. Clear communication and education about the terminology and value of both natural and synthetic diamonds are vital in addressing consumer preferences and maintaining market trust.